The restoration and condominium conversion of the iconic Waldorf Astoria in Midtown Manhattan has entered a new phase as sales are set to launch in the building in 2019, according to developer Anbang Insurance Group. The in-progress conversion currently involves work on the building’s residential and hotel components, as well as the construction of an onsite sales office at Park Avenue and 50th Street.
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Although prices in the building have yet to be released, Anbang notes that the entry-level units will average around 650 square feet. In total, the conversion at 301 Park Avenue will result in around 350 condo units and approximately 350 new hotel rooms and suites, according to a press release from the developer. The ongoing preservation work on the property will also result in renovated public and event spaces for guests. Skidmore, Owings & Merrill (SOM) is the project’s architect, and interior designer Pierre-Yves Rochon (PYR) is designing the hotel’s interiors and guest rooms.
The building is now New York City’s largest private interior landmark; the hotel had previously been designated an individual landmark in 1993. Anbang has also hired consultants to oversee the preservation of several iconic Waldorf Astoria items, including the Cole Porter piano, the World’s Fair Clock Tower, the Kennedy Rocking Chair and the MacArthur Desk.
The hotel portion of the property will continue to be operated by Hilton. Prior to the conversion, the world-class hotel had a total of 1,413 rooms.
The hotel portion of the property will continue to be operated by Hilton. Prior to the conversion, the world-class hotel had a total of 1,413 rooms.
Classic photo of the Waldorf=Astoria
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