Multifamily · Albany, New York
Washington Lofts
Washington Lofts is financed with a $5.2M CMBS loan at 6.80% that reaches maturity on April 6, 2029, in 2 years and 5 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $5,215,000
- Original balance (same notes)
- $5,215,000
- Interest rate
- 6.80% fixed
- Originated
- March 15, 2024
- Maturity
- April 6, 2029
- Payments
- Interest only for the full term
- Prepayment lockout ends
- January 5, 2029
- Master servicer
- Midland Loan Services
- Originator
- Starwood Mortgage Capital LLC
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 152 Washington Avenue, Albany, NY 12210
- Metro
- Albany-Schenectady-Troy, NY
- Units, rooms or beds
- 35
- Built
- 1882, renovated 2023
- Value at securitization
- $7.5M (Feb 2024)
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | 1.30x | 0.87x |
| Occupancy | 97% | 83% |
| Net operating income (annualized from 3 months) | $468K | $318K |
| Debt yield | 6.1% |
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 BMO 2024-5C4 Mortgage Trust filing for the reporting period ending September 11, 2026, filed with the SEC October 2, 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 September 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 83%.
- Net operating income is 32% below the underwritten figure ($318K a year against $468K; the latest statement covers 3 months, annualized).
- Debt service coverage moved from 1.30x at securitization to 0.87x on the latest statements.
- At 0.87x, 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 | $5.2M | Current | No | 0.87x | 83% |
| August 2026 | $5.2M | Current | No | n/a | n/a |
| July 2026 | $5.2M | Current | No | n/a | n/a |
| June 2026 | $5.2M | Current | No | n/a | n/a |
| May 2026 | $5.2M | Current | No | n/a | n/a |
| April 2026 | $5.2M | Current | No | 0.76x | 80% |
| March 2026 | $5.2M | Current | No | 0.76x | 80% |
| February 2026 | $5.2M | Current | No | 0.76x | 80% |
| January 2026 | $5.2M | Late payment but less than 30 days delinquent | No | 0.76x | 80% |
| December 2025 | $5.2M | Late payment but less than 30 days delinquent | No | n/a | n/a |
| November 2025 | $5.2M | Late payment but less than 30 days delinquent | No | n/a | n/a |
| October 2025 | $5.2M | Late payment but less than 30 days delinquent | 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 2024-5C4 Mortgage Trust | 35 | $5,215,000 | Sep 2026 | SEC filing, October 2, 2026 |
Other Albany-Schenectady-Troy loans due in 2029
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Glenmont Abbey Village | Glenmont, NY | Multifamily | $17.5M | 4.04% | Jul 2029 | 1.82x | 92% | Current |
| Extra Space - Ballston Spa | Ballston Spa, NY | Self storage | $11.5M | 4.60% | May 2029 | n/a | n/a | Current |
| Xtra Room Self Storage | Schenectady, NY | Self storage | $3.9M | 4.30% | Nov 2029 | 2.09x | 84% | Current |
All loans maturing in 2029 · All Albany-Schenectady-Troy 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.