Mixed use · Brooklyn, New York
357 Flatbush
357 Flatbush is financed with a $10.5M CMBS loan at 4.723% that reaches maturity on January 6, 2028, in 14 months. As of the Oct 2026 servicer report its status is current.
The loan
- Balance in tracked trusts
- $10,500,000
- Original balance (same notes)
- $10,500,000
- Interest rate
- 4.723% fixed
- Originated
- December 21, 2017
- Maturity
- January 6, 2028
- Payments
- Interest only for the full term
- Prepayment lockout ends
- September 5, 2027
- Master servicer
- Trimont LLC
- Originator
- Goldman Sachs Mortgage Company
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 357-365 Flatbush Avenue, Brooklyn, NY 11238
- Metro
- New York-Newark-Jersey City, NY-NJ
- Rentable area
- 15,240 sq ft
- Built
- 1915
- Largest tenants
- Dunkin Donuts; True North Urgent Care; NORTHWELL HEALTH & GO-HEALTH
- Value at securitization
- $16.3M (Feb 2018)
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | 1.41x | 0.99x |
| Occupancy | 100% | 36% |
| Net operating income (annualized from 3 months) | $709K | $499K |
| Debt yield | 4.8% |
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 GS Mortgage Securities Trust 2018-GS9 filing for the reporting period ending October 6, 2026, filed with the SEC October 22, 2026.
- 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 (November 2025 to October 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 36%.
- Net operating income is 30% below the underwritten figure ($499K a year against $709K; the latest statement covers 3 months, annualized).
- Debt service coverage moved from 1.41x at securitization to 0.99x on the latest statements.
- At 0.99x, 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 |
|---|---|---|---|---|---|
| October 2026 | $10.5M | Current | No | 0.99x | 36% |
| September 2026 | $10.5M | Current | No | 0.99x | 36% |
| August 2026 | $10.5M | Current | No | 0.99x | 36% |
| July 2026 | $10.5M | Current | No | 0.99x | 36% |
| June 2026 | $10.5M | Current | No | 0.99x | 36% |
| May 2026 | $10.5M | Current | No | 0.99x | 36% |
| April 2026 | $10.5M | Current | No | 0.24x | 36% |
| March 2026 | $10.5M | Current | No | 0.24x | 36% |
| February 2026 | $10.5M | Current | No | 0.24x | 36% |
| January 2026 | $10.5M | Current | No | 0.23x | 36% |
| December 2025 | $10.5M | Late payment but less than 30 days delinquent | No | 0.23x | 36% |
| November 2025 | $10.5M | Late payment but less than 30 days delinquent | No | 0.23x | 36% |
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 |
|---|---|---|---|---|
| GS Mortgage Securities Trust 2018-GS9 | 21 | $10,500,000 | Oct 2026 | SEC filing, October 22, 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 October 6, 2026. Servicers report these figures; cmbs.news does not audit them. How this page is built.