Multifamily · Jersey City, New Jersey
The Summit, Jersey City
The Summit is financed with a $37.0M CMBS loan at 5.247% that reaches maturity on October 1, 2029, in 2 years and 11 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $37,000,000
- Original balance (same notes)
- $37,000,000
- Interest rate
- 5.247% fixed
- Originated
- September 17, 2024
- Maturity
- October 1, 2029
- Payments
- Interest only for the full term
- Prepayment lockout ended
- November 1, 2025
- Prepayment premium ends
- March 31, 2029 (yield maintenance)
- Master servicer
- Midland Loan Services
- Originator
- Societe Generale Financial Corporation
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- Partly defeased
The property
- Address
- 136-144 Summit Avenue, Jersey City, NJ 7304
- Metro
- New York-Newark-Jersey City, NY-NJ
- Units, rooms or beds
- 102
- Built
- 2023
- Value at securitization
- $60.3M (Jul 2024)
Performance
| At securitization | Latest | |
|---|---|---|
| DSCR (NOI) | 1.80x | n/a |
| Occupancy | 97% | n/a |
| Net operating income | $3.5M | n/a |
Watch flags
Computed from the BMO 2024-5C7 Mortgage Trust filing for the reporting period ending September 11, 2026, filed with the SEC October 2, 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.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $37.0M | Current | No | n/a | n/a |
| August 2026 | $37.0M | Current | No | n/a | n/a |
| July 2026 | $37.0M | Current | No | n/a | n/a |
| June 2026 | $37.0M | Current | No | n/a | n/a |
| May 2026 | $37.0M | Current | No | n/a | n/a |
| April 2026 | $37.0M | Current | No | 1.79x | 99% |
| March 2026 | $37.0M | Current | No | 1.79x | 99% |
| February 2026 | $37.0M | Current | No | 1.79x | 99% |
| January 2026 | $37.0M | Current | No | 1.79x | 99% |
| December 2025 | $37.0M | Current | No | 1.51x | 99% |
| November 2025 | $37.0M | Current | No | 1.51x | 99% |
| October 2025 | $37.0M | 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 |
|---|---|---|---|---|
| BMO 2024-5C7 Mortgage Trust | 12 | $37,000,000 | Sep 2026 | SEC filing, October 2, 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.