August 21, 2018
When the iconic Waldorf Astoria closed in 2017 for the massive renovation promised when Chinese company Anbang Insurance Group acquired it in 2014, the hotel's future held jumbo condos and massive guest rooms. The fate of the Park Avenue landmark has been a topic of drama and discussion ever since, especially given the takeover of Anbang by the Chinese government after the incarceration of the company's chairman, Wu Xiaohui, last year during a fraud investigation. The New York Post now reports that although contractor AECOM Tishman has signed a deal with Anbang and construction is underway for the promised 350 condos and 350 hotel rooms, the project's completion date has been moved from 2020 to 2021.
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