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The 10-story, pre-war building at 142 East 49th Street between Lexington and Third Avenues is being converted to co-operative apartments with condominium-style rules.

The beige-brick building has 44 apartments.

The building has a one-step-up, canopied entrance with a four-step-vestibule and a nice lobby. The building is just to the east of the Marriott New York East Side Hotel that was formerly the Shelton Hotel, one of the city's most important pre-war landmarks.

The building at 142 East 49th Street has an arched entrance by attractive wall lanterns, stringcourses above the second and 8th floor and a cornice. It is half a block from the Waldorf-Astoria Hotel and this is a pleasant residential block.

The mid-block building permits protruding air-conditioners and has no sidewalk landscaping and no garage.

According to Louise Phillips Forbes, senior vice president of Halstead Property Devlopment Marketing, prices for studio apartments start at about $340,000 and at about $530,000 for one-bedroom units. Pets are allowed and occupancy should be ready in three to four months.

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Architecture Critic Carter Horsley Since 1997, Carter B. Horsley has been the editorial director of CityRealty. He began his journalistic career at The New York Times in 1961 where he spent 26 years as a reporter specializing in real estate & architectural news. In 1987, he became the architecture critic and real estate editor of The New York Post.