Mixed use · Brooklyn, New York
534 Flatbush Ave-Brooklyn
534 Flatbush Ave-Brooklyn is financed with a $4.1M CMBS loan at 5.321% that reaches maturity on December 6, 2026, in 1 month. As of the Sep 2026 servicer report, the latest filed for this loan, its status is with the special servicer and 90+ days delinquent.
The loan
- Balance in tracked trusts
- $4,052,122
- Original balance (same notes)
- $4,620,000
- Interest rate
- 5.321% fixed
- Originated
- November 29, 2016
- Maturity
- December 6, 2026
- Payments
- Amortizing over 30 years
- Prepayment lockout ended
- January 5, 2019
- Prepayment premium ends
- September 5, 2026
- Master servicer
- Trimont LLC
- Originator
- Column Financial, Inc.
Status
- Payment status
- 90+ days delinquent (code 3)
- Special servicing
- Transferred October 18, 2021
- Workout strategy
- Foreclosure
- Advancing
- The servicer has stopped advancing on this loan (non-recoverable)
- Defeasance
- None reported
The property
- Address
- 534 Flatbush Avenue, Brooklyn, NY 11225
- Metro
- New York-Newark-Jersey City, NY-NJ
- Rentable area
- 11,700 sq ft
- Built
- 1931, renovated 2002
- Largest tenants
- Taqueria Maxicano Grill; Wholesome Foods; Residential
- Value at securitization
- $7.7M (Oct 2016)
Performance
| At securitization | Latest (Sep 2021) | |
|---|---|---|
| DSCR (NOI) | 1.38x | 0.95x |
| Occupancy | 100% | 100% |
| Net operating income (annualized from 9 months) | $427K | $294K |
| Debt yield | 7.2% |
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 CSMC 2016-NXSR Commercial Mortgage Trust filing for the reporting period ending September 11, 2026, filed with the SEC September 28, 2026.
- With the special servicer
- 30+ days delinquent or matured unpaid
- Coverage below 1.00x
- Coverage down 0.25x or more from securitization
- NOI down 20% or more from securitization
- Matures within 12 months
- Servicer stopped advancing
On the cmbs.news watch list in all 12 monthly reports we hold (October 2025 to September 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
- Net operating income is 31% below the underwritten figure ($294K a year against $427K; the latest statement covers 9 months, annualized).
- Debt service coverage moved from 1.38x at securitization to 0.95x on the latest statements.
- At 0.95x, the property's reported NOI does not cover its debt service.
- The most recent valuation in the filing is $4.1M (July 28, 2025), against $7.7M at securitization.
- The filing gives Dec 2019 as the lease end date for the largest tenant (Taqueria Maxicano Grill), 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 | $4.1M | 90+ days delinquent | Yes | 0.95x | 100% |
| August 2026 | $4.1M | 90+ days delinquent | Yes | 0.95x | 100% |
| July 2026 | $4.1M | 90+ days delinquent | Yes | 0.95x | 100% |
| June 2026 | $4.1M | 90+ days delinquent | Yes | 0.95x | 100% |
| May 2026 | $4.1M | 90+ days delinquent | Yes | 0.95x | 100% |
| April 2026 | $4.1M | 90+ days delinquent | Yes | 0.95x | 100% |
| March 2026 | $4.1M | 90+ days delinquent | Yes | 0.95x | 100% |
| February 2026 | $4.1M | 90+ days delinquent | Yes | 0.95x | 100% |
| January 2026 | $4.1M | 90+ days delinquent | Yes | 0.95x | 100% |
| December 2025 | $4.1M | 90+ days delinquent | Yes | 0.95x | 100% |
| November 2025 | $4.1M | 90+ days delinquent | Yes | 0.95x | 100% |
| October 2025 | $4.1M | 90+ days delinquent | Yes | 0.95x | 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.
Special-servicing history
- Transferred to the special servicer October 18, 2021, 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 |
|---|---|---|---|---|
| CSMC 2016-NXSR Commercial Mortgage Trust | 29 | $4,052,122 | Sep 2026 | SEC filing, September 28, 2026 |
Other New York-Newark-Jersey City loans due in 2026
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Novo Nordisk HQ | Plainsboro, NJ | Office | $210.7M | 2.838% | Nov 2026 | 4.18x | 78% | Current |
| 681 Fifth Avenue | New York, NY | Mixed use | $135.0M | 4.127% | Nov 2026 | 0.16x | 66% | With the special servicer and 90+ days delinquent |
| The Essex | New York, NY | Mixed use | $117.0M | 2.759% | Nov 2026 | n/a | n/a | Current |
| 8 Times Square & 1460 Broadway | New York, NY | Mixed use | $100.0M | 4.05% | Nov 2026 | 2.01x | 100% | With the special servicer |
| 85 Tenth Avenue | New York, NY | Mixed use | $100.0M | 3.821% | Dec 2026 | 1.91x | 89% | With the special servicer |
| 55 Prospect Street, Brooklyn (2026 maturity) | Brooklyn, NY | Office | $72.9M | 4.05% | Sep 2026 | n/a | n/a | With the special servicer |
| 101 Ludlow | New York, NY | Mixed use | $71.0M | 4.412% | Nov 2026 | 1.81x | 100% | Current |
| 20 Times Square, New York (2026 maturity), loan 1 in CSAIL 2018-CX12 Commercial Mortgage Trust | New York, NY | Other | $64.7M | 3.108% | May 2026 | 4.15x | n/a | With the special servicer |
All loans maturing in 2026 · 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.