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Real Estate

NYC's Waldorf Astoria to Start Luxury-Condo Sales This Year

  • Chinese insurer Anbang bought Park Avenue landmark in 2015
  • Progress on property watched closely amid Anbang’s struggles
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Condos at NYC's Waldorf Astoria
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China’s Anbang Insurance Group Co. is scouring the globe for condo buyers looking for a little -- or a lot -- of Park Avenue glamour.

Four years after buying the famed Waldorf Astoria for a record $1.95 billion, the insurer is getting ready to begin sales of 375 luxury apartments, betting that the hotel’s cachet can attract attention in a glutted market. Anbang selected Douglas Elliman Real Estate to find buyers for the units, which range from studios to five bedrooms, starting this fall.