Mixed use · New York, New York
180 1st Avenue
180 1st Avenue is financed with a $7.1M CMBS loan at 6.78% that reaches maturity on November 1, 2029, in 3 years. As of the Sep 2026 servicer report, the latest filed for this loan, its status is with the special servicer and 90+ days delinquent.
The loan
- Balance in tracked trusts
- $7,100,000
- Original balance (same notes)
- $7,100,000
- Interest rate
- 6.78% fixed
- Originated
- October 22, 2024
- Maturity
- November 1, 2029
- Payments
- Interest only for the full term
- Prepayment lockout ends
- June 30, 2029
- Master servicer
- Wells Fargo Bank, NA
- Originator
- MSBNA
Status
- Payment status
- 90+ days delinquent (code 3)
- Special servicing
- Transferred June 30, 2026
- Workout strategy
- Foreclosure
- Defeasance
- None reported
The property
- Address
- 180 1st Avenue, New York, NY 10009
- Metro
- New York-Newark-Jersey City, NY-NJ
- Units, rooms or beds
- 14
- Built
- 1900, renovated 2022
- Value at securitization
- $10.9M (Aug 2024)
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | 1.35x | 0.54x |
| Occupancy | 100% | 94% |
| Net operating income (annualized from 3 months) | $657K | $271K |
| Debt yield | 3.8% |
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 BANK5 2024-5YR11 filing for the reporting period ending September 11, 2026, filed with the SEC October 1, 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
On the cmbs.news watch list in every report since July 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
- Occupancy has fallen from 100% when the loan was securitized to 94%.
- Net operating income is 59% below the underwritten figure ($271K a year against $657K; the latest statement covers 3 months, annualized).
- Debt service coverage moved from 1.35x at securitization to 0.54x on the latest statements.
- At 0.54x, 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 | $7.1M | 90+ days delinquent | Yes | 0.54x | 94% |
| August 2026 | $7.1M | 60-89 days delinquent | Yes | 0.54x | 94% |
| July 2026 | $7.1M | 30-59 days delinquent | Yes | 0.54x | 94% |
| June 2026 | $7.1M | Late payment but less than 30 days delinquent | No | 1.38x | 94% |
| May 2026 | $7.1M | Current | No | 1.38x | 94% |
| April 2026 | $7.1M | Late payment but less than 30 days delinquent | No | 1.38x | 94% |
| March 2026 | $7.1M | Late payment but less than 30 days delinquent | No | 1.39x | 94% |
| February 2026 | $7.1M | Late payment but less than 30 days delinquent | No | 1.39x | 94% |
| January 2026 | $7.1M | Current | No | 1.39x | 94% |
| December 2025 | $7.1M | Current | No | 1.48x | 100% |
| November 2025 | $7.1M | Current | No | 1.48x | 100% |
| October 2025 | $7.1M | Current | No | 1.48x | 100% |
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 June 30, 2026, 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 |
|---|---|---|---|---|
| BANK5 2024-5YR11 | 23 | $7,100,000 | Sep 2026 | SEC filing, October 1, 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.