Cocoa Exchange (1 Wall Street Court)
Cocoa Exchange (1 Wall Street Court) is a Yield-Oriented (Stagnant) asset that behaves like a high-yield bond. While the broader NYC market has tripled since 2000 (NYXRCSA ~330), this building has seen zero nominal appreciation for 2-bedroom units over the last 15-20 years. Studios have fared slightly better, appreciating at ~2% annually. The building's core strength is its rental engine: studios command $100+ PSF and lease quickly (<30 days), offering investors consistent 6.5%+ gross yields. It is a "buy-to-rent" asset where equity preservation is uncertain, and growth is non-existent.
