CMBS market overview


THE OFFICE SECTOR ONCE AGAIN DOMINATED THE LIST OF THE TOP CMBS loans issued in 2019. The largest was a $950 million loan issued to 1 Bryant Park. Bank of America led a $1.6 billion re- financing of 1 Bryant Park, also known as the Bank of America Building, in a single-asset, single-borrower CMBS transaction. The bank occupies 78 percent of the 2.4 million-square-foot office tower and owns a 49.99 percent stake in the building in partner- ship with the Durst Organization — although most of the ground underneath is owned by the Empire State Development Corpora- tion. The new financing consists of a $950 million CMBS loan and a $650 million Liberty Bonds loan.

TOP NEW YORK CITY REAL ESTATE DELIQUENCIES IN 2019

AmountPropertyTypeBoroughDeliquency Status
$73MThe Branson at FifthMixed-UseManhattanForeclosure
$37M115 MercerRetailManhattan60 Days Delinquent
$30M545 Madison AvenueOfficeManhattan90+ Days Delinquent
$23M494 BroadwayMixed-UseManhattan90+ Days Delinquent
$17M1006 Madison AvenueRetailManhattanForeclosure

CMBS ISSUED IN 2019 BY PROPERTY TYPE

CMBS ISSUED IN 2019 BY PROPERTY TYPE

Largest CMBS loans issued in 2019

AmountPropertyTypeBorough
$950M1 Bryant ParkOfficeManhattan
$730M1 SoHo SquareMixed-UseManhattan
$698M30 Hudson YardsOfficeManhattan
$625M300 Madison AvenueOfficeManhattan
$515MNew York Times BuildingOfficeManhattan
$510.5M55 Hudson YardsOfficeManhattan
$450MJackson ParkMultifamilyQueens
$386M70 Pine StreetMixed-useManhattan
$350M1407 BroadwayOfficeManhattan
$310M30 Hudson YardsOfficeManhattan

CMBS ISSUED IN 2019 BY BOROUGH

CMBS ISSUED IN 2019 BY BOROUGH

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