← Benchmark 2020-B16 Mortgage Trust · Loan annex · CMBS market
- Deal
- Benchmark 2020-B16 Mortgage Trust
- Current balance
- $45.0M (September 2026)
- Share of deal
- 5.2%
- Status
- Matured balloon, performing
- DSCR (latest)
- 0.94
- Occupancy (latest)
- 61%
- Scheduled maturity
- 2029-12-08
Property and terms
| Property | 650 Madison Avenue |
| Address | 650 Madison Avenue; New York, NY 10022 |
| Property type | Mixed use |
| Units, beds or keys | not yet reported |
| Net rentable square feet | 600,415 |
| Year built | 1957 |
| Year last renovated | 2015 |
| Original balance | $45.0M |
| Current balance | $45.0M (September 2026) |
| Share of deal balance | 5.2% |
| Interest rate at origination | 3.49% |
| Current interest rate | 3.49% |
| Origination date | 11-26-2019 |
| Original term | 120 months |
| Amortization term | not yet reported |
| Interest-only period | 120 months |
| Scheduled maturity | 2029-12-08 |
| Prepayment lockout end | 06-07-2029 |
| Yield maintenance end | not yet reported |
| Servicer | KeyBank (MAD 2019-650M) |
| Loan servicer | not yet reported |
| Originator | Citi Real Estate Funding Inc. |
| Current status | Matured balloon, performing |
| Specially serviced now | No |
| Defeased | No |
Valuation
| Basis | Amount | Date | Source (as filed) |
|---|---|---|---|
| At securitization | $1.21B | 10-31-2019 | MAI |
| Most recent reported | $950.0M | 2025-10-01 | 98 |
Change from securitization to the most recent reported valuation: -21.5%.
Largest tenants
| Tenant | Square feet | Lease expiration |
|---|---|---|
| Ralph Lauren Corporation | 133,286 | 04-30-2036 |
| BC Partners Inc. | 44,504 | 08-17-2037 |
| willelt Advisors LLC | 38,598 | 02-28-2033 |
The three largest tenants as reported in the latest asset-level record.
Monthly history
| Month | Balance | Status | Rate | DSCR (NCF) | DSCR (NOI) | Occupancy | Advances | Financial period end | Revenue | Expenses | NOI | NCF |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| February 2020 | $45.0M | Current | 3.49% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| March 2020 | $45.0M | Current | 3.49% | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| April 2020 | $45.0M | Current | 3.49% | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| May 2020 | $45.0M | Current | 3.49% | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| June 2020 | $45.0M | Current | 3.49% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| July 2020 | $45.0M | Current | 3.49% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| August 2020 | $45.0M | Current | 3.49% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| September 2020 | $45.0M | Current | 3.49% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| October 2020 | $45.0M | Current | 3.49% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| November 2020 | $45.0M | Current | 3.49% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| December 2020 | $45.0M | Current | 3.49% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| January 2021 | $45.0M | Current | 3.49% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| February 2021 | $45.0M | Current | 3.49% | 2.07 | 2.15 | not yet reported | $0 | 06-30-2020 | $76.7M | $28.5M | $48.2M | $46.5M |
| March 2021 | $45.0M | Current | 3.49% | 2.07 | 2.15 | 98% | $0 | 06-30-2020 | $76.7M | $28.5M | $48.2M | $46.5M |
| April 2021 | $45.0M | Current | 3.49% | 2.21 | 2.29 | 96% | $0 | 09-30-2020 | $77.6M | $28.4M | $49.2M | $47.6M |
| May 2021 | $45.0M | Matured balloon, performing | 3.49% | not yet reported | not yet reported | not yet reported | $130,631 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| June 2021 | $45.0M | Current | 3.49% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| July 2021 | $45.0M | Current | 3.49% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| August 2021 | $45.0M | Current | 3.49% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| September 2021 | $45.0M | Current | 3.49% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| October 2021 | $45.0M | Current | 3.49% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| November 2021 | $45.0M | Current | 3.49% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| December 2021 | $45.0M | Current | 3.49% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| January 2022 | $45.0M | Current | 3.49% | 2.25 | 2.32 | not yet reported | $0 | 09-30-2021 | $79.0M | $27.0M | $52.0M | $50.4M |
