Multifamily · New York, New York
111 Fourth Avenue
111 Fourth Avenue is financed with a $14.1M CMBS loan at 2.725% that reaches maturity on February 1, 2031, in 4 years and 3 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $14,149,436
- Original balance (same notes)
- $15,000,000
- Interest rate
- 2.725% fixed
- Originated
- January 26, 2021
- Maturity
- February 1, 2031
- Payments
- Interest only for 36 months, then amortizing
- Prepayment lockout ends
- October 31, 2030
- Master servicer
- Trimont LLC
- Originator
- MSBNA
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 111 Fourth Avenue, New York, NY 10003
- Metro
- New York-Newark-Jersey City, NY-NJ
- Units, rooms or beds
- 161
- Built
- 1921, renovated 1988
- Value at securitization
- $187.1M
Performance
| At securitization | Latest (Dec 2025) | |
|---|---|---|
| DSCR (NOI) | 3.92x | 1.60x |
| Occupancy | 100% | 98% |
| Net operating income | $2.9M | $1.2M |
| Debt yield | 8.3% |
Debt yield here is the latest NOI divided by the balance held in the trusts below. If part of the loan sits outside them, the true figure is lower.
Watch flags
Computed from the BANK 2021-BNK32 filing for the reporting period ending September 11, 2026, filed with the SEC October 1, 2026.
- Coverage down 0.25x or more from securitization
- NOI down 20% or more from securitization
cmbs.news's own rule-based labels on the filed fields (definitions), not a credit rating, a prediction or a view of the borrower.
What the filing shows
- Net operating income is 59% below the underwritten figure ($1.2M a year against $2.9M).
- Debt service coverage moved from 3.92x at securitization to 1.60x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $14.1M | Current | No | 1.60x | 98% |
| August 2026 | $14.2M | Current | No | 1.60x | 98% |
| July 2026 | $14.2M | Current | No | 1.60x | 98% |
| June 2026 | $14.2M | Current | No | 1.60x | 98% |
| May 2026 | $14.3M | Current | No | 1.60x | 98% |
| April 2026 | $14.3M | Current | No | 1.60x | 98% |
| March 2026 | $14.3M | Current | No | 1.60x | 98% |
| February 2026 | $14.3M | Current | No | 1.60x | 98% |
| January 2026 | $14.4M | Current | No | 1.99x | 98% |
| December 2025 | $14.4M | Current | No | 1.99x | 98% |
| November 2025 | $14.4M | Current | No | 2.15x | 98% |
| October 2025 | $14.5M | Current | No | 2.15x | 98% |
From each trust's ABS-EE filing for that month. Coverage and occupancy change only when the servicer reports new statements. If one trust holding a piece of the loan skipped a month, that month's balance reads low.
Where the loan sits
One trust holds this loan in the data.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| BANK 2021-BNK32 | 15 | $14,149,436 | Sep 2026 | SEC filing, October 1, 2026 |
Other New York-Newark-Jersey City loans due in 2031
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| 375 Pearl Street | New York, NY | Office | $220.0M | 3.368% | Jun 2031 | 2.15x | 100% | Current |
| Park Avenue Plaza | New York, NY | Office | $180.0M | 2.837% | Nov 2031 | 3.70x | 100% | Current |
| 535-545 Fifth Avenue | New York, NY | Mixed use | $179.6M | 7.06% | Jan 2031 | n/a | n/a | Current |
| 15 West 47th Street | New York, NY | Office | $141.0M | 3.51% | Jan 2031 | n/a | n/a | Current |
| 2 Washington Street | New York, NY | Multifamily | $131.5M | 3.45% | Aug 2031 | n/a | n/a | With the special servicer and 90+ days delinquent |
| 535 & 545 5th Avenue | New York, NY | Mixed use | $129.7M | 7.06% | Jan 2031 | n/a | n/a | Current |
| 1 Willoughby Square | Brooklyn, NY | Office | $125.0M | 6.786% | Jan 2031 | 0.97x | 91% | Current |
| The Arches | Bronx, NY | Other | $120.0M | 5.436% | Feb 2031 | n/a | n/a | Current |
All loans maturing in 2031 · All New York-Newark-Jersey City loans
Source: each trust's ABS-EE asset-data exhibit (Regulation AB Schedule AL) on SEC EDGAR, reporting period ending September 11, 2026. Servicers report these figures; cmbs.news does not audit them. How this page is built.