NYC’s Waldorf Astoria Said to Close in ’17 for Condo Rebuild

Bloomberg, June 27, 2016–Yu, Hui-Yong
New York’s Waldorf Astoria hotel is scheduled to close in spring 2017 so owner Anbang Insurance Group Co. can convert most of its 1,400-plus rooms to condominiums. The luxury hotel, managed by Hilton Worldwide Holdings Inc., will reopen as many as three years later, with about 300 to 500 hotel rooms remaining.