Retail · New York, New York
328 Bowery
328 Bowery is financed with a $5.0M CMBS loan at 5.05% that reaches maturity on February 6, 2029, in 2 years and 3 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is with the special servicer and 30-59 days delinquent.
The loan
- Balance in tracked trusts
- $5,000,000
- Original balance (same notes)
- $5,000,000
- Interest rate
- 5.05% fixed
- Originated
- January 28, 2019
- Maturity
- February 6, 2029
- Payments
- Interest only for the full term
- Prepayment lockout ends
- September 5, 2028
- Master servicer
- Midland
- Originator
- SMC
Status
- Payment status
- 30-59 days delinquent (code 1)
- Special servicing
- Transferred March 18, 2026
- Workout strategy
- Other
- Defeasance
- None reported
The property
- Address
- 328 Bowery, New York, NY 10012
- Metro
- New York-Newark-Jersey City, NY-NJ
- Rentable area
- 2,510 sq ft
- Built
- 2002
- Largest tenants
- Kenneth Cole Consumer Direct, LLC
- Value at securitization
- $9.1M (Nov 2018)
Performance
| At securitization | Latest | |
|---|---|---|
| DSCR (NOI) | 1.67x | n/a |
| Occupancy | 100% | n/a |
| Net operating income | $428K | n/a |
Watch flags
Computed from the Morgan Stanley Capital I Trust 2019-L2 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
On the cmbs.news watch list in every report since November 2025.
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 Jan 2026 as the lease end date for the largest tenant (Kenneth Cole Consumer Direct, LLC), 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 | $5.0M | 30-59 days delinquent | Yes | n/a | n/a |
| August 2026 | $5.0M | 60-89 days delinquent | Yes | n/a | n/a |
| July 2026 | $5.0M | 30-59 days delinquent | Yes | n/a | n/a |
| June 2026 | $5.0M | Late payment but less than 30 days delinquent | Yes | n/a | n/a |
| May 2026 | $5.0M | Current | Yes | n/a | n/a |
| April 2026 | $5.0M | 30-59 days delinquent | Yes | -0.45x | n/a |
| March 2026 | $5.0M | Late payment but less than 30 days delinquent | No | -0.45x | n/a |
| February 2026 | $5.0M | Current | No | -0.39x | n/a |
| January 2026 | $5.0M | Current | No | -0.04x | n/a |
| December 2025 | $5.0M | Current | No | -0.04x | n/a |
| November 2025 | $5.0M | Current | No | -0.04x | n/a |
| October 2025 | $5.0M | Current | No | n/a | n/a |
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 March 18, 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 |
|---|---|---|---|---|
| Morgan Stanley Capital I Trust 2019-L2 | 43 | $5,000,000 | Sep 2026 | SEC filing, October 2, 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.