Waldorf Astoria Hotel in NYC Up for Sale After $2B Overhaul

Chinese owners Dajia Insurance Group plan to sell the iconic luxury hotel after extensive renovations.

Published on Feb. 12, 2026

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The Waldorf Astoria, the iconic luxury hotel in New York City, is headed for the auction block. Dajia Insurance Group, the Chinese state-backed owner of the Park Avenue property, is preparing to sell the hotel after completing a sweeping $2 billion renovation that converted many of its rooms into condominiums. The hotel was previously owned by Anbang Insurance Group, which bought it for $1.95 billion in 2014 before closing it for the extensive overhaul.

Why it matters

The sale of the Waldorf Astoria marks a major transition for one of New York City's most prominent and culturally significant hotels. The extensive renovation project, which lasted 8 years and cost over $4 billion in total, highlights the challenges of preserving historic landmarks while modernizing them. The sale also comes amid a flurry of high-profile hotel transactions in New York's luxury market, underscoring strong investor appetite for premium Manhattan properties.

The details

The renovation project reworked 1.6 million square feet of interior space and converted roughly half the building to residential use, reducing the hotel rooms from around 1,400 to 375. Developers replaced all 5,584 windows with historically accurate replicas and cleaned or replaced 1.37 million exterior bricks to preserve the landmarked facade. The cavernous lobby was also restored to its original 1931 proportions. The renovation carved out 372 private residences within the tower, with units priced from $1.8 million for a studio to over $18 million for a four-bedroom apartment.

  • Anbang Insurance Group bought the Waldorf Astoria for $1.95 billion in 2014.
  • Anbang closed the property in 2017 and began a $2 billion overhaul.
  • Chinese regulators seized control of Anbang in 2018 and created Dajia Insurance Group to take over its assets.
  • The renovation project lasted 8 years and was completed in 2025.
  • Dajia Insurance Group is now preparing to sell the Waldorf Astoria in 2026.

The players

Dajia Insurance Group

The Chinese state-backed owner of the Waldorf Astoria property that is now preparing to sell the iconic hotel.

Anbang Insurance Group

The previous owner of the Waldorf Astoria, which bought the hotel for $1.95 billion in 2014 before closing it for a $2 billion renovation project.

Eastdil Secured

The real estate investment banking firm that is expected to market the Waldorf Astoria property on behalf of Dajia Insurance Group.

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What’s next

The sale of the Waldorf Astoria is expected to be a high-profile transaction in New York's luxury hotel market, which has seen a flurry of big-ticket deals over the past year.

The takeaway

The Waldorf Astoria's journey from Anbang's $1.95 billion acquisition to Dajia's $2 billion-plus renovation and now planned sale highlights the challenges and opportunities in preserving historic landmarks while modernizing them for the luxury hospitality market.