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Bullmoose Condos are Coming to Gramercy Park

NEW YORK CITY-Alchemy Properties Inc. is spending $20 million to convert an 1890's Beaux-Arts building into 23 residential loft condominium apartments at 42-48 East 20th St.

By Barbara Jarvie | Updated on May 09, 2003

NEW YORK CITY-Touches of New York’s history will soon come alive in Gramercy Park as New York-based developer, Alchemy Properties Inc. will spend $20 million to convert an 1890′s Beaux-Arts building into 23 residential loft condominium apartments at 42-48 East 20th St. Named the Bullmoose Condominium, the building is located on a stretch of East 20th St. known as Roosevelt Way. The name “Bullmoose” is taken from Teddy Roosevelt’s early 20th century political party. Roosevelt was born on the same block, a few doors to the west, which is now a Federal Historic site.

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.

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