Marketing has begun for the residential condominium conversion of the 31-story apartment tower at 1438 Third Avenue between 81st and 82nd Streets that was recently acquired by Broad Street Development, which is headed by Raymond Chalm?nd Daniel M. Blanco.

The beige-brick, mid-block tower had 147 rental apartments and the conversion will create about 87 condominum units.

The project has recently been named Maison East.

The building, which has a 24-hour concierge and doorman, has a one-story rusticated limestone base with a canopied entrance and discrete air-conditioners. The tower is setback at the 2nd and 9th floors, and has some corner windows and it is across the avenue from two other tall apartment buildings.

Apartments are priced from the $700,000s and a784-square foot, one-bedroom apartment with one-and-a-half baths is priced at about $858,000.

The building, which has many balconies, was erected in 1985 with some air-rights from neighboring properties and therefore has excellent views to the west. It was initially known as Turnberry Tower, it was designed by Wechsler, Grasso & Menziuso, whose other Manhattan high-rises include the Europa, Channel Club, Bentley and Highpoint.

Mr. Chalm?ounded Broad Street in 2004 when it acquired the office building at 61 Broadway. He is president of Broad Street and formerly was a principal with JEMB Realty, which is headed by Morris Bailey, who is Mr. Chalm?s father-in-law. Mr. Chalm?ontinues his ownership in assets of 75 Broad Street and Herald Towers. Mr. Blanco is executive vice president of Broad Street and also was formerly with JEMB Realty.