Update: The Waldorf Astoria

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Update: The Waldorf Astoria

The conversion of New York’s famed Waldorf Astoria into a hotel and condo is moving right along, though it will take longer than first expected. Anbang Insurance Group, the Chinese firm that picked the property up for nearly $2 billion in 2014, has announced that the initial pre-construction and demolition phase of the renovation has wrapped up and that AECOM Tishman, the project’s construction manager of record, will continue forward with creating roughly 350 condos and 350 hotel rooms within the formerly 1,413-key hotel.

The approximately 350 condos will average 1,747 square feet a pop, with four condos topping the project spanning an impressive 6,100 square feet each. The approximately 350 hotel rooms will also be large, averaging around 650 square feet or, as the Post notes, twice the average hotel room size in Manhattan of 325 square feet. The project’s completion date is slated for 2021.