Office · Newark, New Jersey
One Newark Center
Public CMBS trusts hold $59.7M of the loan on One Newark Center at 4.25% that reaches maturity on December 1, 2027, in 13 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $59,729,635
- Original balance (same notes)
- $66,580,000
- Interest rate
- 4.25% fixed
- Originated
- November 30, 2017
- Maturity
- December 1, 2027
- Payments
- Interest only for 36 months, then amortizing
- Prepayment lockout ends
- August 31, 2027
- Master servicer
- Trimont LLC
- Originator
- Morgan Stanley Bank, N.A.
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 1085-1109 Raymond Boulevard, 50-58 Rh Brown Street, Newark, NJ 07102
- Metro
- New York-Newark-Jersey City, NY-NJ
- Rentable area
- 417,939 sq ft
- Built
- 1992
- Largest tenants
- K&L Gates LLP; US Government; LITTLER MENDELSON
- Value at securitization
- $94.0M (Oct 2017)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 1.92x | 1.70x |
| Occupancy | 90% | 75% |
| Net operating income (annualized from 6 months) | $7.5M | $6.7M |
| Debt yield | 11.3% |
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 2018-BNK10 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 2026.
- Occupancy down 10 points 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 fallen from 90% when the loan was securitized to 75%.
- Net operating income is 11% below the underwritten figure ($6.7M a year against $7.5M; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 1.92x at securitization to 1.70x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $59.7M | Late payment but less than 30 days delinquent | No | 1.70x | 75% |
| August 2026 | $59.8M | Late payment but less than 30 days delinquent | No | 1.66x | 77% |
| July 2026 | $59.9M | Late payment but less than 30 days delinquent | No | 1.66x | 77% |
| June 2026 | $60.1M | Late payment but less than 30 days delinquent | No | 1.66x | 77% |
| May 2026 | $60.1M | Current | No | 1.66x | 77% |
| April 2026 | $60.3M | Late payment but less than 30 days delinquent | No | 1.76x | 76% |
| March 2026 | $29.0M | Current | No | 1.76x | 76% |
| February 2026 | $60.5M | Current | No | 1.76x | 76% |
| January 2026 | $60.6M | Current | No | 1.76x | 76% |
| December 2025 | $60.7M | Current | No | 1.76x | 76% |
| November 2025 | $60.8M | Current | No | 1.76x | 76% |
| October 2025 | $60.9M | Current | No | 1.76x | 76% |
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 3 notes held by different trusts. Each trust reports its own piece.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| CITIGROUP COMMERCIAL MORTGAGE TRUST 2018-B2 | 11 | $28,734,687 | Sep 2026 | SEC filing, September 25, 2026 |
| BANK 2018-BNK10 | 12 | $17,926,517 | Sep 2026 | SEC filing, September 29, 2026 |
| BANK 2018-BNK10 | 12A | $13,068,431 | Sep 2026 | SEC filing, September 29, 2026 |
Other New York-Newark-Jersey City loans due in 2027
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| General Motors Building | New York, NY | Mixed use | $726.3M | 3.43% | Jun 2027 | 2.58x | 99% | Current |
| 245 Park Avenue | New York, NY | Office | $700.0M | 3.669% | Jun 2027 | 2.08x | 97% | Current |
| Yorkshire Towers | New York, NY | Multifamily | $318.0M | 3.04% | Jun 2027 | n/a | n/a | Current |
| Olympic Tower | New York, NY | Mixed use | $280.0M | 3.954% | May 2027 | n/a | n/a | Current |
| 85 Broad Street | New York, NY | Office | $241.0M | 3.693% | Jun 2027 | 2.28x | 62% | With the special servicer |
| 225 & 233 Park Avenue South | New York, NY | Office | $235.0M | 3.651% | Jun 2027 | -0.14x | 29% | Current |
| Worldwide Plaza | New York, NY | Office | $235.0M | 3.605% | Nov 2027 | 1.49x | 62% | With the special servicer and 90+ days delinquent |
| 237 Park Avenue | New York, NY | Office | $215.4M | 3.752% | Aug 2027 | 3.71x | 89% | Current |
All loans maturing in 2027 · All New York-Newark-Jersey City loans
Source: each trust's ABS-EE asset-data exhibit (Regulation AB Schedule AL) on SEC EDGAR, reporting periods ending September 8, 2026, September 11, 2026. Servicers report these figures; cmbs.news does not audit them. How this page is built.