Location: 330 East 56th Street, between First and Second Avenues, Google Maps

The Sutton on East 56th Street, bought by Alchemy Properties for $52.25 million, will shutter in June 2005 so it can resurface later this year as a condo building. Alchemy president Kenneth Horn says a conversion has been in the cards for the Sutton since its renovation in the nineties, but the market fell and plans were put on hold.

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Discuss Sutton Hotel Condominium at Wired New York Forum