Alchemy Properties, led by Ken Horn, acquired two adjacent buildings at 1482-1486 First Avenue on the Upper East Side for $33.7 million. The deal includes a vacant medical building and a mixed-use property with Dunkin’ Donuts, plus air rights from neighboring lots. The seller was Parkoff Organization and Prize Network Group, with IDRE Commercial Realty handling the transaction. Alchemy’s plans for the 88,000-square-foot site are not yet revealed. The firm has developed over 3 million square feet of luxury condos.
Ken Horn
