Office portfolio, 4 properties · Brooklyn, New York
55 Prospect Street, Brooklyn (2023 maturity)
This portfolio is financed with a $27.3M CMBS loan at 4.05% that reached maturity on September 6, 2023, 37 months ago. As of the Sep 2026 servicer report, the latest filed for this loan, its status is with the special servicer.
The loan
- Balance in tracked trusts
- $27,322,423
- Original balance (same notes)
- $30,000,000
- Interest rate
- 4.05% fixed
- Originated
- August 30, 2018
- Maturity
- September 6, 2023
- Payments
- Interest only for the full term
- Prepayment lockout ended
- June 5, 2023
- Master servicer
- Midland Loan Services
- Originator
- Citi Real Estate Funding Inc.
Status
- Payment status
- Current (code 0)
- Special servicing
- Transferred February 10, 2026
- Workout strategy
- Other
- Modified
- Yes, most recently September 10, 2025
- Defeasance
- None reported
The property
- Address
- 55 Prospect Street, Brooklyn, NY 11201
- Metro
- New York-Newark-Jersey City, NY-NJ
- Value at securitization
- $640.0M
Performance
| At securitization | Latest | |
|---|---|---|
| DSCR (NOI) | n/a | n/a |
| Occupancy | n/a | n/a |
| Net operating income | $29.9M | $2.9M |
| Debt yield | 10.8% |
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 Benchmark 2018-B8 Mortgage Trust filing for the reporting period ending September 11, 2026, filed with the SEC September 28, 2026.
- With the special servicer
- NOI down 20% or more from securitization
- Past maturity
- Modified
On the cmbs.news watch list in every report since April 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 90% below the underwritten figure ($2.9M a year against $29.9M).
Properties securing the loan
| Property | Location | Type | Occupancy | DSCR |
|---|---|---|---|---|
| 55 Prospect Street | Brooklyn, NY | Office | 57% | 1.15x |
| 117 Adams Street | Brooklyn, NY | Office | n/a | n/a |
| 77 Sands Street | Brooklyn, NY | Office | n/a | n/a |
| 81 Prospect Street | Brooklyn, NY | Office | n/a | n/a |
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $27.3M | Current | Yes | 1.15x | 57% |
| August 2026 | $27.3M | Non performing matured balloon | Yes | n/a | n/a |
| July 2026 | $27.3M | Non performing matured balloon | Yes | n/a | n/a |
| June 2026 | $27.3M | Non performing matured balloon | Yes | n/a | n/a |
| May 2026 | $27.3M | Current | Yes | n/a | n/a |
| April 2026 | $27.3M | Non performing matured balloon | Yes | 2.73x | n/a |
| March 2026 | $27.3M | Current | No | 2.73x | n/a |
| February 2026 | $27.3M | Current | No | 3.17x | 44% |
| January 2026 | $27.3M | Non performing matured balloon | No | 3.17x | 44% |
| December 2025 | $27.3M | Current | No | 3.17x | 44% |
| November 2025 | $27.3M | Current | No | 2.95x | 45% |
| October 2025 | $27.3M | Current | No | 2.95x | 45% |
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 September 8, 2023, returned to the master servicer August 6, 2024.
- Transferred to the special servicer February 10, 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 |
|---|---|---|---|---|
| Benchmark 2018-B8 Mortgage Trust | 15 | $27,322,423 | Sep 2026 | SEC filing, September 28, 2026 |
Other New York-Newark-Jersey City loans due in 2023
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| 1442 Lexington Ave | New York, NY | Multifamily | $11.6M | 5.69% | May 2023 | 0.28x | 100% | Past maturity and not performing |
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.