Other · Bronx, New York
1500 Boston Road Housing Development Fund Corporation
1500 Boston Road Housing Development Fund Corporation is financed with a $1.8M CMBS loan at 6.61% that reaches maturity on August 1, 2034, in 7 years and 9 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $1,783,428
- Original balance (same notes)
- $1,800,000
- Interest rate
- 6.61% fixed
- Originated
- July 23, 2024
- Maturity
- August 1, 2034
- Payments
- Amortizing over 40 years
- Prepayment premium ends
- August 1, 2034
- Master servicer
- NCB
- Originator
- NATIONAL COOPERATIVE BANK N.A.
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 1500 Boston Rd, Bronx, NY 10460
- Metro
- New York-Newark-Jersey City, NY-NJ
- Units, rooms or beds
- 38
- Built
- 1916
- Value at securitization
- $7.8M (May 2024)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 4.65x | 0.66x |
| Occupancy | 94% | 95% |
| Net operating income (annualized from 6 months) | $596K | $86K |
| Debt yield | 4.8% |
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 2024-BNK48 filing for the reporting period ending September 11, 2026, filed with the SEC October 1, 2026.
- Coverage below 1.00x
- Coverage down 0.25x or more from securitization
- NOI down 20% or more from securitization
On the cmbs.news watch list in every report since 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 86% below the underwritten figure ($86K a year against $596K; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 4.65x at securitization to 0.66x on the latest statements.
- At 0.66x, the property's reported NOI does not cover its debt service.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $1.8M | Current | No | 0.66x | 95% |
| August 2026 | $1.8M | Current | No | n/a | n/a |
| July 2026 | $1.8M | Current | No | n/a | n/a |
| June 2026 | $1.8M | Current | No | n/a | n/a |
| May 2026 | $1.8M | Current | No | n/a | n/a |
| April 2026 | $1.8M | Current | No | n/a | n/a |
| March 2026 | $1.8M | Current | No | n/a | n/a |
| February 2026 | $1.8M | Current | No | n/a | n/a |
| January 2026 | $1.8M | Current | No | n/a | n/a |
| December 2025 | $1.8M | Current | No | n/a | n/a |
| November 2025 | $1.8M | Current | No | n/a | n/a |
| October 2025 | $1.8M | Current | No | n/a | n/a |
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 2024-BNK48 | 36 | $1,783,428 | Sep 2026 | SEC filing, October 1, 2026 |
Other New York-Newark-Jersey City loans due in 2034
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Newport Centre | Jersey City, NJ | Retail | $108.0M | 5.437% | Sep 2034 | 2.75x | 95% | Current |
| 680 Madison | New York, NY | Retail | $80.0M | 6.702% | Jun 2034 | 1.74x | 97% | Current |
| Newport Centre Mall | Jersey City, NJ | Retail | $80.0M | 5.437% | Sep 2034 | 2.73x | 94% | Current |
| Mercer Square Owners Corp. | New York, NY | Other | $43.0M | 6.03% | Aug 2034 | n/a | n/a | Current |
| 680 Madison Avenue | New York, NY | Retail | $40.0M | 6.702% | Jun 2034 | 1.74x | 97% | Current |
| 330 West 38th Street | New York, NY | Office | $37.5M | 6.06% | Nov 2034 | n/a | n/a | Current |
| SoHo Grand & Tribeca Grand Hotel | New York, NY | Hotel | $33.5M | 5.54% | Sep 2034 | n/a | n/a | Current |
| 57 Willoughby | Brooklyn, NY | Office | $30.6M | 7.092% | Aug 2034 | 1.99x | 100% | Current |
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.