Mixed use · New York, New York
315 5th Avenue
315 5th Avenue is financed with a $25.0M CMBS loan at 6.55% that reaches maturity on January 6, 2033, in 6 years and 2 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $25,000,000
- Original balance (same notes)
- $25,000,000
- Interest rate
- 6.55% fixed
- Originated
- December 20, 2022
- Maturity
- January 6, 2033
- Payments
- Interest only for the full term
- Prepayment lockout ends
- October 5, 2032
- Master servicer
- Midland Loan Services
- Originator
- Bank of Montreal
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 315 5th Avenue, New York, NY 10016
- Metro
- New York-Newark-Jersey City, NY-NJ
- Rentable area
- 52,500 sq ft
- Built
- 1907, renovated 1995
- Largest tenants
- GILAR REALTY LLC; GOG1 1 INC. (Nubiani); GOGI INC. (Soju Haus)
- Value at securitization
- $48.8M (Oct 2022)
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | 1.45x | 0.80x |
| Occupancy | 88% | 96% |
| Net operating income (annualized from 3 months) | $2.4M | $1.3M |
| Debt yield | 5.4% |
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-C4 Mortgage Trust filing for the reporting period ending September 11, 2026, filed with the SEC October 2, 2026.
- 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 risen from 88% when the loan was securitized to 96%.
- Net operating income is 44% below the underwritten figure ($1.3M a year against $2.4M; the latest statement covers 3 months, annualized).
- Debt service coverage moved from 1.45x at securitization to 0.80x on the latest statements.
- At 0.80x, 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 | $25.0M | Current | No | 0.80x | 96% |
| August 2026 | $25.0M | Current | No | 0.80x | 96% |
| July 2026 | $25.0M | Current | No | 0.80x | 96% |
| June 2026 | $25.0M | Current | No | n/a | n/a |
| May 2026 | $25.0M | Current | No | n/a | n/a |
| April 2026 | $25.0M | Current | No | 1.12x | 99% |
| March 2026 | $25.0M | Current | No | 1.12x | 97% |
| February 2026 | $25.0M | Current | No | 1.12x | 97% |
| January 2026 | $25.0M | Current | No | 1.12x | 97% |
| December 2025 | $25.0M | Current | No | 1.12x | 97% |
| November 2025 | $25.0M | Current | No | 1.12x | 97% |
| October 2025 | $25.0M | Current | 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.
Where the loan sits
One trust holds this loan in the data.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| BMO 2023-C4 Mortgage Trust | 13 | $25,000,000 | Sep 2026 | SEC filing, October 2, 2026 |
Other New York-Newark-Jersey City loans due in 2033
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| 60 Hudson | New York, NY | Other | $280.0M | 5.885% | Oct 2033 | 3.69x | 64% | Current |
| 100 Jefferson Road | Parsippany, NJ | Industrial | $67.5M | 7.26% | Apr 2033 | 1.57x | 100% | Current |
| 2 Executive | Fort Lee, NJ | Mixed use | $54.5M | 6.219% | Apr 2033 | n/a | 93% | With the special servicer and 90+ days delinquent |
| Cross Island Plaza | Rosedale, NY | Office | $42.5M | 6.605% | May 2033 | n/a | n/a | With the special servicer |
| 2136/2138 Honeywell Avenue a/k/a 901/903 E 181st St | Bronx, NY | Multifamily | $36.0M | 7.25% | Dec 2033 | n/a | n/a | Current |
| 100 Jefferson | Parsippany, NJ | Industrial | $30.0M | 7.26% | Apr 2033 | n/a | n/a | Current |
| 500 Mamaroneck | Harrison, NY | Office | $29.5M | 6.83% | Apr 2033 | 0.74x | 100% | Current |
| 175 E 62nd Street | New York, NY | Multifamily | $25.0M | 2.295% | Sep 2033 | 5.22x | 100% | Current |
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.