The Waldorf Astoria’s condo conversion is finally moving forward, six months after the hotel shuttered, the New York Post reports. The newspaper has learned that the development team has finally hired a demolition crew to begin work next month.
The city’s Landmarks Preservation Commission had signed off on the conversion of the landmarked interiors of the building in April, but no major work had gotten underway at the site despite the approval. A source told the Post, that the development team was taking inventory of the hotel following the Landmarks Commission’s verdict, and hence the delay with the revamp.
Now sources have told the Post that there’s some friction over the revamp between Hilton Hotels, the group managing the hotel, and Anbang, the Chinese development firm that owns the hotel. Rumor has it that Hilton was expecting more hotel rooms to stay following the conversion, but now it will only get between 350 to 400 rooms.
Furthermore, reports emerged this past summer that the head of Anbang, Wu Xiaohui, was under investigation by Chinese authorities, and that Anbang might potentially sell their U.S. assets.
But things might finally be back on track, and a source with Anbang told the Post that they were still on track to complete the project in three years.