Office · New York, New York
One SoHo Square
Public CMBS trusts hold $469.0M of the loan on One SoHo Square at 2.725% that reaches maturity on August 6, 2028, in 21 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is with the special servicer.
The loan
- Balance in tracked trusts
- $469,000,000
- Original balance (same notes)
- $469,000,000
- Interest rate
- 2.725% fixed
- Originated
- July 9, 2021
- Maturity
- August 6, 2028
- Payments
- Amortizing
- Master servicer
- KeyBank Real Estate Capital
- Originator
- BMO
Status
- Payment status
- Not reported
- Special servicing
- Transferred August 28, 2026
- Workout strategy
- TBD
- Defeasance
- None reported
The property
- Address
- 161 Avenue of the Americas and 233 Spring Street, New York, NY 10013
- Metro
- New York-Newark-Jersey City, NY-NJ
- Rentable area
- 786,891 sq ft
- Built
- 1904, renovated 2016
- Largest tenants
- Flation health; Flatiron Health Inc.; Aetna Life Insurance Company
- Value at securitization
- $1.4B (Jun 2021)
Performance
| At securitization | Latest (Dec 2025) | |
|---|---|---|
| DSCR (NOI) | n/a | 1.78x |
| Occupancy | 93% | 85% |
| Net operating income | n/a | $49.6M |
| Debt yield | 10.6% |
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 Morgan Stanley Capital I Trust 2021-L7 filing for the reporting period ending September 11, 2026, filed with the SEC October 2, 2026.
- With the special servicer
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
- Occupancy has fallen from 93% when the loan was securitized to 85%.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $469.0M | Current | Yes | 1.78x | 86% |
| August 2026 | $469.0M | Current | No | 1.78x | 86% |
| July 2026 | $469.0M | Current | No | 1.78x | 86% |
| June 2026 | $469.0M | Current | No | 1.78x | 86% |
| May 2026 | $469.0M | Current | No | 1.98x | 82% |
| April 2026 | $469.0M | Late payment but less than 30 days delinquent | No | 1.98x | 82% |
| March 2026 | $469.0M | Current | No | 1.98x | 82% |
| February 2026 | $469.0M | Current | No | 1.98x | 82% |
| January 2026 | $469.0M | Current | No | 1.98x | 82% |
| December 2025 | $469.0M | Current | No | 1.98x | 82% |
| November 2025 | $469.0M | Current | No | 1.98x | 82% |
| October 2025 | $469.0M | Current | No | 1.93x | 88% |
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 9 notes held by different trusts. Each trust reports its own piece.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| Benchmark 2021-B28 Mortgage Trust | 1 | $135,000,000 | Sep 2026 | SEC filing, September 28, 2026 |
| Benchmark 2021-B29 Mortgage Trust | 1 | $112,000,000 | Sep 2026 | SEC filing, September 28, 2026 |
| BANK 2021-BNK37 | 4 | $75,000,000 | Sep 2026 | SEC filing, September 29, 2026 |
| BBCMS Mortgage Trust 2021-C11 | 1 | $50,000,000 | Sep 2026 | SEC filing, September 29, 2026 |
| 3650R 2021-PF1 Commercial Mortgage Trust | 15 | $25,176,796 | Sep 2026 | SEC filing, September 29, 2026 |
| Morgan Stanley Capital I Trust 2021-L7 | 2-A-3-C-1 | $24,000,000 | Sep 2026 | SEC filing, October 2, 2026 |
| BBCMS Mortgage Trust 2021-C11 | 1A | $20,000,000 | Sep 2026 | SEC filing, September 29, 2026 |
| Morgan Stanley Capital I Trust 2021-L7 | 2-A-3-C-2 | $16,000,000 | Sep 2026 | SEC filing, October 2, 2026 |
| Morgan Stanley Capital I Trust 2021-L7 | 2-A-3-C-3 | $11,823,204 | Sep 2026 | SEC filing, October 2, 2026 |
Other New York-Newark-Jersey City loans due in 2028
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| 11 West 42nd Street | New York, NY | Office | $274.0M | 7.44% | Jul 2028 | 1.27x | 99% | Current |
| Harborside 2-3 | Jersey City, NJ | Office | $225.0M | 5.84% | Apr 2028 | 2.29x | 76% | Current |
| 3 Park Avenue | New York, NY | Office | $182.0M | 4.75% | Dec 2028 | 0.61x | 47% | Current |
| Gateway Center South | Brooklyn, NY | Retail | $162.5M | 6.873% | Jun 2028 | 1.69x | 98% | Current |
| 685 Fifth Avenue Retail | New York, NY | Retail | $160.0M | 3.871% | Jul 2028 | 3.13x | 100% | With the special servicer |
| 1745 Broadway | New York, NY | Office | $144.0M | 3.768% | Jun 2028 | 2.52x | 88% | Current |
| 65 Broadway, New York (2028 maturity), loan 4Sb in CF 2019-CF1 Mortgage Trust | New York, NY | Office | $136.0M | 4.935% | Dec 2028 | n/a | n/a | Current |
| 636 11th Avenue, New York (2028 maturity), loan 7 in Benchmark 2018-B4 Mortgage Trust | New York, NY | Office | $115.0M | 4.073% | Jun 2028 | 2.84x | n/a | Current |
All loans maturing in 2028 · 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.