| February 2022 | $45.0M | Current | 3.49% | 2.25 | 2.32 | not yet reported | $0 | 09-30-2021 | $79.0M | $27.0M | $52.0M | $50.4M |
| March 2022 | $45.0M | Current | 3.49% | 2.25 | 2.32 | not yet reported | $0 | 09-30-2021 | $79.0M | $27.0M | $52.0M | $50.4M |
| April 2022 | $45.0M | Current | 3.49% | 2.25 | 2.32 | not yet reported | $0 | 09-30-2021 | $79.0M | $27.0M | $52.0M | $50.4M |
| May 2022 | $45.0M | Current | 3.49% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| June 2022 | $45.0M | Current | 3.49% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| July 2022 | $45.0M | Current | 3.49% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| August 2022 | $45.0M | Current | 3.49% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| September 2022 | $45.0M | Current | 3.49% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| October 2022 | $45.0M | Current | 3.49% | 1.99 | 2.07 | 92% | $0 | 06-30-2022 | $77.4M | $31.5M | $45.9M | $44.3M |
| November 2022 | $45.0M | Current | 3.49% | 1.99 | 2.07 | 92% | $0 | 06-30-2022 | $77.4M | $31.5M | $45.9M | $44.3M |
| December 2022 | $45.0M | Current | 3.49% | 1.99 | 2.07 | 92% | $0 | 06-30-2022 | $77.4M | $31.5M | $45.9M | $44.3M |
| January 2023 | $45.0M | Current | 3.49% | 1.99 | 2.07 | 92% | $0 | 06-30-2022 | $77.4M | $31.5M | $45.9M | $44.3M |
| February 2023 | $45.0M | Current | 3.49% | 1.82 | 1.89 | 92% | $0 | 09-30-2022 | $73.8M | $31.4M | $42.4M | $40.7M |
| March 2023 | $45.0M | Matured balloon, non-performing | 3.49% | 1.82 | 1.89 | 92% | $121,922 | 09-30-2022 | $73.8M | $31.4M | $42.4M | $40.7M |
| April 2023 | $45.0M | Current | 3.49% | 1.71 | 1.78 | not yet reported | $0 | 12-31-2022 | $70.6M | $30.6M | $40.0M | $38.3M |
| May 2023 | $45.0M | Current | 3.49% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| June 2023 | $45.0M | Current | 3.49% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| July 2023 | $45.0M | Current | 3.49% | 1.77 | 1.85 | not yet reported | $0 | 03-31-2023 | $70.0M | $30.6M | $39.4M | $37.8M |
| August 2023 | $45.0M | Current | 3.49% | 1.77 | 1.85 | not yet reported | $0 | 03-31-2023 | $70.0M | $30.6M | $39.4M | $37.8M |
| September 2023 | $45.0M | Current | 3.49% | 1.73 | 1.81 | 79% | $0 | 06-30-2023 | $71.1M | $30.8M | $40.4M | $38.7M |
| October 2023 | $45.0M | Current | 3.49% | 1.73 | 1.81 | 86% | $0 | 06-30-2023 | $71.1M | $30.8M | $40.4M | $38.7M |
| November 2023 | $45.0M | Current | 3.49% | 1.73 | 1.81 | 86% | $0 | 06-30-2023 | $71.1M | $30.8M | $40.4M | $38.7M |
| December 2023 | $39.3M | Current | 4.38% | 1.19 | 1.19 | not yet reported | $0 | 09-30-2023 | $10.2M | $424,430 | $9.8M | $9.8M |
| January 2024 | $45.0M | Current | 3.49% | 1.73 | 1.81 | 79% | $0 | 09-30-2023 | $71.5M | $31.0M | $40.5M | $38.9M |
| February 2024 | $45.0M | Current | 3.49% | 1.73 | 1.81 | 79% | $0 | 09-30-2023 | $71.5M | $31.0M | $40.5M | $38.9M |
| March 2024 | $45.0M | Current | 3.49% | 1.73 | 1.81 | 79% | $0 | 09-30-2023 | $71.5M | $31.0M | $40.5M | $38.9M |
| April 2024 | $45.0M | Current | 3.49% | 1.74 | 1.81 | 79% | $0 | 12-31-2023 | $71.9M | $31.3M | $40.6M | $38.9M |
| May 2024 | $45.0M | Current | 3.49% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| June 2024 | $45.0M | Current | 3.49% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| July 2024 | $45.0M | Current | 3.49% | 1.71 | 1.79 | 53% | $0 | 03-31-2024 | $71.4M | $31.3M | $40.1M | $38.5M |
| August 2024 | $45.0M | Current | 3.49% | 1.71 | 1.79 | 53% | $0 | 03-31-2024 | $71.4M | $31.3M | $40.1M | $38.5M |
| September 2024 | $45.0M | Current | 3.49% | 1.71 | 1.79 | 53% | $0 | 03-31-2024 | $71.4M | $31.3M | $40.1M | $38.5M |
| October 2024 | $45.0M | Current | 3.49% | 1.71 | 1.79 | 53% | $0 | 03-31-2024 | $71.4M | $31.3M | $40.1M | $38.5M |
