Mixed use · Brooklyn, New York
The Riley - 880 Manhattan Avenue
The Riley - 880 Manhattan Avenue is financed with a $3.3M CMBS loan at 6.90% that reaches maturity on June 1, 2029, in 2 years and 7 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $3,250,000
- Original balance (same notes)
- $3,250,000
- Interest rate
- 6.90% fixed
- Originated
- May 2, 2024
- Maturity
- June 1, 2029
- Payments
- Interest only for the full term
- Prepayment lockout ended
- July 31, 2026
- Prepayment premium ends
- March 31, 2029 (yield maintenance)
- Master servicer
- KeyBank National Association
- Originator
- KeyBank National Association
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- Partly defeased
The property
- Address
- 880 Manhattan Avenue, Brooklyn, NY 11222
- Metro
- New York-Newark-Jersey City, NY-NJ
- Units, rooms or beds
- 3
- Built
- 1884, renovated 2023
- Largest tenants
- IVY PHYSICAL THERAPY
- Value at securitization
- $5.0M (Mar 2024)
Performance
| At securitization | Latest (Dec 2025) | |
|---|---|---|
| DSCR (NOI) | 1.21x | 0.91x |
| Occupancy | 100% | 75% |
| Net operating income | $276K | $206K |
| Debt yield | 6.3% |
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 BBCMS Mortgage Trust 2024-5C27 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 2026.
- Coverage below 1.00x
- Coverage down 0.25x or more from securitization
- Occupancy down 10 points or more from securitization
- NOI down 20% or more from securitization
On the cmbs.news watch list in every report since August 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 100% when the loan was securitized to 75%.
- Net operating income is 25% below the underwritten figure ($206K a year against $276K).
- Debt service coverage moved from 1.21x at securitization to 0.91x on the latest statements.
- At 0.91x, 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 | $3.3M | Current | No | 0.91x | 75% |
| August 2026 | $3.3M | Current | No | 0.91x | 75% |
| July 2026 | $3.3M | Current | No | n/a | n/a |
| June 2026 | $3.3M | 30-59 days delinquent | No | n/a | n/a |
| May 2026 | $3.3M | 30-59 days delinquent | No | n/a | n/a |
| April 2026 | $3.3M | Late payment but less than 30 days delinquent | No | n/a | n/a |
| March 2026 | $3.3M | Late payment but less than 30 days delinquent | No | n/a | n/a |
| February 2026 | $3.3M | Current | No | n/a | n/a |
| January 2026 | $3.3M | Current | No | n/a | n/a |
| December 2025 | $3.3M | Late payment but less than 30 days delinquent | No | n/a | n/a |
| November 2025 | $3.3M | Current | No | n/a | n/a |
| October 2025 | $3.3M | 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 |
|---|---|---|---|---|
| BBCMS Mortgage Trust 2024-5C27 | 50 | $3,250,000 | Sep 2026 | SEC filing, September 29, 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.