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Inside the Waldorf Astoria’s condo conversion

Luxury buyers will soon be able to own a pad in the famed Waldorf Astoria. Chinese developer Anbang Insurance Group is pouring $ 1 billion into converting the 47-story, hotel into condominiums, according to the Wall Street Journal. And it’s banking on the hotel’s history — of housing presidents, royals and celebrities — to draw in deals. Anbang acquired the iconic Park Avenue building in 2015 for $ 1.95 billion, and the hotel has been closed since

The Real Deal New York

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