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Carter's View

Alchemy Properties plans to develop a 52-unit residential condominium building in Chelsea at 125 West 21st Street.

The project is known as The Indigo Condominium and it will be 13 stories tall.

FXFowle is the architect.

An offering plan on file with the New York State Attorney General's Office indicates that the initial purchase price for the 52 units will be $74,760,000 and that 30 storage lockers will be offered for a total of $1,350,000 and that the building will also have one commercial unit that will be priced at $4,000,000.

The building, which is between Avenue of the Americas and Seventh Avenue, will have some terraces and a 24-hour lobby attendant.

A 605-square foot studio is priced at about $585,000 and a two-bedroom, 2-bath unit with 1,159 square feet of space and 236 square feet of external space is priced at about $1,295,000. A two-bedroom, two-bath penthouse with 1,449 square feet of space in 769 square feet of external space is priced at about $2,005,000.

A spokesperson for Alchemy Properties said that it anticipates acceptance of the offering plan by the Attorney General's Office later this month and that renderings should be available in January when marketing for the project is expected to begin.

Alchemy Properties has developed numerous condominium projects in recent years such as 57 Bond Street, 120 Gramercy Hill at 120 East 29th Street, the Keystone, the Lion's Head at 121 West 19th Street, the Paradigm at 146-8 West 22nd Street, the Bullmoose at 42-8 East 20th Street. It is also building the Oculus at 50 West 15th Street. Kenneth Horn is the president of Alchemy Properties.
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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.