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Waldorf Astoria’s property changes

The famous Hotel in New York City sold to a Chinese company

by Luca Manzoni
October 12th, 2014

Not only Italy, also New York sells one of its most iconic architectural jewels. The legendary Waldorf Astoria has been sold by Hilton group to a Chinese company for $ 1.95 billion. Hilton will continue to manage the hotel for the next 100 years.

The new owners: a Chinese insurance company, Anbang Insurance Group, which purchased the property with the commitment to restore the hotel bringing it back to its historic grandeur. The hotel has a long history: designed by Henry J. Hardenbergh, originally it was composed by two adjacent structures, the first one built in 1893 at the corner of 34th Street and Fifth Avenue (Waldorf Hotel), the second one in 1897 (Astoria Hotel). The two structures were demolished in 1929 for the construction of the Empire State Building; in 1931 the Waldorf Astoria was rebuilt at 301 Park Avenue in pure Art Deco style by the architects Schultze and Weawer.

Important celebs spent their time within these walls: royals, presidents, movie stars, sports personalities, even gangsters of the Prohibition-era. Inside it, 1,415 rooms, restaurants, spas, and a private railway station which is part of the Grand Central Terminal with an elevator connected that could carry the car of the President of the United States Franklin Delano Roosevelt, regular guest of the hotel.

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