123 Baxter Street
123 Baxter Street is a textbook Yield-Oriented asset that has failed to generate capital appreciation for nearly two decades. Post-sponsor data reveals a "dead money" trap for sellers, with numerous units (especially C and B lines) trading flat or at a loss compared to 2007/2014 pricing levels. However, this pricing stagnation creates a massive opportunity for income investors: because purchase prices are suppressed (~$1,200 PSF) while rental demand remains robust, the building generates gross yields exceeding 5%, significantly outperforming the broader Manhattan average. Buy here strictly for cash flow; do not expect growth.
