The Waldorf Astoria New York is a luxury hotel in Manhattan, New York City. The hotel has been housed in two historic landmark buildings in New York. The first, bearing the same name, was built in two stages, as the Waldorf Hotel and the Astoria Hotel, which accounts for its dual name. That original site was situated on Astor family properties along Fifth Avenue, opened in 1893, and designed by Henry J. Hardenbergh. It was demolished in 1929 to make way for the construction of the Empire State Building. The present building, at 301 Park Avenue between 49th and 50th Streets in Midtown Manhattan, is a 47-story 190.5m Art Deco landmark designed by architects Schultze and Weaver, which was completed in 1931. The current hotel was the world's tallest hotel from 1931 until 1963, when it was surpassed by Moscow's Hotel Ukraina by. An icon of glamour and luxury, the current Waldorf Astoria is one of the world's most prestigious and best known hotels. Waldorf Astoria Hotels and Resorts is a division of Hilton Hotels, and a portfolio of high-end properties around the world, now operate under the name, including New York.From its inception, the Waldorf Astoria gained international renown for its lavish dinner parties and galas, often at the center of political and business conferences and fundraising schemes involving the rich and famous. Particularly after World War II it played a significant role in world politics and the Cold War, culminating in the controversial World Peace Conference of March 1949 at the hotel, in which Stalinism was widely denounced. Conrad Hilton acquired management rights to the hotel on October 12, 1949, and the Hilton Hotels Corporation finally bought the hotel outright in 1972. It underwent a $150 million renovation by Lee Jablin in the 1980s and early 1990s, and in October 2014 it was announced that the Anbang Insurance Group of China had purchased the Waldorf Astoria New York for US$1.95 billion, making it the most expensive hotel ever sold. On July 1, 2016, Anbang announced that it would convert some of the Waldorf's hotel rooms into condominiums, closing the hotel for a three-year renovation on March 1, 2017.
