REDUCED.  Spacious Sutton Place South convertible two bedroom. Located at the beautiful and elegant 36 Sutton Place South Apt. 1D. This graciously laid out apartment faces South on quiet E 55 St. A foyer and separate dining area features a mirrored wall which conceals two closets, one quite large. The beautifully proportioned and large living room has high ceilings, cove molding, built in bookcases, hardwood floors and a wall of windows. It is an elegant space for entertaining. The owners have already created a second bedroom also facing South. The retro kitchen is charming and has tons of cabinet space and lovely granite counters. It is separated from the small hall leading to the second bedroom by two doors with antique stained glass panels. The hall to the master suite has two large closets, and the impressively sized master bedroom also has two very large closets. The bath is utilitarian but could use some beautification. Understanding the need for some updating, the owners have intelligently and reasonably priced this apt. at a reduced price of $539,500. maint is $1388.54 per month and there is a Capital Assessment in place of $62.93 per month until 2015. This is certainly a "priced to sell" apt. for such spacious Sutton Place South home. The Co-op is the epitome of a white glove full service building. Doorman plus concierge, live in super, laundry room, gorgeous roof deck with panoramic views plus a zen like private courtyard garden. The apt. is very close transportation, fine dining and shopping. Further it is one of the quietest neighbor hoods in Manhattan. 50% financing required, sorry no dogs or subleasing.