Multifamily · Bronx, New York
The Motto
Public CMBS trusts hold $96.0M of the loan on The Motto at 5.54% that reaches maturity on August 1, 2030, in 3 years and 9 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $96,000,000
- Original balance (same notes)
- $96,000,000
- Interest rate
- 5.54% fixed
- Originated
- July 29, 2025
- Maturity
- August 1, 2030
- Payments
- Interest only for the full term
- Prepayment lockout ends
- August 31, 2027
- Prepayment premium ends
- January 31, 2030 (yield maintenance)
- Master servicer
- Midland Loan Services
- Originator
- Morgan Stanley Bank, N.A.
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- Partly defeased
The property
- Address
- 2455-2457 Third Avenue, Bronx, NY 10451
- Metro
- New York-Newark-Jersey City, NY-NJ
- Units, rooms or beds
- 264
- Built
- 2023
- Value at securitization
- $155.0M (Mar 2025)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 1.35x | 0.93x |
| Occupancy | 97% | 93% |
| Net operating income (annualized from 6 months) | $7.3M | $5.1M |
| Debt yield | 5.3% |
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 BANK5 2025-5YR17 filing for the reporting period ending September 11, 2026, filed with the SEC September 28, 2026.
- Coverage below 1.00x
- Coverage down 0.25x or more from securitization
- NOI down 20% or more from securitization
On the cmbs.news watch list in every report since June 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 97% when the loan was securitized to 93%.
- Net operating income is 30% below the underwritten figure ($5.1M a year against $7.3M; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 1.35x at securitization to 0.93x on the latest statements.
- At 0.93x, the property's reported NOI does not cover its debt service.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $96.0M | Current | No | 0.93x | 93% |
| August 2026 | $106.0M | Current | No | 0.57x | 96% |
| July 2026 | $96.0M | Current | No | 0.57x | 96% |
| June 2026 | $96.0M | Current | No | 0.57x | 96% |
| May 2026 | $96.0M | Current | No | n/a | n/a |
| April 2026 | $96.0M | Current | No | n/a | n/a |
| March 2026 | $96.0M | Current | No | n/a | n/a |
| February 2026 | $96.0M | Current | No | n/a | n/a |
| January 2026 | $96.0M | Current | No | n/a | n/a |
| December 2025 | $96.0M | Current | No | n/a | n/a |
| November 2025 | $96.0M | Current | No | n/a | n/a |
| October 2025 | $96.0M | Current | No | 0.86x | 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
The loan is split into 4 notes held by different trusts. Each trust reports its own piece.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| BANK5 2025-5YR16 | 2 | $60,000,000 | Sep 2026 | SEC filing, September 29, 2026 |
| BANK5 2025-5YR17 | 10 | $16,000,000 | Sep 2026 | SEC filing, September 28, 2026 |
| BANK5 2025-5YR17 | 10A | $10,000,000 | Sep 2026 | SEC filing, September 28, 2026 |
| BANK5 2025-5YR17 | 10B | $10,000,000 | Sep 2026 | SEC filing, September 28, 2026 |
Other New York-Newark-Jersey City loans due in 2030
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| 711 Fifth Avenue | New York, NY | Mixed use | $545.0M | 3.16% | Mar 2030 | 2.71x | 66% | Current |
| Kings Plaza | Brooklyn, NY | Retail | $487.0M | 3.359% | Jan 2030 | 2.38x | 91% | Current |
| Grace Building | New York, NY | Office | $450.0M | 2.692% | Dec 2030 | n/a | n/a | Current |
| 545 Washington Boulevard | Jersey City, NJ | Office | $251.6M | 3.405% | Feb 2030 | 2.00x | 91% | Current |
| 605 Third Avenue | New York, NY | Office | $231.0M | 1.938% | Dec 2030 | 4.66x | 83% | Current |
| The Spiral | New York, NY | Office | $200.0M | 5.50% | Jan 2030 | n/a | n/a | Current |
| 250 West 57th Street | New York, NY | Office | $180.0M | 2.829% | Dec 2030 | 4.41x | 85% | Current |
| Mall at Bay Plaza | The Bronx, NY | Retail | $170.0M | 6.715% | Nov 2030 | n/a | n/a | Current |
All loans maturing in 2030 · 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.