Retail · Brooklyn, New York
Gateway Center North
Public CMBS trusts hold $300.0M of the loan on Gateway Center North at 6.827% 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
- $300,000,000
- Original balance (same notes)
- $300,000,000
- Interest rate
- 6.827% fixed
- Originated
- October 22, 2024
- Maturity
- November 6, 2029
- Payments
- Interest only for the full term
- Prepayment lockout ends
- November 5, 2026
- Prepayment premium ends
- May 5, 2029 (yield maintenance)
- Master servicer
- Wells Fargo
- Originator
- BANA
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 340 Gateway Drive, Brooklyn, NY 11217
- Metro
- New York-Newark-Jersey City, NY-NJ
- Rentable area
- 601,145 sq ft
- Built
- 2014
- Largest tenants
- JC Penney Properties, Inc.; ShopRite #289; Burlington Coat Factory #827
- Value at securitization
- $443.0M (Sep 2024)
Performance
| At securitization | Latest | |
|---|---|---|
| DSCR (NOI) | 1.23x | n/a |
| Occupancy | 96% | n/a |
| Net operating income | $25.5M | n/a |
Watch flags
Computed from the BANK5 2024-5YR12 filing for the reporting period ending September 11, 2026, filed with the SEC September 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.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $300.0M | Current | No | 1.28x | 100% |
| August 2026 | $300.0M | Current | No | 1.30x | 100% |
| July 2026 | $300.0M | Current | No | 1.30x | 100% |
| June 2026 | $300.0M | Current | No | 1.30x | 100% |
| May 2026 | $300.0M | Current | No | 1.13x | 100% |
| April 2026 | $300.0M | Late payment but less than 30 days delinquent | No | 1.13x | 100% |
| March 2026 | $300.0M | Payment not received but still in grace period or not yet due | No | 1.13x | 100% |
| February 2026 | $300.0M | Current | No | 1.12x | 100% |
| January 2026 | $300.0M | Current | No | 1.12x | 100% |
| December 2025 | $300.0M | Current | No | 1.12x | 100% |
| November 2025 | $300.0M | Current | No | 1.12x | 100% |
| October 2025 | $300.0M | Late payment but less than 30 days delinquent | No | 1.12x | 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.
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 |
|---|---|---|---|---|
| BANK5 2024-5YR11 | 2 | $77,000,000 | Sep 2026 | SEC filing, October 1, 2026 |
| Morgan Stanley Bank of America Merrill Lynch Trust 2025-5C1 | 5 | $59,500,000 | Sep 2026 | SEC filing, October 2, 2026 |
| BANK5 2025-5YR13 | 2 | $53,500,000 | Sep 2026 | SEC filing, September 28, 2026 |
| BANK5 2024-5YR12 | 4 | $50,000,000 | Sep 2026 | SEC filing, September 29, 2026 |
| BANK5 2025-5YR14 | 16 | $25,000,000 | Sep 2026 | SEC filing, September 29, 2026 |
| BANK5 2025-5YR13 | 2A | $20,000,000 | Sep 2026 | SEC filing, September 28, 2026 |
| BANK5 2024-5YR12 | 4A | $15,000,000 | Sep 2026 | SEC filing, September 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 | $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 |
| 640 5th Avenue | New York, NY | Mixed use | $288.6M | 6.129% | Jul 2029 | 2.35x | 90% | Current |
| Bay Plaza Community Center | Bronx, NY | Mixed use | $280.0M | 6.13% | Oct 2029 | 1.51x | 84% | 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.