Mixed use · Ridgewood, New York
1815-1817 Putnam Avenue
1815-1817 Putnam Avenue is financed with a $5.7M CMBS loan at 7.33% that reaches maturity on September 6, 2028, in 22 months. 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
- $5,650,000
- Original balance (same notes)
- $5,650,000
- Interest rate
- 7.33%
- Originated
- August 30, 2023
- Maturity
- September 6, 2028
- Payments
- Interest only for the full term
- Master servicer
- KeyBank Real Estate Capital
- Originator
- LMF
Status
- Payment status
- 90+ days delinquent (code 3)
- Special servicing
- Transferred May 14, 2026
- Workout strategy
- Other
- Defeasance
- None reported
The property
- Address
- 1815-1817 Putnam Avenue, Ridgewood, NY 11385
- Metro
- New York-Newark-Jersey City, NY-NJ
- Rentable area
- 15 sq ft
- Built
- 1931, renovated 2015
- Value at securitization
- $7.6M (Aug 2023)
Performance
| At securitization | Latest (Dec 2024) | |
|---|---|---|
| DSCR (NOI) | n/a | 0.94x |
| Occupancy | 100% | 100% |
| Net operating income | n/a | $397K |
| Debt yield | 7.0% |
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 BMO 2023-5C2 Mortgage Trust filing for the reporting period ending September 11, 2026, filed with the SEC October 2, 2026.
- With the special servicer
- 30+ days delinquent or matured unpaid
- Coverage below 1.00x
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
- At 0.94x, 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 | $5.7M | 90+ days delinquent | Yes | 0.94x | 100% |
| August 2026 | $5.7M | 60-89 days delinquent | Yes | 0.94x | 100% |
| July 2026 | $5.7M | 30-59 days delinquent | Yes | 0.94x | 100% |
| June 2026 | $5.7M | Late payment but less than 30 days delinquent | Yes | 0.31x | 100% |
| May 2026 | $5.7M | Not reported | No | 0.31x | 100% |
| April 2026 | $5.7M | Not reported | No | 0.94x | 100% |
| March 2026 | $5.7M | Not reported | No | 0.94x | 100% |
| February 2026 | $5.7M | Not reported | No | 0.94x | 100% |
| January 2026 | $5.7M | Not reported | No | 0.94x | 100% |
| December 2025 | $5.7M | Not reported | No | 0.94x | 100% |
| November 2025 | $5.7M | Not reported | No | 0.94x | 100% |
| October 2025 | $5.7M | Late payment but less than 30 days delinquent | No | 0.94x | 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 May 14, 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 |
|---|---|---|---|---|
| BMO 2023-5C2 Mortgage Trust | 28 | $5,650,000 | Sep 2026 | SEC filing, October 2, 2026 |
Other New York-Newark-Jersey City loans due in 2028
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| One SoHo Square | New York, NY | Office | $469.0M | 2.725% | Aug 2028 | 1.78x | 85% | With the special servicer |
| 11 West 42nd Street | New York, NY | Office | $274.0M | 7.44% | Jul 2028 | 1.27x | 99% | Current |
| Harborside 2-3 | Jersey City, NJ | Office | $225.0M | 5.84% | Apr 2028 | 2.29x | 76% | Current |
| 3 Park Avenue | New York, NY | Office | $182.0M | 4.75% | Dec 2028 | 0.61x | 47% | Current |
| Gateway Center South | Brooklyn, NY | Retail | $162.5M | 6.873% | Jun 2028 | 1.69x | 98% | Current |
| 685 Fifth Avenue Retail | New York, NY | Retail | $160.0M | 3.871% | Jul 2028 | 3.13x | 100% | With the special servicer |
| 1745 Broadway | New York, NY | Office | $144.0M | 3.768% | Jun 2028 | 2.52x | 88% | Current |
| 65 Broadway, New York (2028 maturity), loan 4Sb in CF 2019-CF1 Mortgage Trust | New York, NY | Office | $136.0M | 4.935% | Dec 2028 | n/a | n/a | Current |
All loans maturing in 2028 · 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.