The Allegro (62 West 62 Street)

The Allegro is a Hybrid mature resale condo that serves as a core liquidity anchor in Lincoln Square, outperforming its sub-neighborhood by 5.2%. Post-sponsor behavior is defined by consistent capital compounding, with primary lines doubling in value since the early 2000s normalization. While the 1-bedroom and 2-bedroom engines provide elite liquidity (under 65 days), larger 3BR+ residences suffer from significant liquidity shifts, occasionally requiring over seven months to clear. Income capture is highly efficient for smaller configurations (under 3% leakage), but the building faces yield risks in specific larger stacks where vacancy can evaporate 17% of annual income.

Tony InJe Yeo

Mar 18, 2026

Contents

1. BUILDING OVERVIEW (ANALYST FRAMING)2. UNIT MIX & COMPOSITION 3. LINE (STACK) PERFORMANCE — RESALE ONLY 4. BUILDING-WIDE PPSF TREND (NORMALIZED)5. RENT CAPTURE ANALYSIS 6. B³ SCORING SYSTEM (0–100)7. COMPOSITE SCORE & CLASSIFICATION 8. TRANSACTION EXAMPLES 9. RISKS & RED FLAGS 10. EXECUTIVE SUMMARY B³ SCORECARD

1. BUILDING OVERVIEW (ANALYST FRAMING)

The Allegro (62 West 62 Street) is a mature postwar resale condo built in 1987, located in the Lincoln Square sub-neighborhood of the Upper West Side. This full-service asset scales 27 floors and contains 120 units. The building outperforms Lincoln Square by 5.2% in median PPSF. Based on post-sponsor trading data, the building is classified as a Hybrid asset. It functions as a stable capital store with multi-decade compounding that generally tracks the NYXRCSA Oct 2025 benchmark of 331.14, while maintaining high-efficiency rent capture for small-format units.

2. UNIT MIX & COMPOSITION

The unit mix is transaction-weighted, inferred from 132 recorded sales and 130 rentals.

Unit Type	Sale Count	% of Sales Activity	Impact on Performance
Studio	1	0.8%	Negligible sales impact; high-velocity rental.
1 Bedroom	48	36.4%	Primary liquidity engine; 49-day median DOM.
2 Bedroom	52	39.4%	Core value segment; stable 46–67 day DOM.
3 Bedroom+	17	12.9%	Prestige segment; anchors PPSF but prone to friction.
Other (6BR/PH)	2	1.5%	Bulk/Specialty tier; defines building PPSF floor.

Analysis: The building is 1BR and 2BR dominant, providing a balanced liquidity profile. A structural unit size / unit mix imbalance is observed in the 3-bedroom and larger segments, where marketing periods stretch to 97–228 days, significantly higher than the building-wide median of 62 days.

3. LINE (STACK) PERFORMANCE — RESALE ONLY

Sponsor Normalization Disclosure: Following the B³ rule, 46 transactions occurring between December 2002 and October 2007 (e.g., Units 4D, 7E, 14A, 6G, 23C, 24C, 25D, 10F, 11A, 12C, 21A, 10E, 5G, 7G, 5B, 16B, 22B, 14A, 12A, 8C, 10A, 9E, 8B, 17A, 14E, 25D, PHB, 4B, 24B, 25A) are reclassified as sponsor-driven or conversion-regime due to "No Listing" status or DOM ≤ 30 days within the initial maturity window.

Impact: Normalization removes the artificial "zero-day" floor, establishing a realistic resale-only median DOM of 62 days.

A. Liquidity (Resale Only):

Fastest Units: The 3BR/3.5BA tier clears most efficiently at 23 days.
Slowest Units: The 4-bedroom/5.5-bath tier acts as a chronic bottleneck, sitting for a median of 228 days.

B. Price Strength: The building's median resale PPSF is $1,210.

Structural Premiums: The 2-bedroom/2-bath tier ($1,239 PPSF) and 3-bedroom/3.5-bath tier ($1,416 PPSF) command consistent premiums.
Structural Discounts: The 1-bedroom/1.5-bath tier ($1,058 PPSF) and Studio tier ($923 PPSF) trade at structural discounts to the building median.

4. BUILDING-WIDE PPSF TREND (NORMALIZED)

2003–2005 (Baseline): PPSF was established between $595 and $941 for core residences.
2012–2015 (Expansion): Values moved decisively into the $1,030–$1,474 PPSF range.
2023–2025 (Current Regime): Prices have stabilized between $1,222 and $1,679 PPSF, showing long-term Compounding growth.

