The official residence of the United States' Permanent Representative to the United Nations, an unnamed 42nd-floor apartment, was located in the Waldorf Towers for many years. On June 17, 2015, however, the US Department of State announced that it was moving its headquarters during meetings of the UN General Assembly to The New York Palace Hotel. Although State Department officials did not give an official reason for the change affecting both the President and hundreds of American diplomats and support staff who travel to New York for the General Assembly each September and usually stay and hold meetings on two secured floors at the Waldorf, they pointed to Hilton Worldwide's sale of the Waldorf-Astoria to China's Beijing-based Anbang Insurance Group for $1.95 billion in 2014, a deal that prompted security concerns. While the terms of the sale allow Hilton to run the hotel for the next 100 years, they also call for "a major renovation" that the officials say has raised eyebrows in the US Government because of concerns about Chinese eavesdropping and cyber espionage.