The front entrance to the Waldorf Astoria in Manhattan, one of the most famous hotels in the world. The Waldorf, now closed for renovations and partial conversion to condominiums, is up for sale now that the Chinese government has assumed control of its owner, the Anbang Insurance Group. Photo: AFP  The front entrance to the Waldorf Astoria in Manhattan, one of the most famous hotels in the world. The Waldorf, now closed for renovations and partial conversion to condominiums, is up for sale now that the Chinese government has assumed control of its owner, the Anbang Insurance Group. Photo: AFP 
The front entrance to the Waldorf Astoria in Manhattan, one of the most famous hotels in the world. The Waldorf, now closed for renovations and partial conversion to condominiums, is up for sale now that the Chinese government has assumed control of its owner, the Anbang Insurance Group. Photo: AFP 
Business /  Companies

Iconic Waldorf Astoria hotel is part of China's US property fire sale - but don't expect a bargain

Spooked by Beijing’s tightened grip, Chinese firms are exiting the American market, but some are still seeing a profit

Topic |   Chinese offshore investment
Jodi Xu Klein
Jodi Xu Klein

Updated: 9:41pm, 4 May, 2018

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The front entrance to the Waldorf Astoria in Manhattan, one of the most famous hotels in the world. The Waldorf, now closed for renovations and partial conversion to condominiums, is up for sale now that the Chinese government has assumed control of its owner, the Anbang Insurance Group. Photo: AFP  The front entrance to the Waldorf Astoria in Manhattan, one of the most famous hotels in the world. The Waldorf, now closed for renovations and partial conversion to condominiums, is up for sale now that the Chinese government has assumed control of its owner, the Anbang Insurance Group. Photo: AFP 
The front entrance to the Waldorf Astoria in Manhattan, one of the most famous hotels in the world. The Waldorf, now closed for renovations and partial conversion to condominiums, is up for sale now that the Chinese government has assumed control of its owner, the Anbang Insurance Group. Photo: AFP 
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