5. RENT CAPTURE ANALYSIS

MANDATORY FORMULA: Effective Annual Rent = Achieved Rent × (365 − Rental DOM) ÷ 365.

Unit	Achieved Rent	Rental DOM	Effective Annual Rent	Rent Leakage
11B (1BR)	$4,750	10	$55,699	$1,301 (2.3%)
23D (2BR)	$6,995	24	$79,343	$4,597 (5.5%)
11A (1BR)	$5,400	58	$56,410	$8,390 (13.0%)
25A (2BR)	$9,495	66	$93,814	$20,126 (17.6%)

Analysis: Income capture is highly efficient for smaller units with short DOM (Line B). However, the building suffers from significant income leakage (13%–17.6%) when absorption friction exceeds 50 days, notably in the 2-bedroom segment (Line A).

6. B³ SCORING SYSTEM (0–100)

Liquidity Score: 85/100 — Driven by a strong 62-day median DOM and consistent market depth across 1BR and 2BR lines.
Rent Capture Score: 78/100 — High nominal Yearly PPSF ($88 in 2025) is offset by cyclical vacancy leakage in larger units.
Appreciation Score: 75/100 — Reflects reliable multi-decade compounding from ~$600 baselines to current ~$1,600 peaks.

7. COMPOSITE SCORE & CLASSIFICATION

Composite Score = (85 × 0.35) + (78 × 0.30) + (75 × 0.35) = 79.4.

Category: Hybrid The Allegro qualifies as a Hybrid asset, providing a dependable liquidity engine for resales while functioning as a strong income generator, consistently tracking the NYXRCSA index trajectory.

8. TRANSACTION EXAMPLES

Resale Appreciation Examples:

Unit 21A (2BR): $723 PPSF (2003) → $1,630 PPSF (2025). +125.4% Total / 3.8% CAGR. Drivers: (5) Sponsor price normalization, (1) Market regime timing.
Unit 12A (1BR): $941 PPSF (2005) → $1,466 PPSF (2022). +55.8% Total / 2.6% CAGR. Drivers: (5) Sponsor price normalization, (1) Market regime timing.
Unit 5G (1BR): $881 PPSF (2004) → $1,362 PPSF (2017). +54.6% Total / 3.4% CAGR. Driver: (1) Market regime timing.
Unit 26B (2BR): $1,864 PPSF (2021) → $1,940 PPSF (2024). +4.1% Total / 1.3% CAGR. Driver: (2) Line-level premium persistence.

Resale Stagnation/Depreciation Examples:

Unit 5F (2BR): $1,222 PPSF (2025). Mean-reverting relative to higher building peaks. Driver: (1) Market regime timing.
Unit 21C (2BR): $1,602 PPSF (2023) at 105 DOM. Driver: (3) Liquidity shift.
Unit 7F (1BR): $1,027 PPSF (2009) → $1,162 PPSF (2024). Minimal growth. Driver: (1) Market regime timing.
Unit PH (6BR): $1,147 PPSF (2023). Deep discount (-35.5%) from original ask. Driver: (4) Unit size / unit mix imbalance.

9. RISKS & RED FLAGS

Large Format Liquidity Friction: Avoid the 4BR and 6BR segments for short-term exit strategies; a 228-day median DOM signals a severe lack of secondary market depth.
Pricing Discovery Gap: Unit 21C and the Penthouse exhibit high original ask discounts (up to 35.5%), indicating seller expectations are often misaligned with the NYXRCSA Oct 2025 benchmark levels.
Line A Yield Volatility: The A-line (1BR/2BR) rentals face higher absorption friction (58–66 days), resulting in 13%–17% income leakage.

10. EXECUTIVE SUMMARY

The Allegro is a Hybrid mature resale condo that serves as a core liquidity anchor in Lincoln Square, outperforming its sub-neighborhood by 5.2%. Post-sponsor behavior is defined by consistent capital compounding, with primary lines doubling in value since the early 2000s normalization. While the 1-bedroom and 2-bedroom engines provide elite liquidity (under 65 days), larger 3BR+ residences suffer from significant liquidity shifts, occasionally requiring over seven months to clear. Income capture is highly efficient for smaller configurations (under 3% leakage), but the building faces yield risks in specific larger stacks where vacancy can evaporate 17% of annual income.

B³ SCORECARD

Liquidity Score: 85
Rent Capture Score: 78
Appreciation Score: 75
Composite Score: 79.4
Category Label: Hybrid
Unit Mix Summary: 1BR/2BR dominant (75.8% activity).

Disclosures: 46 transactions reclassified as sponsor-driven (2002–2007 window). NYXRCSA Oct 2025 Benchmark: 331.14.