Office · New York, New York
450-460 Park Avenue South
Public CMBS trusts hold $75.0M of the loan on 450-460 Park Avenue South at 3.70% that reaches maturity on May 11, 2029, in 2 years and 6 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $75,000,000
- Original balance (same notes)
- $75,000,000
- Interest rate
- 3.70% fixed
- Originated
- May 1, 2019
- Maturity
- May 11, 2029
- Payments
- Interest only for the full term
- Prepayment lockout ends
- November 10, 2028
- Master servicer
- Trimont LLC
- Originator
- Wells Fargo Bank, National Association
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 450-460 Park Avenue South, New York, NY 10016
- Metro
- New York-Newark-Jersey City, NY-NJ
- Rentable area
- 182,845 sq ft
- Built
- 1912, renovated 2019
- Largest tenants
- 460 PARK ave South Tenant LLC; 89 Blocks holdings LLC; Private tech inc
- Value at securitization
- $205.0M (Mar 2019)
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | 3.12x | 1.47x |
| Occupancy | 95% | 77% |
| Net operating income (annualized from 3 months) | $8.8M | $4.1M |
| Debt yield | 5.5% |
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 BANK 2019-BNK19 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 2026.
- Coverage down 0.25x or more from securitization
- Occupancy down 10 points or more from securitization
- NOI down 20% or more from securitization
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 95% when the loan was securitized to 77%.
- Net operating income is 53% below the underwritten figure ($4.1M a year against $8.8M; the latest statement covers 3 months, annualized).
- Debt service coverage moved from 3.12x at securitization to 1.47x on the latest statements.
- The filing gives Dec 2028 as the lease end date for the largest tenant (460 PARK ave South Tenant 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 | $75.0M | Current | No | 1.47x | 77% |
| August 2026 | $75.0M | Current | No | 1.47x | 77% |
| July 2026 | $75.0M | Current | No | 1.47x | 77% |
| June 2026 | $75.0M | Current | No | 1.26x | 79% |
| May 2026 | $75.0M | Current | No | 1.26x | 79% |
| April 2026 | $75.0M | Current | No | 1.26x | 79% |
| March 2026 | $75.0M | Current | No | 1.26x | 79% |
| February 2026 | $75.0M | Current | No | 1.26x | 79% |
| January 2026 | $75.0M | Current | No | 1.33x | 79% |
| December 2025 | $75.0M | Current | No | 1.33x | 79% |
| November 2025 | $75.0M | Current | No | 1.33x | 79% |
| October 2025 | $75.0M | Current | No | 1.33x | 79% |
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
The loan is split into 2 notes held by different trusts. Each trust reports its own piece.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| Wells Fargo Commercial Mortgage Trust 2019-C51 | 3 | $45,000,000 | Sep 2026 | SEC filing, September 29, 2026 |
| BANK 2019-BNK19 | 15 | $30,000,000 | Sep 2026 | SEC filing, September 29, 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.