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Landmarks OKs Waldorf condo conversion

People & Companies / Latest News

United States of America

Apr 27 2017

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Miriam Hall

Anbang Insurance Group’s plan to turn the Waldorf Astoria hotel into condominiums received the green light from the Landmarks Preservation Commission this week.

Most of the work will involve repairs, restoration and cleaning, New York YIMBY reported. Architect Frank Mahan from Skidmore, Owings & Merrill, along with preservation consultant Bill Higgins of Higgins Quasebarth & Partners are taking the lead on the project.

Anbang closed the 1,413-key hotel on March 1 to start its conversion work. Last month, it filed a “test the market” application with the New York state Attorney General’s office. The application shows it is considering building 409 apartments, instead of the 321 that was in its construction plans filed with the city’s Department of Buildings in November.

Anbang plans to put the condos on the 14th through the 44th floors, and keep 840 hotels rooms on the fifth through 13th floors.

Existing window openings will be restored, as will 141 spandrels. The cooling tower will be removed from view, and 80 new ventilation windows will be installed. Each elevation will get new sconces, and storefronts will be closer to their original condition, according to the website.

The company bought the hotel from Hilton Worldwide Holdings for $1.95 billion in 2014, and last summer announced it would keep the building’s Art Deco interiors.

SOURCE: The Real Deal

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