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.