Hotel · New York, New York
The Ludlow Hotel
The Ludlow Hotel is financed with a $46.0M CMBS loan at 5.874% that reaches maturity on February 1, 2035, in 8 years and 3 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $46,000,000
- Original balance (same notes)
- $46,000,000
- Interest rate
- 5.874% fixed
- Originated
- January 24, 2025
- Maturity
- February 1, 2035
- Payments
- Interest only for the full term
- Prepayment lockout ends
- March 31, 2027
- Prepayment premium ends
- July 31, 2034 (yield maintenance)
- Master servicer
- Midland Loan Services
- Originator
- Bank of America, National Association
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- Partly defeased
The property
- Address
- 180 Ludlow Street, New York, NY 10002
- Metro
- New York-Newark-Jersey City, NY-NJ
- Units, rooms or beds
- 175
- Built
- 2014
- Value at securitization
- $135.0M (Nov 2024)
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | 4.09x | 2.51x |
| Occupancy | 85% | 80% |
| Net operating income (annualized from 3 months) | $11.2M | $7.0M |
| Debt yield | 15.1% |
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 BANK 2025-BNK49 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 2026.
- Coverage down 0.25x 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 85% when the loan was securitized to 80%.
- Net operating income is 38% below the underwritten figure ($7.0M a year against $11.2M; the latest statement covers 3 months, annualized).
- Debt service coverage moved from 4.09x at securitization to 2.51x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $46.0M | Current | No | 2.51x | 80% |
| August 2026 | $46.0M | Current | No | 2.51x | 80% |
| July 2026 | $46.0M | Current | No | 2.51x | 80% |
| June 2026 | $46.0M | Current | No | n/a | n/a |
| May 2026 | $46.0M | Current | No | n/a | n/a |
| April 2026 | $46.0M | Current | No | n/a | n/a |
| March 2026 | $46.0M | Current | No | n/a | n/a |
| February 2026 | $46.0M | Current | No | n/a | n/a |
| January 2026 | $46.0M | Current | No | n/a | n/a |
| December 2025 | $46.0M | Current | No | n/a | n/a |
| November 2025 | $46.0M | Current | No | n/a | n/a |
| October 2025 | $46.0M | Current | 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 |
|---|---|---|---|---|
| BANK 2025-BNK49 | 7 | $46,000,000 | Sep 2026 | SEC filing, September 29, 2026 |
Other New York-Newark-Jersey City loans due in 2035
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| 32 Old Slip - Leased Fee | New York, NY | Other | $167.0M | 5.65% | May 2035 | 1.01x | 100% | Current |
| Rentar Plaza | Queens, NY | Mixed use | $160.0M | 5.581% | Jul 2035 | 2.21x | 99% | Current |
| 255 Greenwich | New York, NY | Office | $147.0M | 6.405% | Dec 2035 | n/a | n/a | Current |
| Uovo Qpn | New York, NY | Self storage | $143.0M | 6.485% | Feb 2035 | n/a | n/a | Current |
| 29-33 9th Ave (Soho House) | New York, NY | Mixed use | $135.0M | 6.44% | Feb 2035 | n/a | n/a | Current |
| 512 West 22nd Street | New York, NY | Office | $130.0M | 6.641% | Sep 2035 | 1.57x | 100% | Current |
| 525 7th Avenue | New York, NY | Office | $125.0M | 6.28% | Nov 2035 | n/a | n/a | Current |
| 4 Union Square South | New York, NY | Retail | $120.0M | 5.642% | Sep 2035 | 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.