The New Waldorf Astoria Residences in NYC: A Landmark Revival with Luxury Condominiums

By Bert R Dweck

The historic Waldorf Astoria Residences in New York City have reached a new milestone with the sale of the first three condominiums, marking the beginning of a highly anticipated real estate era for this legendary property. According to multiple reports, including an exclusive by The New York Post, these initial transactions have collectively surpassed $7 million, underscoring the high demand for the revitalized luxury landmark. This significant development comes as the Waldorf Astoria prepares to reopen its doors this spring after an extensive eight-year renovation, as originally reported by The New York Post.

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The Waldorf Astoria Residences offer a range of exquisite dwellings, from $1.8 million studio apartments to opulent four-bedroom suites and penthouses that exceed $70 million. Sales director Loretta Shanahan has revealed that the new owners come from a mix of local New Yorkers and international elite buyers, highlighting the global prestige of the property. The project is being spearheaded by Douglas Elliman Development, with interiors meticulously designed by renowned French designer Jean-Louis Deniot. Furthermore, buyers have the option to purchase furnished residences curated by B&B Italia and interior designer Josh Greene. This information has captivated luxury real estate enthusiasts worldwide.

The monumental $2 billion restoration of the Waldorf Astoria has been led by the distinguished architectural firm Skidmore, Owings & Merrill, ensuring that the iconic hotel retains its Art Deco grandeur while integrating modern luxury. The New York Post reported that in an effort to enhance the artistic atmosphere of the residences, famed auctioneer and art dealer Simon de Pury has carefully curated a collection of modern art to adorn the private spaces. These details showcase the meticulous craftsmanship involved in reviving one of New York City’s most storied hotels.

The Waldorf Astoria’s history is as remarkable as its architecture. Originally acquired by Anbang Insurance Group—a Chinese state-linked entity—for $1.95 billion in 2014, the hotel was subsequently placed under the long-term management of Hilton, which signed a 100-year contract. However, the project encountered turbulence in 2017 when the Chinese government arrested Anbang’s chairman, Wu Xiaohui, on corruption charges.  Wu, who was notably married to the granddaughter of former Chinese leader Deng Xiaoping, has not been seen since his arrest. Ownership of the hotel has since transitioned to another Chinese government-affiliated firm, Dajia Insurance Group. These intricate details add a complex international dimension to the narrative of the Waldorf Astoria’s revival.

Beyond its financial and political intrigue, the Waldorf Astoria has long been an epicenter of culture and history. Legendary figures such as Cole Porter, Frank Sinatra, and Marilyn Monroe once called it home, while its kitchens pioneered the creation of the world-famous Waldorf salad. Additionally, beneath its luxurious facade lies a hidden piece of history—a secret train track used by President Franklin D. Roosevelt, adding to the mystique of this legendary property.

Residents of the Waldorf Astoria’s new condominiums will enjoy an exclusive 50,000 square feet of private amenities designed by Jean-Louis Deniot. These include a serene skylit swimming pool, a state-of-the-art fitness center, and a wellness retreat, complemented by a winter garden, a business hub, a private theater, and versatile event spaces. Additionally, the reopening of the hotel will feature 375 elegantly redesigned guest rooms—downsized from the original 1,400—available for reservations beginning September 1. Condo owners will further benefit from access to the hotel’s expansive 100,000-square-foot amenities, creating an unparalleled living experience. These luxury offerings position the Waldorf Astoria Residences as one of the most prestigious real estate ventures in the city.

As the countdown to its grand reopening continues, the Waldorf Astoria Residences New York stands as a testament to timeless luxury, blending historic elegance with modern grandeur. With sales underway and a rebirth on the horizon, the property remains one of the most coveted addresses in the world.

Bert R Dweck is the  President of the “Young Journalist Initiative” at The Jewish Voice