The Waldorf Astoria’s $1 billion partial conversion will create 321 condos, The Real Deal has learned after plans were filed with the city’s Department of Buildings last week. This past summer, there were rumors that the conversion might create as many as 1,000 condos, but developer Anbang has gone with a comparatively conservative plan.
The residential units start on the 14th floor of the building and go upwards. The top four floors of the building will have two apartments per floor, and the three floors below that will have four apartments per floor.
The hotel rooms will be on floors five through 13, and as expected there’s going to be a significant reduction in the number of rooms, going down from 1,413 to 840. The application lists Skidmore, Owings & Merrill as the applicant of record, but it’s possible SOM is collaborating with other firms on the conversion.
New additions include space for retail, a restaurant, and a fitness center. Anbang has decided to keep the ballrooms, exhibition space, dining rooms, and the banquet rooms. The developer will need to get the approval of the city’s Landmarks Preservation Commission to move forward, but in September this year, Anbang agreed to work with the Commission to preserve the hotel’s Art Deco interiors after increasing pushback from preservationists.
Earlier this month, the Commission agreed to calendar an application to landmark the hotel’s interiors. The vote on landmarking will take place at a later time.