Retail · Brooklyn, New York
Ceasar's Bay Shopping Center
8973 Bay Parkway, Brooklyn, NY · Google Maps
Public CMBS trusts hold $87.5M of the loan on Ceasar's Bay Shopping Center at 3.015% that reaches maturity on October 6, 2029, in 2 years and 11 months. As of the Oct 2026 servicer report its status is not reported.
The loan
- Balance in tracked trusts
- $87,500,000
- Original balance (same notes)
- $87,500,000
- Interest rate
- 3.015%
- Originated
- October 4, 2019
- Maturity
- October 6, 2029
- Payments
- Amortizing
- Master servicer
- KeyBank Real Estate Capital
- Originator
- Barclays
Status
- Payment status
- Not reported
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 8973 Bay Parkway, Brooklyn, NY 11214
- Metro
- New York-Newark-Jersey City, NY-NJ
- Rentable area
- 301,300 sq ft
- Built
- 1957, renovated 2018
- Largest tenants
- Kohl's Department Stores Inc.; Target Corporation; BEST BUY STORES LP
- Value at securitization
- $170.0M (Jul 2019)
Performance
| Measure | At securitization | Latest (Jun 2026) |
|---|---|---|
| DSCR (NOI) | n/a | 4.69x |
| Occupancy | 98% | 100% |
| Net operating income (annualized from 6 months) | n/a | $12.6M |
| Debt yield | 14.4% |
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.
Comparable loans: retail properties in New York-Newark-Jersey City, NY-NJ, with NOI, occupancy and value.
Watch flags
Computed from the BBCMS Mortgage Trust 2019-C5 filing for the reporting period ending October 13, 2026, filed with the SEC October 29, 2026.
None this month. No flag in the cmbs.news screen applies to this loan.
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
- The filing gives May 2028 as the lease end date for the largest tenant (Kohl's Department Stores Inc.), before the loan matures. Lenders look hard at that rollover.
Who is behind this loan
- Sponsor
- Shown with Pro
- Principal/carveout guarantor
- Shown with Pro
- Parties and contacts named by the trust
- Shown with Pro
Source: SEC Form 424B2 prospectus, Annex A-1, filed Nov 2019.
Source: SEC Form 10-D, Exhibit 99.1 distribution statement, filed Oct 2026.
Refinance test on today's income
The latest annual NOI in the filing is $12.6M, a debt yield of 14.4% on $87.5M. Lenders often size a new loan so NOI is at least 9% to 10% of the loan amount.
| Debt yield a lender requires | Largest loan | Against today's balance |
|---|---|---|
| 9% | $140.2M | $52.7M of room |
| 10% | $126.1M | $38.6M of room |
Arithmetic on the filed NOI only: no rates, reserves, cap rates or lender terms. NOI can be a year old; see the statement dates above.
Operating statement
| Annual | At securitization | Latest, Jun 2026 | Per sq ft |
|---|---|---|---|
| Revenue | $15.6M | $20.7M | $68.78/sf |
| Operating expenses | $5.4M | $8.1M | $26.92/sf |
| Net operating income | $10.2M | $12.6M | $41.86/sf |
| Net cash flow | $9.6M | $12.1M | $40.06/sf |
| Expense ratio | 34.8% | 39.1% |
From the servicer's Schedule AL report; the latest statement covers 6 months and is annualized; 301,300 sq ft; renovated 2018.
Largest tenants
| Tenant | Sq ft | Share of building | Lease ends |
|---|---|---|---|
| Kohl's Deparment Stores Inc. | 119,734 | 40% | May 2028 |
| Target | 88,000 | 29% | Jan 2036 |
| Best Buy | 39,568 | 13% | Jan 2032 |
Red: the lease ends before the loan matures.
Refinance and early payoff, at today's rates
This estimate uses today's Treasury curve and needs JavaScript.
Rough estimates, not quotes. New loan: the filed NOI divided by the coverage you set, at the Treasury yield for the term plus your spread. Early payoff: the present value of the remaining scheduled payments to the open date at today's Treasury yields, less the balance, which is roughly what defeasance or yield maintenance costs. Loan documents, fees and the securities bought change the real number. Treasury yields: U.S. Treasury daily par curve.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| October 2026 | $87.5M | Current | No | 4.69x | 100% |
| September 2026 | $87.5M | Current | No | 4.69x | 100% |
| August 2026 | $87.5M | Current | No | 4.99x | 100% |
| July 2026 | $87.5M | Current | No | 4.69x | 99% |
| June 2026 | $87.5M | Current | No | 4.69x | 99% |
| May 2026 | $87.5M | Current | No | 4.69x | 99% |
| April 2026 | $87.5M | Current | No | 4.69x | 99% |
| March 2026 | $87.5M | Current | No | 4.46x | 99% |
| February 2026 | $87.5M | Current | No | 4.46x | 99% |
| January 2026 | $87.5M | Current | No | 4.46x | 99% |
| December 2025 | $87.5M | Current | No | 4.43x | 99% |
| November 2025 | $87.5M | Current | No | 4.43x | 99% |
From each trust's ABS-EE filing for that month. Coverage and occupancy change only when the servicer reports new statements.
Full history back to November 2019. See it with Pro.
Where the loan sits
The loan is split into 2 notes held by different trusts. Each trust reports its own piece.
| Trust | Asset no. in that trust | Balance | Report period | Source |
|---|---|---|---|---|
| Wells Fargo Commercial Mortgage Trust 2019-C53 | 2 | $45,500,000 | Oct 2026 | SEC filing, October 27, 2026 |
| BBCMS Mortgage Trust 2019-C5 | 3-A2 | $42,000,000 | Oct 2026 | SEC filing, October 29, 2026 |
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 | $850.0M | 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 | $525.0M | 5.37% | Nov 2029 | 1.94x | 93% | Current |
| 3 Columbus Circle | New York, NY | Office | $490.0M | 3.914% | Mar 2029 | 2.80x | 90% | Current |
| 30 Hudson Yards | New York, NY | Office | $422.0M | 3.11% | Jul 2029 | 2.29x | 100% | Current |
| 55 Hudson Yards | New York, NY | Office | $400.1M | 2.95% | Dec 2029 | 2.47x | 100% | Current |
| Gateway Center North | Brooklyn, NY | Retail | $300.0M | 6.827% | Nov 2029 | 1.28x | 100% | Current |
| 640 5th Avenue | New York, NY | Mixed use | $288.2M | 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 October 13, 2026. Servicers report these figures; cmbs.news does not audit them. How this page is built.