New York’s Iconic Waldorf Astoria Hotel Listed for Sale After $2 B Renovation by Chinese Owners

Waldorf Astoria New York Up for Sale After Major Renovation

The iconic Waldorf Astoria hotel in New York City is being listed for sale by its Chinese state‑backed owner, Dajia Insurance Group, just months after the property reopened following a lengthy multi‑billion‑dollar renovation. 

Historic Transformation

Originally purchased in 2014 by Anbang Insurance Group for US$1.95 billion, the property was closed in 2017 for an extensive overhaul that lasted eight years and ultimately cost more than $2 billion on top of the acquisition price. The renovation reduced the number of hotel rooms from around 1,400 to 375 and added 372 private residences within the building.

Market Listing Details

Real estate investment bank Eastdil Secured is expected to market the hotel on behalf of Dajia. The sale is anticipated to carry a price tag in excess of a billion dollars, which could limit the pool of potential buyers to well‑capitalised institutional investors, sovereign wealth funds and luxury real estate groups. 

Commercial and Residential Split

While the hotel’s rooms, restaurants, retail spaces and amenities are part of the sale package, the 372 private residences carved out during renovation are being sold separately to individual buyers.

Luxury Market Context

The planned sale comes as New York’s luxury hotel market continues to see strong investor interest, with several high‑value transactions in recent months underscoring robust demand for premium hospitality assets.

Conclusion

The sale of the Waldorf Astoria represents a major moment in Manhattan’s luxury hospitality sector — a landmark property returning to the market after a complex, costly restoration and repurposing that blends historic preservation with modern residential and hospitality use.