Alchemy Properties Inc. paid $11,500,000 million for the eight-story building in June 2002. The area¹s lagging office market, proximity to Gramercy Park, white-hot nightlife and restaurant scene and the beauty of this pre-war building made it a prime candidate for conversion. Working with The NYC City Planning Commission, Alchemy was able to convert the building to full residential use.

The 23-loft residences will be fully built-out two- and three-bedroom units priced from $807,000 to $2,225,000 and range in size from 1,469 sf to 2,735 sf. The apartments will feature classical loft details, oversized living rooms including the original columns, souring ceilings of 10 to 13 feet, first-grade maple floors and living rooms with new oversized Pella windows. The kitchens will be outfitted with Poggenpohl cabinets with 2" Carera marble kitchen countertops and stainless steel appliances that include Sub-Zero refrigerators, Sub-Zero wine coolers, Bosch dishwashers, Bosch washers and dryers, Viking gas ranges and Viking ovens with Prestige hoods.

The four penthouse duplexes, which are 2,164 sf to 2,368 sf in size, will feature private rooftop terraces from 330 sf and four-person outdoor hot tubs. A line of custom Italian bath fixtures will be installed. An exclusive Alchemy line of fixtures includes 54" Italian custom-made double-basin sinks with teak tables and satin nickel hardware as well as custom-made 72" tubs. Separate shower units will be outfitted with steam showers with stone floors and full glass enclosures.