Alchemy Properties Inc. has become one of Manhattan's most successful niche developers since its establishment by Kenneth S. Horn in 1990.

For most of the company's first five years, Alchemy assisted lenders, developers, and others in working out portfolios of failed cooperative and condominium apartments.

The company acquired, restructured, refinanced, marketed, and sold a large number of cooperative and condominium units and defaulted mortgages as both consultant and as principal from 1994 to 2004.

Since 1996, Alchemy has also acquired and/or developed over One Million (1,000,000) square feet of high end residential and commercial projects in the tri-state area.

Alchemy Properties Inc. has concentrated on developing luxury buildings and has gained a reputation for providing top-of-the-line finishes at below market pricing.

Residential Buildings of note include:

• The Keystone Condominium (Tribeca)
• The Soho Greene Condominium (SoHo)
• Bond Street Lofts (NoHo)
• The Paradigm Condominium (Chelsea)
• The Bullmoose Condominium (Gramercy Park)
• 120 Gramercy Hill Condominium (Gramercy Park/Murray Hill)
• The Lion's Head Condominium (Chelsea)
• The Lookout Hill Condominium (Brooklyn)
• The Oculus Condominium (Chelsea/Greenwich Village)
• The Sutton East Condominium (Sutton Place)
• The Indigo Condominium (Chelsea)
• Hudson Hill Condominium (Columbus Circle West)
• The Isis Condominium (Upper East Side)

Kenneth S. Horn, Esq. founded Alchemy Properties Inc. in 1990. Mr. Horn has been actively involved in development and other aspects of real estate in the metro area for 23 years. A graduate of Brandeis University (1978) and the University of California, Hastings College of the Law (1981), Mr. Horn was admitted to the New York State Bar in 1982. Since 1990, Mr. Horn has been directly responsible for the acquisition, renovation, development, financing, marketing and conversion of over 2,600 apartments in the New York City region. Alchemy has developed over Twenty (20) residential buildings in Manhattan, Brooklyn and Queens either as ground-up structures or rehabilitations. Alchemy has sold over Two Thousand (2,000) apartments in these properties in excess of Four Hundred Million ($400,000,000) Dollars. Throughout the various projects that Mr. Horn has been associated with, he has played his firm's major role in purchasing the asset, strategizing the development and overseeing the financing, construction and marketing of the units. Mr. Horn currently oversees the development, marketing and acquisition of new Alchemy projects.

Joel Breitkopf, partner in Alchemy, is also President of Alchemy Mortgage Finance and principal mover in arranging financing from partners such as AEW, CSFB, DLJ Capital Partners, ING Realty Partners and the Geometry Group. Mr. Breitkopf is involved in all aspects of the Alchemy developments from acquisition to completion. Mr. Breitkopf joined Alchemy in 1993 to create the Mortgage Finance division. Previously, Mr. Breitkopf was an executive at Commercial Bank of New York and was Vice President of Acquisitions and Finance for a Manhattan real estate owner/operator. He was also a real estate loan officer at Chemical Bank Realty and, prior to that, an analyst at LaSalle Partners, a national real estate advisor. Mr. Breitkopf was also President of B'Nai Brith Real Estate, an affiliate of B'Nai Brith International, and numerous other industry groups. Mr. Breitkopf has financed over $1 Billion worth of real estate transactions. Mr. Breitkopf is a graduate of the University of Pennsylvania.

Gerald R. Davis is responsible for the daily operations of Alchemy's development projects. Prior to joining Alchemy, Mr. Davis was Director of Acquisitions at Olmstead Properties Inc., responsible for broker and partner relationships, due diligence, financial analysis, structuring, and contract negotiations for all new acquisitions as well as the annual budgets for more than 2,000,000 square feet of NYC commercial property coordinating between leasing and property management professionals. Before Olmstead Mr. Davis was Executive Vice President of Stellar Management, responsible for acquisitions, asset and construction management for Stellar's Commercial portfolio. Before joining Stellar, Mr. Davis was a Vice President in the Commercial Real Estate division of M&T Bank, responsible for originating and underwriting more than $400 million worth of transactions and administration of a $500 million portfolio.

Among his professional affiliations, Mr. Davis is a member of a numerous industry groups and a past Chairman of the Young Mortgage Bankers Association. Mr. Davis is a Registered Architect in the State of New York and a member of the American Institute of Architects, having received his undergraduate degree from Cornell University and apprenticed at John Burgee Architects in New York City. He also received a Master of Science in Real Estate from New York University and a Master of Business Administration from Columbia University.