Alchemy Properties Inc. was started in 1990 by Kenneth S. Horn, 44. Prior to starting Alchemy, Mr. Horn practiced law in the early 1980s at two major law firms in New York City specializing in real estate law. In the mid to late 1980s, Mr. Horn successfully converted over 2,000 apartments to cooperative in New York City overseeing the acquistion, financing and renovation of these projects. Another partner at the firm is Joel Breitkopf, 37, who joined Alchemy in 1993. Mr. Breitkopf's background is in finance and acquisitions. Gerry Davis, 40, is an architect who joined Alchemy in 1998 in the capacity of owner's representative.

Alchemy's development philosophy is simple: We develop luxury high-end condominiums in prime Manhattan areas at prices that are slightly lower than established market prices thus delivering to our customers high quality and excellent value.

Alchemy Properties Inc.has made fifteen acquisitions in the New York City metropolitan area since 1996. As principal, it has purchased over 500 apartments and has recently bought, renovated and successfully converted to loft condominium the following properties: