The Real Deal New York

Behind the $2B Waldorf Astoria sale

A blow-by-blow account of Anbang’s deal to buy the iconic hotel
By E.B. Solomont | March 10, 2015 11:40AM

From the March issue: It was a deal no one saw coming when a little-known Chinese insurance company burst onto the scene this fall to buy the iconic Waldorf Astoria for nearly $2 billion. But it turned out to be the largest ever Chinese investment in a single Manhattan property and one that sources described as a “chairman to chairman” deal, negotiated at the highest levels. [more]

  • David

    I think that they are way overpaying for the hotel…..a lot of Chinese investors will lose a lot of money. The cost should have been closer to $400,000 a room, as it will cost almost that to renovate each one.

    • Michael

      They don’t care about the money being invested, as they have 100 billion USD sitting in the bank account..

      The only reason they buy it is prestige so that anyone would know about it and people bring them more deals like this.