One of New York City’s most storied landmarks may soon change hands again.
According to a report from The Wall Street Journal, China’s state-run Dajia Insurance Group is preparing to bring the newly restored Waldorf Astoria New York to market as early as next month. The potential sale would be handled by real estate investment bank Eastdil Secured and is expected to include the hotel’s restaurants, retail spaces, and other amenities. The building’s private branded residences, however, would continue to be sold separately.
The move marks another dramatic chapter in the life of the Park Avenue icon.
Originally opened in 1931, the Waldorf Astoria became synonymous with Manhattan luxury and global diplomacy. In 2015, China’s Anbang Insurance Group acquired the property from Hilton for $1.95 billion in one of the largest U.S. hotel transactions at the time. Plans for a sweeping redevelopment soon followed.
The hotel closed in 2017 for what was initially projected to be a two- to three-year renovation. Instead, the transformation stretched across eight years and reportedly cost $2 billion. The timeline was disrupted by the COVID-19 pandemic and by a high-profile corruption scandal that led to the Chinese government seizing control of Anbang in 2018. Its assets, including the Waldorf, were transferred to the newly formed Dajia Insurance Group.
When the hotel finally reopened last June, it emerged radically reimagined.
The number of guest rooms was dramatically reduced from approximately 1,400 to just 375, allowing for some of the largest standard hotel rooms in New York City, starting at 570 square feet. The redesign was led by Skidmore, Owings & Merrill, with interiors by Pierre-Yves Rochon, blending restored Art Deco elements with contemporary luxury.
Dining and hospitality offerings were also elevated. The property now features three food and beverage venues, including Lex Yard, a two-story brasserie overseen by chef Michael Anthony, and the Peacock Alley Lounge, a hallmark of the Waldorf Astoria brand. A 30,000-square-foot spa—among the largest in the city—anchors the wellness component, alongside a high-end fitness center.
The hotel’s event footprint remains formidable, with 43,000 square feet of event space across 17 venues, including restored classics like the Jade Salon.
Above the hotel sits the Waldorf Astoria Residences New York—375 private homes ranging from studios to four-bedroom apartments. Designed by Jean-Louis Deniot, the residences offer sweeping city views and access to both hotel services and 50,000 square feet of exclusive amenities. The residential component also features an art collection curated by Swiss auctioneer Simon de Pury.
If the sale proceeds, it will test investor appetite for ultra-luxury hospitality assets in a post-pandemic environment, particularly those with international ownership histories. The Waldorf’s scale, pedigree, and newly completed renovation make it one of the most high-profile hospitality listings in years.
Nearly a century after first opening its doors, the Waldorf Astoria once again stands at a crossroads—newly polished, historically rooted, and potentially poised for another change in stewardship.
