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Trump International Hotel and Tower (1 Central Park West)
Trump International is a high-prestige, Hybrid (At Risk) asset that acts as an absolute price leader in Lincoln Square but fails as a capital growth vehicle. Post-sponsor behavior is defined by flat-to-negative compounding in major stacks and significant income leakage, where nearly 40% of potential rental income is lost to absorption friction (DOM). Opportunity is restricted to high-liquidity 2BR lines, while the larger 3BR+ units are trapped in a mean-reverting cycle where 2025 trades are failing to maintain mid-decade peaks.
Executive Plaza (150 West 51st Street)
Executive Plaza is a high-density, Yield-Oriented asset that acts as a Midtown rental factory but fails as a capital preservation vehicle. While it offers high transaction liquidity, its price behavior is flat/cyclical, trailing both the NYXRCSA benchmark and its local sub-market. Income is the primary driver, yet Effective Annual Rent is frequently eroded by extreme absorption times (DOM), which can reach over 200 days. Investors capture nominal rent but lose significant economic value to time, making this an "at-risk" asset for those not closely managing vacancy.
The Corinthian (330 East 38th Street)
The Corinthian is a mature, Yield-Oriented asset that serves as a major liquidity provider in Murray Hill but fails as a vehicle for capital growth. Post-sponsor behavior is characterized by flat compounding and significant income leakage due to a high median rental DOM. While the 3BR+ lines capture occasional premiums, the dominant 1BR and Studio inventory is trapped in a mean-reverting cycle where trades in 2025 mirror levels seen over a decade ago. Investors should focus on the Effective Annual Rent rather than nominal prices to account for the consistent vacancy friction.
The Plaza Residences (1 Central Park South)
The Plaza Residences is a Hybrid asset that functions more as a store of absolute value than a vehicle for capital growth. While it significantly outperforms its sub-market in absolute PPSF, its post-sponsor behavior is marked by zero-to-negative compounding and extreme income leakage. Rent capture is inconsistent, with larger units frequently remaining vacant for over six months. Opportunity is restricted to specific line-level premiums in the 2BR/3BR stacks, while the 1BR units have faced massive sponsor price normalization and loss of value over time.
