Mixed use · New York, New York
575 Broadway
Public CMBS trusts hold $120.5M of the loan on 575 Broadway at 7.49% that reaches maturity on December 6, 2027, in 13 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $120,462,938
- Original balance (same notes)
- $127,400,000
- Interest rate
- 7.49% fixed
- Originated
- November 29, 2022
- Maturity
- December 6, 2027
- Payments
- Amortizing over 25 years
- Prepayment lockout ends
- July 5, 2027
- Master servicer
- Midland Loan Services
- Originator
- Citi Real Estate Funding Inc.
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 575 Broadway, New York, NY 10012
- Metro
- New York-Newark-Jersey City, NY-NJ
- Rentable area
- 176,148 sq ft
- Built
- 1882, renovated 2015
- Largest tenants
- Prada; Valor VAL Management LLC; H & M
- Value at securitization
- $215.0M (Sep 2022)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 1.42x | 1.15x |
| Occupancy | 88% | 48% |
| Net operating income (annualized from 6 months) | $16.0M | $26.3M |
| Debt yield | 21.8% |
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 BANK5 2023-5YR1 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
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 88% when the loan was securitized to 48%.
- Net operating income is 64% above the underwritten figure ($26.3M a year against $16.0M; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 1.42x at securitization to 1.15x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $120.5M | Current | No | 1.15x | 48% |
| August 2026 | $120.6M | Current | No | 1.15x | 48% |
| July 2026 | $120.8M | Current | No | 1.11x | 48% |
| June 2026 | $121.0M | Current | No | 1.11x | 48% |
| May 2026 | $121.1M | Current | No | 1.16x | 50% |
| April 2026 | $121.3M | Current | No | 1.16x | 48% |
| March 2026 | $121.5M | Current | No | 1.16x | 48% |
| February 2026 | $121.7M | Current | No | 1.25x | 50% |
| January 2026 | $121.9M | Current | No | 1.25x | 50% |
| December 2025 | $122.0M | Current | No | 1.51x | 50% |
| November 2025 | $122.2M | Current | No | 1.51x | 50% |
| October 2025 | $122.4M | Payment not received but still in grace period or not yet due | No | 1.51x | 50% |
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 5 notes held by different trusts. Each trust reports its own piece.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| FIVE 2023-V1 Mortgage Trust | 8 | $35,647,196 | Sep 2026 | SEC filing, September 25, 2026 |
| BBCMS Mortgage Trust 2023-C19 | 13 | $27,137,255 | Sep 2026 | SEC filing, September 29, 2026 |
| BMO 2023-C4 Mortgage Trust | 10 | $24,584,273 | Sep 2026 | SEC filing, October 2, 2026 |
| BANK5 2023-5YR1 | 14 | $18,910,979 | Sep 2026 | SEC filing, September 29, 2026 |
| BANK5 2023-5YR1 | 14A | $14,183,235 | Sep 2026 | SEC filing, September 29, 2026 |
Other New York-Newark-Jersey City loans due in 2027
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| General Motors Building | New York, NY | Mixed use | $726.3M | 3.43% | Jun 2027 | 2.58x | 99% | Current |
| 245 Park Avenue | New York, NY | Office | $700.0M | 3.669% | Jun 2027 | 2.08x | 97% | Current |
| Yorkshire Towers | New York, NY | Multifamily | $318.0M | 3.04% | Jun 2027 | n/a | n/a | Current |
| Olympic Tower | New York, NY | Mixed use | $280.0M | 3.954% | May 2027 | n/a | n/a | Current |
| 85 Broad Street | New York, NY | Office | $241.0M | 3.693% | Jun 2027 | 2.28x | 62% | With the special servicer |
| 225 & 233 Park Avenue South | New York, NY | Office | $235.0M | 3.651% | Jun 2027 | -0.14x | 29% | Current |
| Worldwide Plaza | New York, NY | Office | $235.0M | 3.605% | Nov 2027 | 1.49x | 62% | With the special servicer and 90+ days delinquent |
| 237 Park Avenue | New York, NY | Office | $215.4M | 3.752% | Aug 2027 | 3.71x | 89% | Current |
All loans maturing in 2027 · All New York-Newark-Jersey City loans
Source: each trust's ABS-EE asset-data exhibit (Regulation AB Schedule AL) on SEC EDGAR, reporting periods ending September 8, 2026, September 11, 2026. Servicers report these figures; cmbs.news does not audit them. How this page is built.