Office · New York, New York
277 Park Avenue, New York (2029 maturity), loan 2A-6-1 in BBCMS Mortgage Trust 2024-5C29
Public CMBS trusts hold $70.0M of the loan on 277 Park Avenue at 7.01% that reaches its anticipated repayment date on August 6, 2029, in 2 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
- $70,000,000
- Original balance (same notes)
- $70,000,000
- Interest rate
- 7.01% fixed
- Originated
- August 6, 2024
- Maturity
- August 6, 2032
- Anticipated repayment date
- August 6, 2029 (the rate steps up if the loan is not repaid by then)
- Payments
- Amortizing
- Master servicer
- KeyBank Real Estate Capital
- Originator
- GACC
Status
- Payment status
- Not reported
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 277 Park Avenue, New York, NY 10017
- Metro
- New York-Newark-Jersey City, NY-NJ
- Rentable area
- 1,881,010 sq ft
- Built
- 1963, renovated 2023
- Largest tenants
- JPMorgan Chase; Sumitomo Trust & Banking Co; JPMorgan Chase
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | n/a | 1.81x |
| Occupancy | 98% | 95% |
| Net operating income | n/a | $96.5M |
| Debt yield | 137.9% |
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 BBCMS Mortgage Trust 2024-5C29 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 2026.
None this month. No flag in the cmbs.news screen applies to this loan.
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
- The filing gives Mar 2028 as the lease end date for the largest tenant (JPMorgan Chase), before the loan matures. Lenders look hard at that rollover.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $70.0M | Not reported | No | 1.81x | 95% |
| August 2026 | $70.0M | Not reported | No | 1.81x | 95% |
| July 2026 | $70.0M | Not reported | No | 1.85x | 98% |
| June 2026 | $70.0M | Not reported | No | 1.85x | 98% |
| May 2026 | $70.0M | Not reported | No | 1.85x | 98% |
| April 2026 | $70.0M | Not reported | No | 1.88x | 98% |
| March 2026 | $70.0M | Not reported | No | 1.88x | 98% |
| February 2026 | $70.0M | Not reported | No | 1.88x | 98% |
| January 2026 | $70.0M | Not reported | No | 1.88x | 98% |
| December 2025 | $70.0M | Not reported | No | 1.88x | 98% |
| November 2025 | $70.0M | Not reported | No | 1.88x | 98% |
| October 2025 | $70.0M | Not reported | No | 1.88x | 98% |
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
The loan is split into 3 notes held by different trusts. Each trust reports its own piece.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| BBCMS Mortgage Trust 2024-5C29 | 2A-6-1 | $40,000,000 | Sep 2026 | SEC filing, September 29, 2026 |
| BBCMS Mortgage Trust 2024-5C29 | 2A-5-1 | $25,000,000 | Sep 2026 | SEC filing, September 29, 2026 |
| BBCMS Mortgage Trust 2024-5C29 | 2A-4-2 | $5,000,000 | 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.