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Nov. 20, 2019

Kramer Levin Advises Anbang in Connection with Offering Plan and Condominium Conversion of Waldorf Astoria

For several years, Kramer Levin has represented Anbang Insurance Group in connection with the Waldorf Astoria Hotel. The representation encompasses a number of elements, including matters involving the landmark status of the interiors and exteriors of the historic property, land use aspects, the implementation of an interim ownership structure and, ultimately, the conversion of the property into a mixed-use condominium. The massive renovation project began in 2017 and is expected to be completed in 2022. Upon completion, the iconic property is expected to feature 375 residential apartments, a hotel comprised of 375 rooms, a wellness club and retail components. The conversion was recently featured in an article published by The Wall Street Journal on Nov. 13.

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