Office · New York, New York
79 Fifth Avenue
Public CMBS trusts hold $240.0M of the loan on 79 Fifth Avenue at 4.92% that reaches maturity on May 6, 2032, in 5 years and 6 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $240,000,000
- Original balance (same notes)
- $239,000,000
- Interest rate
- 4.92% fixed
- Originated
- April 29, 2022
- Maturity
- May 6, 2032
- Payments
- Interest only for the full term
- Prepayment lockout ends
- January 5, 2032
- Master servicer
- Midland
- Originator
- Citi Real Estate Funding Inc.
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 79 5th Avenue, New York, NY 10003
- Metro
- New York-Newark-Jersey City, NY-NJ
- Rentable area
- 345,751 sq ft
- Built
- 1906, renovated 2016
- Largest tenants
- The New School; CAPGEMINI AMERICA INC; CAPGEMINI AMERICA INC.
- Value at securitization
- $395.0M (Feb 2022)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 1.68x | 0.93x |
| Occupancy | 100% | 99% |
| Net operating income (annualized from 6 months) | $20.1M | $22.4M |
| Debt yield | 9.3% |
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 2022-BNK42 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 2026.
- Coverage below 1.00x
- Coverage down 0.25x or more from securitization
On the cmbs.news watch list in every report since 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 11% above the underwritten figure ($22.4M a year against $20.1M; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 1.68x at securitization to 0.93x on the latest statements.
- At 0.93x, the property's reported NOI does not cover its debt service.
- The filing gives Jun 2030 as the lease end date for the largest tenant (The New School), 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 | $240.0M | Current | No | 0.93x | 99% |
| August 2026 | $240.0M | Current | No | 1.42x | 99% |
| July 2026 | $240.0M | Current | No | 1.42x | 100% |
| June 2026 | $240.0M | Current | No | 0.98x | 88% |
| May 2026 | $240.0M | Current | No | 0.98x | 88% |
| April 2026 | $240.0M | Current | No | 0.98x | 88% |
| March 2026 | $240.0M | Current | No | 0.98x | 88% |
| February 2026 | $240.0M | Current | No | 0.98x | 88% |
| January 2026 | $240.0M | Current | No | 1.32x | 87% |
| December 2025 | $240.0M | Current | No | 1.57x | 87% |
| November 2025 | $240.0M | Current | No | 1.57x | 87% |
| October 2025 | $240.0M | Current | No | 1.57x | 87% |
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 7 notes held by different trusts. Each trust reports its own piece.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| Benchmark 2022-B36 Mortgage Trust | 1 | $71,000,000 | Sep 2026 | SEC filing, September 28, 2026 |
| BANK 2022-BNK42 | 3 | $70,000,000 | Sep 2026 | SEC filing, September 29, 2026 |
| Citigroup Commercial Mortgage Trust 2022-GC48 | 3 | $50,000,000 | Sep 2026 | SEC filing, September 28, 2026 |
| BMO 2022-C2 Mortgage Trust | 8 | $23,000,000 | Sep 2026 | SEC filing, October 2, 2026 |
| BANK 2022-BNK43 | 15 | $13,000,000 | Sep 2026 | SEC filing, September 29, 2026 |
| BANK 2022-BNK43 | 15A | $12,000,000 | Sep 2026 | SEC filing, September 29, 2026 |
| BANK 2022-BNK42 | 3A | $1,000,000 | Sep 2026 | SEC filing, September 29, 2026 |
Other New York-Newark-Jersey City loans due in 2032
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| 601 Lexington Avenue | New York, NY | Office | $573.3M | 2.792% | Jan 2032 | n/a | n/a | Current |
| Bell Works | Holmdel, NJ | Office | $210.0M | 5.11% | May 2032 | n/a | n/a | Current |
| 333 River Street | Hoboken, NJ | Multifamily | $125.0M | 2.315% | Jan 2032 | 7.49x | 98% | Current |
| 2 Riverfront Plaza | Newark, NJ | Office | $110.0M | 4.26% | Jan 2032 | 2.40x | 100% | Current |
| Rose Castle Apartments | Brooklyn, NY | Multifamily | $105.0M | 4.045% | Mar 2032 | 1.84x | 100% | Current |
| 330 West 34th Street Leased Fee | New York, NY | Mixed use | $100.0M | 4.55% | Sep 2032 | n/a | n/a | Current |
| 469 7th Avenue | New York, NY | Mixed use | $98.0M | 6.03% | Sep 2032 | 1.86x | 100% | Current |
| 39 Broadway | New York, NY | Office | $85.0M | 5.05% | Aug 2032 | 1.92x | 70% | 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.