New York City's iconic Waldorf-Astoria Hotel is already known for having some of the city's priciest rentals, and now, the entire Art Deco landmark has a new superlative to wear: the high-profile building just sold to a Chinese insurance company for $1.95B, making it the most expensive sale ever of a single hotel in the U.S. Not only that, the sale also holds the record as the biggest Chinese investment in a single U.S. building.
Hilton Worldwide Holdings will continue to operate the 1,413-room hotel under an 100-year management contract with Anbang Insurance Group, who is planning to restore the 47-story tower. There's also a chance those "priciest rentals," which feature high ceilings and large marble bathrooms, will be turned into "priciest condos." Stay tuned.
· Waldorf-Astoria to Be Sold in a $1.95 Billion Deal [NYTimes]
· NYC's Priciest Rental is in the Waldorf Astoria [Curbed National]
· All Waldorf Astoria coverage [Curbed National]
· All Sold Stuff posts [Curbed National]