Mixed use · Bronx, New York
Poe Building
Poe Building is financed with a $12.0M CMBS loan at 5.854% that reaches maturity on March 6, 2036, in 9 years and 4 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $12,000,000
- Original balance (same notes)
- $12,000,000
- Interest rate
- 5.854% fixed
- Originated
- February 11, 2026
- Maturity
- March 6, 2036
- Payments
- Interest only for the full term
- Prepayment lockout ends
- November 5, 2035
- Master servicer
- Midland
- Originator
- German American Capital Corporation
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 2426-42 Grand Concourse, Bronx, NY 10458
- Metro
- New York-Newark-Jersey City, NY-NJ
- Rentable area
- 179,569 sq ft
- Built
- 1917, renovated 2019
- Largest tenants
- UCP Of NYC AKA ADAPT COMM. NETWORK; Poe Parking LLC; Fedcap Rehabi Services, Inc
- Value at securitization
- $49.6M (Nov 2025)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 4.57x | 6.12x |
| Occupancy | 85% | 91% |
| Net operating income (annualized from 6 months) | $3.3M | $8.8M |
| Debt yield | 73.2% |
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 Benchmark 2026-B42 Mortgage Trust filing for the reporting period ending September 11, 2026, filed with the SEC October 1, 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
- Occupancy has risen from 85% when the loan was securitized to 91%.
- Net operating income is 170% above the underwritten figure ($8.8M a year against $3.3M; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 4.57x at securitization to 6.12x on the latest statements.
- The filing gives Feb 2033 as the lease end date for the largest tenant (UCP Of NYC AKA ADAPT COMM. NETWORK), before the loan matures. Lenders look hard at that rollover.
The last 7 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $12.0M | Current | No | 6.12x | 91% |
| August 2026 | $12.0M | Current | No | n/a | n/a |
| July 2026 | $12.0M | Current | No | n/a | n/a |
| June 2026 | $12.0M | Current | No | n/a | n/a |
| May 2026 | $12.0M | Current | No | n/a | n/a |
| April 2026 | $12.0M | Current | No | n/a | n/a |
| March 2026 | $12.0M | Payment not received but still in grace period or not yet due | No | n/a | n/a |
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
One trust holds this loan in the data.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| Benchmark 2026-B42 Mortgage Trust | 19 | $12,000,000 | Sep 2026 | SEC filing, October 1, 2026 |
Other New York-Newark-Jersey City loans due in 2036
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| One Dag | New York, NY | Office | $134.9M | 6.761% | Jun 2036 | n/a | n/a | Late, less than 30 days |
| 1600 Broadway | New York, NY | Retail | $98.0M | 3.451% | May 2036 | 2.60x | 100% | Current |
| 50 West 23rd Street | New York, NY | Mixed use | $83.0M | 6.46% | Feb 2036 | n/a | n/a | Current |
| 215 Park Ave South | New York, NY | Office | $70.0M | 6.055% | Mar 2036 | n/a | n/a | Current |
| 10 Union Square East | New York, NY | Retail | $53.5M | 5.59% | Apr 2036 | n/a | n/a | Current |
| Downtown 33 | Monsey, NY | Office | $45.9M | 7.306% | May 2036 | n/a | n/a | Current |
| 360 East 72nd Street Co-Op | New York, NY | Multifamily | $42.0M | 5.134% | Apr 2036 | n/a | n/a | Current |
| 215 Park Avenue South | New York, NY | Office | $38.0M | 6.055% | Mar 2036 | n/a | n/a | Current |
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.