Anbang finishes a $7M rehab of lower floors at the Waldorf Astoria Hotel

Anbang Insurance Group, on June 19, completed a $7 million rehab of multiple floors of the Waldorf Astoria Hotel at 301 Park Avenue in the Plaza District.

The plans, pre-filed on July 11, 2017, call for a rehab of cellar, basement, roof, and floors one through four of the 420-foot tall, 43-story building.

The project is described in the filings as: removal of selected interior partitions, ceilings, and doors as filed on plans herewith as shown on drawings filed herewith. No change in use, egress or occupancy. The initial cost as reported in the DOB filing for the work described in this permit application is $7 million.

The world-famous hotel is currently undergoing a massive transformation which will convert the upper floors to 321 condo units, maintaining 840 hotel rooms on floors 5-13. The alteration plans were pre-filed on November 10, 2016 with an estimated cost of $150 million.

Anbang bought the hotel in 2014 for $2 billion, before closing it in 2017 to facilitate construction. In the summer of 2018, the developer announced the initial phase of pre-construction and demolition was complete and aimed for a 2021 completion date.

Direct link to Acris document.LINK

Direct link to DOB document.LINK