Todd Bishop
China Anbang Insurance Group acquired a number of assets around the world in the early years, including the famous New York landmark Waldorf Astoria. It is reported that Anbang is entrusting an agent to prepare to sell apartment houses on the building.
The Waldorf Astoria Hotel, built in 1932, was closed about three years ago and converted some floors into 375 luxury homes. Ampang acquired in 2014 for a price of US$1.95 billion, which shocked the American business community.
Ampang changed its early expansion policy in 2017 and gradually sold non-core assets, including hotels, and then Anbang Group was taken over by the China Banking Regulatory Commission.
375 homes for sale
The Wall Street Journal reported that the renovation project started by Waldorf Astoria three years ago will soon be completed and has commissioned an estate agency to sell the 375 homes to global buyers.
The houses range from open to 5 units and are scheduled to begin sales this fall. The price has not been announced yet, and the renovation of the entire building will be completed in 2021.