| November 2024 | $45.0M | Current | 3.49% | 1.71 | 1.79 | 53% | $0 | 03-31-2024 | $71.4M | $31.3M | $40.1M | $38.5M |
| December 2024 | $45.0M | Current | 3.49% | 1.71 | 1.79 | 53% | $0 | 03-31-2024 | $71.4M | $31.3M | $40.1M | $38.5M |
| January 2025 | $45.0M | Current | 3.49% | 1.71 | 1.79 | 53% | $0 | 03-31-2024 | $71.4M | $31.3M | $40.1M | $38.5M |
| February 2025 | $45.0M | Current | 3.49% | 1.71 | 1.79 | 53% | $0 | 03-31-2024 | $71.4M | $31.3M | $40.1M | $38.5M |
| March 2025 | $45.0M | Matured balloon, performing | 3.49% | 1.74 | 1.82 | 53% | $121,922 | 09-30-2024 | $72.4M | $31.5M | $40.9M | $39.2M |
| April 2025 | $45.0M | Current | 3.49% | 1.74 | 1.82 | 53% | $0 | 09-30-2024 | $72.4M | $31.5M | $40.9M | $39.2M |
| May 2025 | $45.0M | Current | 3.49% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| June 2025 | $45.0M | Current | 3.49% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| July 2025 | $45.0M | Current | 3.49% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| August 2025 | $45.0M | Matured balloon, performing | 3.49% | not yet reported | not yet reported | not yet reported | $134,986 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| September 2025 | $45.0M | 30-59 days delinquent | 3.49% | 1.03 | 1.10 | 74% | $269,971 | 06-30-2025 | $28.6M | $16.2M | $12.3M | $11.5M |
| October 2025 | $45.0M | 30-59 days delinquent | 3.49% | 1.03 | 1.10 | 74% | $265,617 | 06-30-2025 | $57.2M | $32.5M | $24.7M | $23.0M |
| November 2025 | $45.0M | Matured balloon, non-performing | 3.49% | 1.03 | 1.10 | 74% | $134,986 | 06-30-2025 | $57.2M | $32.5M | $24.7M | $23.0M |
| December 2025 | $45.0M | Matured balloon, performing | 3.49% | 1.03 | 1.10 | 74% | $130,631 | 06-30-2025 | $57.2M | $32.5M | $24.7M | $23.0M |
| January 2026 | $45.0M | Matured balloon, non-performing | 3.49% | 1.03 | 1.10 | 74% | $134,986 | 06-30-2025 | $57.2M | $32.5M | $24.7M | $23.0M |
| February 2026 | $45.0M | Matured balloon, performing | 3.49% | 1.03 | 1.10 | 74% | $134,986 | 06-30-2025 | $57.2M | $32.5M | $24.7M | $23.0M |
| March 2026 | $45.0M | Current | 3.49% | 1.13 | 1.22 | 74% | $0 | 09-30-2025 | $56.2M | $32.4M | $23.8M | $22.2M |
| April 2026 | $45.0M | Current | 3.49% | 1.13 | 1.22 | 74% | $0 | 09-30-2025 | $56.2M | $32.4M | $23.8M | $22.2M |
| May 2026 | $45.0M | Current | 3.49% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| June 2026 | $45.0M | Current | 3.49% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| July 2026 | $45.0M | Current | 3.49% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| August 2026 | $45.0M | Current | 3.49% | 0.94 | 1.01 | 61% | $0 | 03-31-2026 | $55.7M | $33.0M | $22.6M | $21.0M |
| September 2026 | $45.0M | Matured balloon, performing | 3.49% | 0.94 | 1.01 | 61% | $134,986 | 03-31-2026 | $55.7M | $33.0M | $22.6M | $21.0M |
Revenue, expenses, net operating income (NOI) and net cash flow (NCF) are the most recent financials reported as of each month, for the financial period ending on the date shown. DSCR is debt service coverage on the net cash flow and net operating income bases as reported.
Status timeline
| Date | Event |
|---|---|
| September 2025 | First reported 30 or more days delinquent |
| 2025-09-17 | Transferred to the special servicer |
| 2025-12-17 | Returned to the master servicer |
Also filed in other trusts
Loans are sometimes split across trusts (pari passu), and each trust files the loan at its whole-loan amount. A loan with the same property name and origination date is filed in: Barclays Commercial Mortgage Securities LLC (segment D01, CIK 1541480); BBCMS Mortgage Trust 2020-C6; BBCMS Mortgage Trust 2020-C7; Benchmark 2020-B17 Mortgage Trust; Benchmark 2020-IG1 Mortgage Trust; Citigroup Commercial Mortgage Trust 2019-C7; Citigroup Commercial Mortgage Trust 2020-GC46; GS Mortgage Securities Trust 2020-GC45; GS Mortgage Securities Trust 2020-GC47; Wells Fargo Commercial Mortgage Trust 2020-C55.
Sources: SEC Form ABS-EE asset-level reports for the deal. Definitions are in the methods note on the market page.