Retail · Bronx, New York
Bronx Terminal Market
Public CMBS trusts hold $240.0M of the loan on Bronx Terminal Market at 5.181% that reaches maturity on August 6, 2029, in 2 years and 9 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)
- $240,000,000
- Interest rate
- 5.181% fixed
- Originated
- August 6, 2024
- Maturity
- August 6, 2029
- Payments
- Interest only for the full term
- Prepayment lockout ended
- August 5, 2026
- Prepayment premium ends
- May 5, 2029 (yield maintenance)
- Master servicer
- Wells Fargo
- Originator
- German American Capital Corporation; Starwood Mortgage Capital LLC
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 15 Major Deegan Expwy 590, 610 & 750 Gateway Center Blvd, Bronx, NY 10451
- Metro
- New York-Newark-Jersey City, NY-NJ
- Rentable area
- 918,779 sq ft
- Built
- 2009
- Largest tenants
- Target; BJ's Wholesale Club #176; Home Depot #6891
- Value at securitization
- $555.0M (Apr 2024)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 2.27x | 1.16x |
| Occupancy | 90% | 94% |
| Net operating income (annualized from 6 months) | $28.6M | $60.0M |
| Debt yield | 25.0% |
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 2024-5YR10 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 2026.
- Coverage down 0.25x 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 risen from 90% when the loan was securitized to 94%.
- Net operating income is 110% above the underwritten figure ($60.0M a year against $28.6M; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 2.27x at securitization to 1.16x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $240.0M | Current | No | 1.16x | 94% |
| August 2026 | $240.0M | Current | No | 1.12x | 94% |
| July 2026 | $240.0M | Current | No | 1.12x | 94% |
| June 2026 | $240.0M | Current | No | 1.12x | 94% |
| May 2026 | $240.0M | Current | No | 1.01x | 94% |
| April 2026 | $240.0M | Current | No | 1.02x | 94% |
| March 2026 | $240.0M | Late payment but less than 30 days delinquent | No | 1.02x | 94% |
| February 2026 | $240.0M | Current | No | 1.01x | 94% |
| January 2026 | $240.0M | Current | No | 1.01x | 94% |
| December 2025 | $240.0M | Current | No | 1.01x | 94% |
| November 2025 | $240.0M | Late payment but less than 30 days delinquent | No | 1.01x | 94% |
| October 2025 | $240.0M | Current | No | 1.01x | 94% |
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 15 notes held by different trusts. Each trust reports its own piece.
Other New York-Newark-Jersey City 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 |
All loans maturing in 2029 · 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.