18 Photos That Show Why New York City's Waldorf-Astoria Hotel Is So Legendary

The iconic Waldorf-Astoria hotel is being sold to Chinese insurer Anbang Insurance Group Co. Ltd for about $1.95 billion.

The 121-year-old hotel is a landmark in New York City: It has hosted dignitaries, politicians, and world-famous celebrities like Elizabeth Taylor and Princess Grace. It has also served as the home-away-from home for every US President since Herbert Hoover, and has hosted foreign royalty like the Duke and Duchess of Windsor.

And now it's entering a new chapter, though Hilton will continue to manage the property.

Rooms in the Waldorf begin at $399, while rooms in the Towers begin at $699 for suites and $1,299 for presidential-style suites.