Mixed use · Brooklyn, New York
2857 West 8th Street
2857 West 8th Street is financed with a $14.3M CMBS loan at 4.80% that reaches maturity on April 6, 2028, in 17 months. 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
- $14,300,000
- Original balance (same notes)
- $14,300,000
- Interest rate
- 4.80% fixed
- Originated
- March 29, 2018
- Maturity
- April 6, 2028
- Payments
- Interest only for the full term
- Prepayment lockout ends
- January 5, 2028
- Master servicer
- Midland
- Originator
- Citi Real Estate Funding Inc.
Status
- Payment status
- Current (code 0)
- Special servicing
- Transferred December 23, 2025
- Workout strategy
- Foreclosure
- Defeasance
- None reported
The property
- Address
- 2857 West 8th Street, Brooklyn, NY 11224
- Metro
- New York-Newark-Jersey City, NY-NJ
- Rentable area
- 52,302 sq ft
- Built
- 1931, renovated 2016
- Largest tenants
- PureFitness; Dollar Tree - Brooklyn; New York University
- Value at securitization
- $24.5M (Feb 2018)
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | 1.74x | 0.34x |
| Occupancy | 100% | 59% |
| Net operating income (annualized from 3 months) | $1.2M | $243K |
| Debt yield | 1.7% |
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 COMM 2018-COR3 Mortgage Trust filing for the reporting period ending September 8, 2026, filed with the SEC September 25, 2026.
- With the special servicer
- Coverage below 1.00x
- Coverage down 0.25x or more from securitization
- Occupancy down 10 points 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
- Occupancy has fallen from 100% when the loan was securitized to 59%.
- Net operating income is 80% below the underwritten figure ($243K a year against $1.2M; the latest statement covers 3 months, annualized).
- Debt service coverage moved from 1.74x at securitization to 0.34x on the latest statements.
- At 0.34x, the property's reported NOI does not cover its debt service.
- The most recent valuation in the filing is $7.8M (February 19, 2026), against $24.5M at securitization.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $14.3M | Current | Yes | 0.34x | 59% |
| August 2026 | $14.3M | Current | Yes | 0.34x | 59% |
| July 2026 | $14.3M | Payment not received but still in grace period or not yet due | Yes | n/a | n/a |
| June 2026 | $14.3M | Current | Yes | n/a | n/a |
| May 2026 | $14.3M | Current | Yes | n/a | n/a |
| April 2026 | $14.3M | Current | Yes | 0.44x | 59% |
| March 2026 | $14.3M | Current | Yes | 0.44x | 59% |
| February 2026 | $14.3M | 60-89 days delinquent | Yes | 0.08x | 59% |
| January 2026 | $14.3M | 30-59 days delinquent | Yes | 0.08x | 59% |
| December 2025 | $14.3M | Late payment but less than 30 days delinquent | No | 0.08x | 59% |
| November 2025 | $14.3M | Current | No | 0.08x | 59% |
| October 2025 | $14.3M | Current | No | 0.50x | 59% |
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 December 23, 2025, 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 |
|---|---|---|---|---|
| COMM 2018-COR3 Mortgage Trust | 20 | $14,300,000 | Sep 2026 | SEC filing, September 25, 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 8, 2026. Servicers report these figures; cmbs.news does not audit them. How this page is built.