Other · Wheatley Heights, New York
175 Main Avenue Owners, Inc.
175 Main Avenue Owners, Inc. is financed with a $4.3M CMBS loan at 4.53% that reaches maturity on January 1, 2029, in 2 years and 2 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $4,309,333
- Original balance (same notes)
- $5,000,000
- Interest rate
- 4.53% fixed
- Originated
- December 20, 2018
- Maturity
- January 1, 2029
- Payments
- Amortizing over 30 years
- Prepayment premium ends
- January 1, 2029
- 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
- 175 Main Ave, Wheatley Heights, NY 11798
- Metro
- New York-Newark-Jersey City, NY-NJ
- Units, rooms or beds
- 79
- Built
- 1973, renovated 1994
- Value at securitization
- $13.8M (Oct 2018)
Performance
| At securitization | Latest (Jun 2018) | |
|---|---|---|
| DSCR (NOI) | 2.80x | 0.83x |
| Occupancy | 95% | 95% |
| Net operating income (annualized from 6 months) | $855K | $134K |
| Debt yield | 3.1% |
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 2019-BNK16 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 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 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 84% below the underwritten figure ($134K a year against $855K; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 2.80x at securitization to 0.83x on the latest statements.
- At 0.83x, 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 | $4.3M | Current | No | 0.83x | 95% |
| August 2026 | $4.3M | Current | No | 0.83x | 95% |
| July 2026 | $4.3M | Current | No | 0.83x | 95% |
| June 2026 | $4.3M | Current | No | 0.83x | 95% |
| May 2026 | $4.3M | Current | No | 0.83x | 95% |
| April 2026 | $4.4M | Current | No | 0.83x | 95% |
| March 2026 | $4.4M | Current | No | 0.83x | 95% |
| February 2026 | $4.4M | Current | No | 0.83x | 95% |
| January 2026 | $4.4M | Current | No | 0.83x | 95% |
| December 2025 | $4.4M | Current | No | 0.83x | 95% |
| November 2025 | $4.4M | Current | No | 0.83x | 95% |
| October 2025 | $4.4M | Current | No | 0.83x | 95% |
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 2019-BNK16 | 47 | $4,309,333 | Sep 2026 | SEC filing, September 29, 2026 |
Other New York-Newark-Jersey City loans due in 2029
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| 1633 Broadway | New York, NY | Office | $780.0M | 2.99% | Dec 2029 | 2.87x | 76% | Current |
| 650 Madison Avenue | New York, NY | Mixed use | $545.8M | 3.486% | Dec 2029 | 1.25x | 62% | Current |
| Queens Center | Elmhurst, NY | Retail | $510.0M | 5.37% | Nov 2029 | 1.94x | 93% | Current |
| 3 Columbus Circle | New York, NY | Mixed use | $490.0M | 3.914% | Mar 2029 | 2.80x | 90% | Current |
| 30 Hudson Yards | New York, NY | Office | $422.0M | 3.11% | Jul 2029 | n/a | n/a | Current |
| 55 Hudson Yards | New York, NY | Office | $371.7M | 2.95% | Dec 2029 | n/a | n/a | Current |
| Gateway Center North | Brooklyn, NY | Retail | $300.0M | 6.827% | Nov 2029 | n/a | n/a | Current |
| 640 5th Avenue | New York, NY | Mixed use | $288.6M | 6.129% | Jul 2029 | 2.35x | 90% | Current |
All loans maturing in 2029 · 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.