Multifamily · New York, New York
1442 Lexington Ave
1442 Lexington Ave is financed with a $11.6M CMBS loan at 5.69% that reached maturity on May 6, 2023, 41 months ago. As of the Sep 2026 servicer report, the latest filed for this loan, its status is past maturity and not performing.
The loan
- Balance in tracked trusts
- $11,600,000
- Original balance (same notes)
- $11,600,000
- Interest rate
- 5.69% fixed
- Originated
- April 12, 2018
- Maturity
- May 6, 2023
- Payments
- Interest only for the full term
- Prepayment lockout ended
- March 5, 2023
- Master servicer
- Trimont LLC
- Originator
- Ladder Capital Finance LLC
Status
- Payment status
- Non performing matured balloon. (code 5)
- Special servicing
- Transferred May 29, 2020
- Workout strategy
- REO
- Advancing
- The servicer has stopped advancing on this loan (non-recoverable)
- Defeasance
- None reported
The property
- Address
- 1442 Lexington Ave, New York, NY 10128
- Metro
- New York-Newark-Jersey City, NY-NJ
- Units, rooms or beds
- 16
- Built
- 1920, renovated 1986
- Value at securitization
- $18.0M (Feb 2018)
Performance
| At securitization | Latest (Dec 2025) | |
|---|---|---|
| DSCR (NOI) | 1.18x | 0.28x |
| Occupancy | 100% | 100% |
| Net operating income | $791K | $190K |
| Debt yield | 1.6% |
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 Wells Fargo Commercial Mortgage Trust 2018-C44 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 2026.
- With the special servicer
- 30+ days delinquent or matured unpaid
- Coverage below 1.00x
- Coverage down 0.25x or more from securitization
- NOI down 20% or more from securitization
- Past maturity
- Servicer stopped advancing
On the cmbs.news watch list in all 12 monthly reports we hold (October 2025 to September 2026).
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 76% below the underwritten figure ($190K a year against $791K).
- Debt service coverage moved from 1.18x at securitization to 0.28x on the latest statements.
- At 0.28x, the property's reported NOI does not cover its debt service.
- The most recent valuation in the filing is $8.9M (May 13, 2025), against $18.0M at securitization.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $11.6M | Non performing matured balloon | Yes | 0.28x | 100% |
| August 2026 | $11.6M | Non performing matured balloon | Yes | 0.28x | 100% |
| July 2026 | $11.6M | Non performing matured balloon | Yes | 0.28x | 100% |
| June 2026 | $11.6M | Non performing matured balloon | Yes | 0.28x | 100% |
| May 2026 | $11.6M | Non performing matured balloon | Yes | 0.17x | 94% |
| April 2026 | $11.6M | Non performing matured balloon | Yes | 0.17x | 94% |
| March 2026 | $11.6M | Non performing matured balloon | Yes | 0.17x | 94% |
| February 2026 | $11.6M | Non performing matured balloon | Yes | 0.17x | 94% |
| January 2026 | $11.6M | Non performing matured balloon | Yes | 0.17x | 94% |
| December 2025 | $11.6M | Non performing matured balloon | Yes | 0.17x | 94% |
| November 2025 | $11.6M | Non performing matured balloon | Yes | 0.17x | 94% |
| October 2025 | $11.6M | Non performing matured balloon | Yes | 0.23x | 82% |
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.
Special-servicing history
- Transferred to the special servicer May 29, 2020, still there.
Transfer and return dates as reported in the filings of the past year; an earlier episode shows here only if a filing in that year still reports it.
Where the loan sits
One trust holds this loan in the data.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| Wells Fargo Commercial Mortgage Trust 2018-C44 | 25 | $11,600,000 | Sep 2026 | SEC filing, September 29, 2026 |
Other New York-Newark-Jersey City loans due in 2023
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| 55 Prospect Street, Brooklyn (2023 maturity) | Brooklyn, NY | Office | $27.3M | 4.05% | Sep 2023 | n/a | n/a | With the special servicer |
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.