David Barboza

WaldorfAstoria… like Japanese investors in the 1980s, Chinese buyers today have helped to push up the price tag for iconic buildings in the market …

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  1. shinichi Post author

    Chinese Return to the Waldorf, With $2 Billion

    by David Barboza



    After President Richard Nixon’s historic opening to China, Deng Xiaoping, the vice premier and eventual paramount leader of this country, made his first trip to the United States for a meeting at the United Nations in the spring of 1974.

    He stayed in Midtown Manhattan at the regal Waldorf-Astoria hotel, where Secretary of State Henry A. Kissinger hosted a banquet for Mr. Deng and other dignitaries.

    Forty years later, an obscure Chinese insurance company is now buying the landmark hotel with plans to restore the 83-year-old Art Deco building to its original splendor. The company is run by Mr. Deng’s grandson-in-law.


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