|Waldorf Astoria New York Enters Second Phase of Construction with AECOM Following Completion of Demolition and Pre-Construction Efforts|
AECOM Tishman to serve as construction manager throughout the restoration of the legendary hotel destination
NEW YORK, NY – August 21, 2018 – Anbang Insurance Group (“Anbang”) today announced the continuation of restoration efforts at Waldorf Astoria New York, as the iconic hotel enters its second phase of construction. AECOM (NYSE:ACM), a premier, fully integrated global infrastructure firm, has been engaged through its AECOM Tishman business to oversee the construction underway to preserve and transform the property, noted as New York City’s largest private interior landmark, located at 301 Park Avenue. AECOM Tishman served as the construction manager of record for the landmarked building’s initial demolition and pre-construction phase, which began in November 2017 in preparation for new construction within the legendary hotel.
AECOM Tishman’s ongoing work includes construction throughout the building’s hotel and residential components, with completion tentatively scheduled for 2021. The property’s on-site residential sales office is also under construction at the corner of Park Avenue and 50th Street, in anticipation of the start of condominium sales next year. Anbang has also engaged the expertise of consultants to oversee the preservation of several iconic Waldorf Astoria items, including the Cole Porter piano, the World’s Fair Clock Tower, the Kennedy Rocking Chair and the MacArthur Desk.
“The Anbang team is incredibly proud of the tremendous work accomplished so far at Waldorf Astoria New York, as we now enter the next phase of the building’s historic revitalization,” said Andrew Miller, Executive Director of Real Estate Development, Anbang International (US). “AECOM Tishman has been an exceptional partner during initial construction, and we look forward to working alongside them to carry out one of the most extensive restoration and renovation projects in New York City’s history. Anbang understands the magnitude and responsibility of this project and remains committed to delivering an exceptional property befitting of the Waldorf Astoria name. We are confident that AECOM Tishman is the firm to help us do just that.”
"Waldorf Astoria New York will set a new standard for luxury and serve as the flagship property for the Waldorf Astoria brand,” said Dino Michael, Global Brand Head, Waldorf Astoria Hotels & Resorts. “Our anticipation and excitement continue to build as we work closely with Anbang and design teams on the renovation.”
Upon completion, Waldorf Astoria New York will offer approximately 350 residential condominiums, approximately 350 new hotel rooms and suites and renovated public and event spaces for guests. Architectural firm Skidmore, Owings & Merrill (SOM) is the Architect for the entire project, and interior designer Pierre Yves Rochon (PYR) is designing the hotel’s interiors and guest rooms.
“Anbang has imagined something truly spectacular for this global icon and we look forward to delivering their vision,” said Jay Badame, President of AECOM’s Building Construction business. “The city’s eastside is about to embark on a significant transformation, and this project is leading the way in redefining Midtown East.”
Waldorf Astoria New York is internationally regarded as one of the world’s most prestigious luxury hotels, serving as one of architecture’s most revered public structures. The destination was often the site of some of history’s most talked-about social and geopolitical events including The Paris Ball, International Debutante Ball, the Alfred E. Smith Memorial Foundation Dinner, political meetings during the Cold War and the hosting of numerous world leaders and celebrity guests.
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Anbang Insurance Group is a comprehensive insurance group headquartered in China, with a global network of over 35 million clients. Anbang’s business areas cover life insurance, property and casualty insurance, health insurance, pensions, banking and asset management. As a Chinese company with global vision, Anbang is well positioned to growth through the strength of our leading international business and their growth potential.
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