Office portfolio, 2 properties · New York
74 Kent Street & 11-20 46th Road
This portfolio is financed with a $24.5M CMBS loan at 4.31% that reaches maturity on November 6, 2029, in 3 years. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $24,500,000
- Original balance (same notes)
- $30,500,000
- Interest rate
- 4.31% fixed
- Originated
- October 24, 2019
- Maturity
- November 6, 2029
- Payments
- Interest only for the full term
- Prepayment lockout ends
- August 5, 2029
- Master servicer
- Trimont LLC
- Originator
- Argentic Real Estate Finance LLC
Status
- Payment status
- Current (code 0)
- Special servicing
- Transferred December 21, 2023, returned March 6, 2025
- Workout strategy
- Resolved
- Modified
- Yes, most recently December 20, 2024
- Defeasance
- None reported
The property
- Value at securitization
- $49.0M
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 2.00x | 1.84x |
| Occupancy | 100% | 77% |
| Net operating income (annualized from 6 months) | $2.7M | $2.0M |
| Debt yield | 8.1% |
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 Wells Fargo Commercial Mortgage Trust 2019-C54 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 2026.
- Occupancy down 10 points or more from securitization
- NOI down 20% or more from securitization
- Modified
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 100% when the loan was securitized to 77%.
- Net operating income is 26% below the underwritten figure ($2.0M a year against $2.7M; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 2.00x at securitization to 1.84x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $24.5M | Current | No | 1.84x | 77% |
| August 2026 | $24.5M | Current | No | 1.90x | 77% |
| July 2026 | $24.5M | Current | No | 1.90x | 77% |
| June 2026 | $24.5M | Late payment but less than 30 days delinquent | No | 1.90x | 77% |
| May 2026 | $24.5M | Current | No | 1.34x | 77% |
| April 2026 | $24.5M | Current | No | 1.34x | 77% |
| March 2026 | $24.5M | Current | No | 1.41x | 76% |
| February 2026 | $24.5M | Current | No | 1.41x | 76% |
| January 2026 | $24.5M | Current | No | 1.41x | 76% |
| December 2025 | $24.5M | Current | No | 1.72x | 74% |
| November 2025 | $24.5M | Current | No | 1.72x | 74% |
| October 2025 | $24.5M | Current | No | 0.57x | 77% |
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 December 21, 2023, returned to the master servicer March 6, 2025.
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 |
|---|---|---|---|---|
| Wells Fargo Commercial Mortgage Trust 2019-C54 | 4 | $24,500,000 | Sep 2026 | SEC filing, September 29, 2026 |
Other New York 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 |
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.