The owners of the Waldorf Astoria plan to convert 1,000 of the landmarked hotel’s rooms into luxury condos and turn the remainder of the space into a smaller five-star hotel, it was reported Tuesday.

China-based Anbang Insurance Group bought the famed hotel at Park Avenue and East 50th Street for $1.95 billion in 2014, and the firm’s chairman, Wu Xiaohui, later talked about the conversion without offering specifics.

But Anbang now has a more detailed plan that will see roughly 1,000 of the 1,420 rooms converted into luxe residential living spaces, Crains New York reported, citing sources.

A spokesman for Anbang would not confirm the plan.

“We continue to explore all options, and no definitive plans have been finalized at this time,” the rep told Crains.