Wu Xiaohui, the former Anbang Insurance Group chairman and one of Manhattan's most prolific real estate investors, has been sentenced to 18 years in jail in addition to a $1.65 billion asset seizure after being convicted by Chinese authorities for fraud and embezzlement.
Read More
Hilton And Anbang At Odds Over Final Hotel Room Count At The Waldorf Astoria
Drama is beginning to heat up at the Waldorf Astoria, which Anbang purchased in 2015 for $1.95 billion. Anbang had planned to convert the legendary hotel from 1,413 hotel rooms to both 840 hotel rooms with 409 condominiums overseen by Skidmore, Owings, & Merrill (SOM) with construction led by Aecom Tishman.
Read More