NYC’s Waldorf Astoria Closes on First Sales After Renovation (1)

Manhattan’s Waldorf Astoria is finally getting the first of its new residents, a decade after a Chinese firm bought the iconic New York hotel.

As part of a major renovation, a portion of the property was converted into 375 condos on top of a hotel. Closings for the condos began in December, with at least $7 million of sales hitting public records.

China’s Anbang Insurance Group Co. bought the Park Avenue property from Hilton Worldwide Holdings Inc. for $1.95 billion in 2015. The owner later closed the property for renovations, which dragged on for years. Anbang ran into financial troubles, ...