Other · New York, New York
Work of Art Loft Corp.
Work of Art Loft Corp. is financed with a $1.3M CMBS loan at 4.45% that reaches maturity on January 1, 2029, in 2 years and 2 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is with the special servicer.
The loan
- Balance in tracked trusts
- $1,290,162
- Original balance (same notes)
- $1,500,000
- Interest rate
- 4.45% fixed
- Originated
- December 13, 2018
- Maturity
- January 1, 2029
- Payments
- Amortizing over 30 years
- Prepayment premium ends
- January 1, 2029
- Master servicer
- NCB
- Originator
- NATIONAL COOPERATIVE BANK N.A.
Status
- Payment status
- Current (code 0)
- Special servicing
- Transferred February 4, 2026
- Defeasance
- None reported
The property
- Address
- 242 Lafayette St, New York, NY 10012
- Metro
- New York-Newark-Jersey City, NY-NJ
- Units, rooms or beds
- 10
- Built
- 1900, renovated 2003
- Value at securitization
- $27.2M (Nov 2018)
Performance
| At securitization | Latest | |
|---|---|---|
| DSCR (NOI) | 9.52x | n/a |
| Occupancy | 93% | n/a |
| Net operating income | $863K | n/a |
Watch flags
Computed from the BANK 2019-BNK16 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 2026.
- With the special servicer
On the cmbs.news watch list in every report since November 2025.
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 | $1.3M | Current | Yes | n/a | n/a |
| August 2026 | $1.3M | Current | Yes | n/a | n/a |
| July 2026 | $1.3M | Current | Yes | n/a | n/a |
| June 2026 | $1.3M | Current | Yes | n/a | n/a |
| May 2026 | $1.3M | Current | Yes | n/a | n/a |
| April 2026 | $1.3M | Current | Yes | n/a | n/a |
| March 2026 | $1.3M | 30-59 days delinquent | Yes | n/a | n/a |
| February 2026 | $1.3M | 60-89 days delinquent | Yes | n/a | n/a |
| January 2026 | $1.3M | 30-59 days delinquent | No | n/a | n/a |
| December 2025 | $1.3M | 60-89 days delinquent | No | n/a | n/a |
| November 2025 | $1.3M | 30-59 days delinquent | No | n/a | n/a |
| October 2025 | $1.3M | 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.
Special-servicing history
- Transferred to the special servicer February 4, 2026, still there.
Transfer and return dates as reported in the filings of the past year; an earlier episode shows here only if a filing in that year still reports it.
Where the loan sits
One trust holds this loan in the data.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| BANK 2019-BNK16 | 68 | $1,290,162 | 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.