Retail · New York, New York
340-350 West 57th Street
340-350 West 57th Street, New York, NY · Google Maps
340-350 West 57th Street is financed with a $12.5M CMBS loan at 6.99% that reaches maturity on November 6, 2036, in 10 years. As of the Nov 2026 servicer report its status is current.
The loan
- Balance in tracked trusts
- $12,500,000
- Original balance (same notes)
- $12,500,000
- Interest rate
- 6.99% fixed
- Originated
- October 16, 2026
- Maturity
- November 6, 2036
- Payments
- Interest only for the full term
- Prepayment lockout ends
- December 5, 2028
- Prepayment premium ends
- May 5, 2036 (yield maintenance)
- Master servicer
- Midland Loan Services
- Originator
- Citi Real Estate Funding Inc.
Status
- Payment status
- Payment not received but still in grace period or not yet due. (code A)
- Special servicing
- No transfer reported
- Defeasance
- Partly defeased
The property
- Address
- 340-350 West 57th Street, New York, NY 10019
- Metro
- New York-Newark-Jersey City, NY-NJ
- Rentable area
- 13,916 sq ft
- Built
- 1904, renovated 1983
- Largest tenants
- Parc West Valet Cleaners; Pure Retreat Beauty; PLM III LLC
- Value at securitization
- $24.5M (Jul 2026)
Performance
| Measure | At securitization | Latest |
|---|---|---|
| DSCR (NOI) | 1.36x | n/a |
| Occupancy | 100% | n/a |
| Net operating income | $1.2M | n/a |
Comparable loans: retail properties in New York-Newark-Jersey City, NY-NJ, with NOI, occupancy and value.
Watch flags
Computed from the Benchmark 2026-B44 Mortgage Trust filing for the reporting period ending November 12, 2026, filed with the SEC November 3, 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 Jun 2031 as the lease end date for the largest tenant (Parc West Valet Cleaners), before the loan matures. Lenders look hard at that rollover.
Operating statement
| Annual | At securitization | Latest | Per sq ft |
|---|---|---|---|
| Revenue | $2.1M | n/a | |
| Operating expenses | $937K | n/a | |
| Net operating income | $1.2M | n/a | |
| Net cash flow | $1.1M | n/a | |
| Expense ratio | 43.7% | n/a |
From the servicer's Schedule AL report; 13,916 sq ft; renovated 1983.
Largest tenants
| Tenant | Sq ft | Share of building | Lease ends |
|---|---|---|---|
| Parc West Valet Cleaners | 1,865 | 13% | Jun 2031 |
| Pure Retreat Beauty | 1,839 | 13% | Apr 2036 |
| PLM III LLC | 1,372 | 10% | Apr 2033 |
Red: the lease ends before the loan matures.
Refinance and early payoff, at today's rates
This estimate uses today's Treasury curve and needs JavaScript.
Rough estimates, not quotes. New loan: the filed NOI divided by the coverage you set, at the Treasury yield for the term plus your spread. Early payoff: the present value of the remaining scheduled payments to the open date at today's Treasury yields, less the balance, which is roughly what defeasance or yield maintenance costs. Loan documents, fees and the securities bought change the real number. Treasury yields: U.S. Treasury daily par curve.
Where the loan sits
One trust holds this loan in the data.
| Trust | Asset no. in that trust | Balance | Report period | Source |
|---|---|---|---|---|
| Benchmark 2026-B44 Mortgage Trust | 18 | $12,500,000 | Nov 2026 | SEC filing, November 3, 2026 |
Other New York-Newark-Jersey City loans due in 2036
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| One Dag | New York, NY | Office | $175.0M | 6.761% | Jun 2036 | 1.35x | 70% | Current |
| 215 Park Ave South | New York, NY | Office | $108.0M | 6.055% | Mar 2036 | n/a | n/a | Current |
| 1600 Broadway | New York, NY | Retail | $98.0M | 3.451% | May 2036 | 2.60x | 100% | Current |
| 50 West 23rd Street | New York, NY | Mixed use | $83.0M | 6.46% | Feb 2036 | 1.50x | 97% | Current |
| 10 Union Square East | New York, NY | Retail | $53.5M | 5.59% | Apr 2036 | 2.01x | 88% | Current |
| Downtown 33 | Monsey, NY | Office | $45.8M | 7.306% | May 2036 | n/a | n/a | Current |
| 360 East 72nd Street Co-Op | New York, NY | Multifamily | $42.0M | 5.134% | Apr 2036 | n/a | n/a | Current |
| The Ritz Tower | New York, NY | Other | $38.0M | 6.09% | Aug 2036 | n/a | n/a | Current |
Source: each trust's ABS-EE asset-data exhibit (Regulation AB Schedule AL) on SEC EDGAR, reporting period ending November 12, 2026. Servicers report these figures; cmbs.news does not audit them. How this page is built.