Waldorf Astoria: There are also apartments in the posh hotel

Marilyn Monroe, Dwight D. Eisenhower, Harry S. Truman, Prince Rainier III. Monaco, Grace Kelly, Cole Porter and many more: the list of celebrities who have been regular guests at the Waldorf Astoria near Grand Central train station in New York is long. Franklin D. Roosevelt even had his own underground train track built here so that he could use the lift to take his wheelchair straight up to the presidential suite.

The Waldorf Astoria opened its doors for the first time in 1931. At that time, 92 years ago, the hotel was the largest and highest in the world. To this day, it is not only one of the most prominent houses in New York, but also a landmark of the US metropolis.

Now private investors can secure a piece of history for themselves. Because since 2017, the 52-storey hotel with its two towers has been almost completely renovated. Where there used to be 1,400 hotel rooms and suites, 750 condominiums are being built: 375 in the lower area, 375 in the lower area. The first apartments should be ready for moving in in the second half of 2024. At least that’s what Dan Tubb, senior sales director of “The Towers of the Waldorf Astoria Residences,” as the posh residence is called, says.

“We have already sold many apartments to customers from all over the world,” Tubb is quoted as saying in the Handelsblatt. There are buyers especially in the Middle East and London. “But we also have several buyers from New York who want to move in here.”

Apartments in the engine room

If you are interested in one of the apartments, you should bring the necessary change with you. Prices range from $1.8 million for a one-bedroom apartment to $5-7 million for a three-bedroom apartment and $18.5 million for a four-bedroom apartment measuring around 300 square meters .

For one of the 20 apartments with a terrace you have to pay a little more. The same applies to apartments with a view of the Chrysler Building, just a few hundred meters away. Two duplex apartments will be built in the building’s two towers, which once served as engine rooms. Anyone who wants to know the price of one of these apartments has to sign a non-disclosure agreement.

Anyone staying at the Waldorf Astoria will have their own entrance with their own concierge service – and they won’t have to share the elevator with the hotel guests. A wellness area, dining rooms with professional chefs, terraces and meeting rooms are also planned for future residents. There will also be a pool and winter garden. If you also want to use hotel services such as room service or a restaurant, you can do so with a discount.

The Waldorf Astoria has an eventful history behind it. The name goes back to the ancestor of the founders, Johann Jakob Astor, who was born in Walldorf (Baden) in 1763 and became the richest man of his time in America through the fur and porcelain trade and real estate speculation.

In Chinese hands since 2014

Conrad Hilton bought the management rights to Waldorf Astoria in 1949 before Hilton Hotels Corporation took over the entire hotel in 1972. In 2014, the Chinese Anbang Insurance Group bought the Waldorf Astoria for $1.95 billion. At the same time, Anbang signed a 100-year deal with Hilton to manage the building. The renovation began in 2017, and Anbang started having problems in 2018. China’s chairman Wu Xiaohui has been sentenced to 18 years in prison for corruption. China’s government installed a new company, Dajia Insurance Group, which took over Anbang’s US portfolio and is pushing ahead with the conversion work.