Retail · New York, New York
685 Fifth Avenue Retail
Public CMBS trusts hold $160.0M of the loan on 685 Fifth Avenue Retail at 3.871% that reaches maturity on July 1, 2028, in 20 months. 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
- $160,000,000
- Original balance (same notes)
- $160,000,000
- Interest rate
- 3.871% fixed
- Originated
- June 29, 2018
- Maturity
- July 1, 2028
- Payments
- Interest only for the full term
- Prepayment lockout ends
- March 31, 2028
- Master servicer
- Trimont LLC
- Originator
- BANA
Status
- Payment status
- Current (code 0)
- Special servicing
- Transferred May 6, 2026
- Workout strategy
- TBD
- Defeasance
- None reported
The property
- Address
- 685 Fifth Avenue, Southeast Corner of East 54th Street, New York, NY 10022
- Metro
- New York-Newark-Jersey City, NY-NJ
- Rentable area
- 23,575 sq ft
- Built
- 1926, renovated 2016
- Largest tenants
- Coach; Stuart Weitzman Outlet; DJI HASSELBLAD
- Value at securitization
- $470.0M (Aug 2018)
Performance
| At securitization | Latest (Dec 2025) | |
|---|---|---|
| DSCR (NOI) | 2.82x | 3.13x |
| Occupancy | 100% | 100% |
| Net operating income | $17.7M | $19.7M |
| Debt yield | 12.3% |
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 2018-BNK15 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 2026.
- With the special servicer
- Largest tenant's lease ends within 12 months
On the cmbs.news watch list in every report since May 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 11% above the underwritten figure ($19.7M a year against $17.7M).
- Debt service coverage moved from 2.82x at securitization to 3.13x on the latest statements.
- The filing gives Apr 2027 as the lease end date for the largest tenant (Coach), 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 | $160.0M | Current | Yes | 3.13x | 100% |
| August 2026 | $160.0M | Current | Yes | 3.13x | 100% |
| July 2026 | $100.0M | Current | Yes | 3.13x | 100% |
| June 2026 | $60.0M | Current | Yes | 3.13x | 100% |
| May 2026 | $160.0M | Current | Yes | 3.13x | 100% |
| April 2026 | $160.0M | Current | No | 3.06x | 100% |
| March 2026 | $160.0M | Current | No | 3.06x | 100% |
| February 2026 | $160.0M | Current | No | 3.06x | 100% |
| January 2026 | $160.0M | Current | No | 3.06x | 100% |
| December 2025 | $160.0M | Current | No | 3.06x | 100% |
| November 2025 | $160.0M | Current | No | 3.01x | 100% |
| October 2025 | $160.0M | Current | No | 3.01x | 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 May 6, 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
The loan is split into 2 notes held by different trusts. Each trust reports its own piece.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| BANK 2018-BNK14 | 1 | $100,000,000 | Sep 2026 | SEC filing, October 1, 2026 |
| BANK 2018-BNK15 | 4 | $60,000,000 | Sep 2026 | SEC filing, September 29, 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 |
| 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 |
| 636 11th Avenue, New York (2028 maturity), loan 7 in Benchmark 2018-B4 Mortgage Trust | New York, NY | Office | $115.0M | 4.073% | Jun 2028 | 2.84x | 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 September 11, 2026. Servicers report these figures; cmbs.news does not audit them. How this page is built.