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Carter's View

Alchemy Properties is converting the Sutton East Hotel at 330 East 56th Street to 76 condominium apartments.

It acquired the mid-block building recently for about $52 million from Glenwood Management.

The Georgian-style, red-brick building has a canopied entrance and is between Second and First Avenues.

Alchemy has been one of the more active residential developers and converters in recent years in Manhattan. Its other projects include the Keystone Building at 38-44 Warren Street, the Alchemy Condo at 36-40 West 13th Street, The Paradigm Building at 146-8 West 22nd Street, the Lion's Head Condominium at 121 West 19th Street, the Gramercy Mews Condo at 136 West 19th Street, the Bullmoose Condominium at 42-8 East 20th Street, The Chelsea Quarter Condo at 129 West 20th Street, and 120 Gramercy Hill at 118-126 East 29th Street.

The hotel closed last month. The lobby has polished marble floors and the building has a private health club with a 55-foot pool, a garage, a concierge, an attractive entrace marquee and sidewalk landscaping.

The restaurant Il Valinetto is located in the building and will open shortly after renovations.
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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.