Mixed use · New York, New York
Orfali Portfolio
Public CMBS trusts hold $30.0M of the loan on Orfali Portfolio at 3.47% that reaches maturity on December 6, 2029, in 3 years and 1 month. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $30,000,000
- Original balance (same notes)
- $30,000,000
- Interest rate
- 3.47% fixed
- Originated
- November 20, 2019
- Maturity
- December 6, 2029
- Payments
- Interest only for the full term
- Prepayment lockout ends
- June 5, 2029
- Master servicer
- Trimont LLC
- Originator
- UBS AG
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 345, 347, 349 East 60th Street and 1097, 1099, 1101, 1103 1st Avenue, New York, NY 10022
- Metro
- New York-Newark-Jersey City, NY-NJ
- Rentable area
- 115 sq ft
- Built
- 1910, renovated 2011
- Largest tenants
- JOHN & TONY PIZZA CORP; MINGS CLEAN & FRESH INC; PHAYA CUISINE INC
- Value at securitization
- $58.7M (Sep 2019)
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | 2.76x | 1.44x |
| Occupancy | 96% | 79% |
| Net operating income (annualized from 3 months) | $2.9M | $1.5M |
| Debt yield | 5.1% |
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 UBS Commercial Mortgage Trust 2019-C18 filing for the reporting period ending September 11, 2026, filed with the SEC September 28, 2026.
- Coverage down 0.25x or more from securitization
- Occupancy down 10 points or more from securitization
- NOI down 20% 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 96% when the loan was securitized to 79%.
- Net operating income is 48% below the underwritten figure ($1.5M a year against $2.9M; the latest statement covers 3 months, annualized).
- Debt service coverage moved from 2.76x at securitization to 1.44x on the latest statements.
- The filing gives Jun 2023 as the lease end date for the largest tenant (JOHN & TONY PIZZA CORP), before the loan matures. Lenders look hard at that rollover.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $30.0M | Current | No | 1.44x | 79% |
| August 2026 | $30.0M | Current | No | 1.44x | 79% |
| July 2026 | $30.0M | Current | No | 1.44x | 79% |
| June 2026 | $30.0M | Current | No | 2.08x | 79% |
| May 2026 | $30.0M | Current | No | 2.08x | 79% |
| April 2026 | $30.0M | Current | No | 2.08x | 79% |
| March 2026 | $30.0M | Current | No | 1.98x | 86% |
| February 2026 | $30.0M | Current | No | 1.98x | 86% |
| January 2026 | $30.0M | Current | No | 1.98x | 86% |
| December 2025 | $30.0M | Current | No | 1.61x | 90% |
| November 2025 | $30.0M | Current | No | 1.61x | 90% |
| October 2025 | $30.0M | Current | No | 1.61x | 90% |
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 2 notes held by different trusts. Each trust reports its own piece.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| UBS Commercial Mortgage Trust 2019-C18 | 7 | $20,000,000 | Sep 2026 | SEC filing, September 28, 2026 |
| UBS Commercial Mortgage Trust 2019-C18 | 7A | $10,000,000 | Sep 2026 | SEC filing, September 28, 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 |
| 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.