Other · New York, New York
20 Times Square, New York (2026 maturity), loan 1 in CSAIL 2018-CX12 Commercial Mortgage Trust
Public CMBS trusts hold $64.7M of the loan on 20 Times Square at 3.108% that reached maturity on May 5, 2026, 5 months ago. As of the Sep 2026 servicer report, the latest filed for this loan, its status is with the special servicer.
The loan
- Balance in tracked trusts
- $64,746,903
- Original balance (same notes)
- $75,000,000
- Interest rate
- 3.108% fixed
- Originated
- April 27, 2018
- Maturity
- May 5, 2026
- Payments
- Interest only for the full term
- Prepayment lockout ended
- September 4, 2020
- Master servicer
- Trimont LLC
- Originator
- Natixis Real Estate Capital LLC
Status
- Payment status
- Performing matured balloon (code 4)
- Special servicing
- Transferred April 24, 2026
- Workout strategy
- TBD
- Modified
- Yes, most recently September 28, 2023
- Defeasance
- None reported
The property
- Address
- 20 Times Square, New York, NY 10036
- Metro
- New York-Newark-Jersey City, NY-NJ
- Rentable area
- 16,066 sq ft
- Largest tenants
- THE HERSHEY COMPANY; Seventh Hotel Associates LLC
- Value at securitization
- $1.6B (Jan 2018)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 3.65x | 4.15x |
| Occupancy | n/a | n/a |
| Net operating income (annualized from 6 months) | $30.4M | $34.9M |
| Debt yield | 54.0% |
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 CSAIL 2018-C14 Commercial Mortgage Trust filing for the reporting period ending September 11, 2026, filed with the SEC September 28, 2026.
- With the special servicer
- Past maturity
- Modified
On the cmbs.news watch list in every report since May 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 15% above the underwritten figure ($34.9M a year against $30.4M; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 3.65x at securitization to 4.15x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $64.7M | Performing matured balloon | Yes | 4.15x | n/a |
| August 2026 | $64.7M | Performing matured balloon | Yes | 4.06x | 100% |
| July 2026 | $64.7M | Non performing matured balloon | Yes | 4.06x | 100% |
| June 2026 | $64.7M | Performing matured balloon | Yes | 4.06x | 100% |
| May 2026 | $64.7M | Non performing matured balloon | Yes | 4.06x | 100% |
| April 2026 | $64.7M | Current | No | 4.06x | 100% |
| March 2026 | $64.8M | Current | No | 4.06x | 100% |
| February 2026 | $64.9M | Current | No | 4.06x | 100% |
| January 2026 | $64.9M | Current | No | 4.06x | 100% |
| December 2025 | $65.0M | Current | No | 4.03x | 100% |
| November 2025 | $65.0M | Current | No | 4.03x | 100% |
| October 2025 | $65.1M | Current | No | 4.03x | 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 November 4, 2022, returned to the master servicer December 19, 2023.
- Transferred to the special servicer April 24, 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
The loan is split into 6 notes held by different trusts. Each trust reports its own piece.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| CSAIL 2018-CX12 Commercial Mortgage Trust | 1 | $13,812,680 | Sep 2026 | SEC filing, September 28, 2026 |
| CSAIL 2018-CX12 Commercial Mortgage Trust | 1A | $13,812,680 | Sep 2026 | SEC filing, September 28, 2026 |
| CSAIL 2018-CX12 Commercial Mortgage Trust | 1B | $13,812,680 | Sep 2026 | SEC filing, September 28, 2026 |
| CSAIL 2018-CX12 Commercial Mortgage Trust | 1C | $13,812,673 | Sep 2026 | SEC filing, September 28, 2026 |
| CSAIL 2018-C14 Commercial Mortgage Trust | 25 | $6,345,192 | Sep 2026 | SEC filing, September 28, 2026 |
| CSAIL 2018-C14 Commercial Mortgage Trust | 25A | $3,150,997 | Sep 2026 | SEC filing, September 28, 2026 |
Other New York-Newark-Jersey City loans due in 2026
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Novo Nordisk HQ | Plainsboro, NJ | Office | $210.7M | 2.838% | Nov 2026 | 4.18x | 78% | Current |
| 681 Fifth Avenue | New York, NY | Mixed use | $135.0M | 4.127% | Nov 2026 | 0.16x | 66% | With the special servicer and 90+ days delinquent |
| The Essex | New York, NY | Mixed use | $117.0M | 2.759% | Nov 2026 | n/a | n/a | Current |
| 8 Times Square & 1460 Broadway | New York, NY | Mixed use | $100.0M | 4.05% | Nov 2026 | 2.01x | 100% | With the special servicer |
| 85 Tenth Avenue | New York, NY | Mixed use | $100.0M | 3.821% | Dec 2026 | 1.91x | 89% | With the special servicer |
| 55 Prospect Street, Brooklyn (2026 maturity) | Brooklyn, NY | Office | $72.9M | 4.05% | Sep 2026 | n/a | n/a | With the special servicer |
| 101 Ludlow | New York, NY | Mixed use | $71.0M | 4.412% | Nov 2026 | 1.81x | 100% | Current |
| 20 Times Square, New York (2026 maturity), loan 1 in UBS Commercial Mortgage Trust 2018-C11 | New York, NY | Mixed use | $64.7M | 3.108% | May 2026 | n/a | n/a | With the special servicer |
All loans maturing in 2026 · 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.