← Benchmark 2025-V15 Mortgage Trust · Loan annex · CMBS market
- Deal
- Benchmark 2025-V15 Mortgage Trust
- Current balance
- $25.0M (September 2026)
- Share of deal
- 3.4%
- Status
- Current
- DSCR (latest)
- 1.24
- Occupancy (latest)
- 76%
- Scheduled maturity
- 2030-05-06
Property and terms
| Property | 655 THIRD AVENUE |
| Address | 655 THIRD AVENUE; New York, NY 10017 |
| Property type | Office |
| Units, beds or keys | not yet reported |
| Net rentable square feet | 421,851 |
| Year built | 1958 |
| Year last renovated | not yet reported |
| Original balance | $25.0M |
| Current balance | $25.0M (September 2026) |
| Share of deal balance | 3.4% |
| Interest rate at origination | 7.37% |
| Current interest rate | 7.37% |
| Origination date | 04-21-2025 |
| Original term | 60 months |
| Amortization term | not yet reported |
| Interest-only period | 60 months |
| Scheduled maturity | 2030-05-06 |
| Prepayment lockout end | not yet reported |
| Yield maintenance end | 11-05-2029 |
| Servicer | Trimont LLC |
| Loan servicer | not yet reported |
| Originator | Citi Real Estate Funding Inc. |
| Current status | Current |
| Specially serviced now | No |
| Defeased | No |
Valuation
| Basis | Amount | Date | Source (as filed) |
|---|---|---|---|
| At securitization | $130.0M | 04-01-2025 | MAI |
Largest tenants
| Tenant | Square feet | Lease expiration |
|---|---|---|
| The New York State Urban Development Corp | 122,577 | 10-31-2045 |
| Clune Construction Company L.P. | 23,437 | 06-30-2035 |
| Abacus Information Technology LLC | 20,075 | 07-31-2027 |
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| June 2025 | $25.0M | Current | 7.37% | 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 | $25.0M | Current | 7.37% | 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 | $25.0M | Current | 7.37% | 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 2025 | $25.0M | Current | 7.37% | 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 2025 | $25.0M | Current | 7.37% | 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 2025 | $25.0M | Current | 7.37% | 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 2025 | $25.0M | Current | 7.37% | 1.36 | 1.48 | 80% | $0 | 09-30-2025 | $16.3M | $10.5M | $5.8M | $5.3M |
| January 2026 | $25.0M | Current | 7.37% | 1.36 | 1.48 | 80% | $0 | 09-30-2025 | $16.3M | $10.5M | $5.8M | $5.3M |
| February 2026 | $25.0M | Current | 7.37% | 1.36 | 1.48 | 80% | $0 | 09-30-2025 | $16.3M | $10.5M | $5.8M | $5.3M |
| March 2026 | $25.0M | Current | 7.37% | 1.37 | 1.49 | 76% | $0 | 12-31-2025 | $21.8M | $14.0M | $7.8M | $7.2M |
| April 2026 | $25.0M | Current | 7.37% | 1.37 | 1.49 | 76% | $0 | 12-31-2025 | $21.8M | $14.0M | $7.8M | $7.2M |
| May 2026 | $25.0M | Current | 7.37% | 1.37 | 1.49 | 76% | $0 | 12-31-2025 | $21.8M | $14.0M | $7.8M | $7.2M |
| June 2026 | $25.0M | Current | 7.37% | 1.24 | 1.36 | 76% | $0 | 03-31-2026 | $5.4M | $3.6M | $1.8M | $1.6M |
| July 2026 | $25.0M | Current | 7.37% | 1.24 | 1.36 | 76% | $0 | 03-31-2026 | $5.4M | $3.6M | $1.8M | $1.6M |
| August 2026 | $25.0M | Current | 7.37% | 1.24 | 1.36 | 76% | $0 | 03-31-2026 | $5.4M | $3.6M | $1.8M | $1.6M |
| September 2026 | $25.0M | Current | 7.37% | 1.24 | 1.36 | 76% | $0 | 03-31-2026 | $5.4M | $3.6M | $1.8M | $1.6M |
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.
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: Wells Fargo Commercial Mortgage Trust 2025-5C4.
Sources: SEC Form ABS-EE asset-level reports for the deal. Definitions are in the methods note on the market page.