National Cooperative Bank, N.A. - Special Servicer
With a focus on cooperative housing financing, NCB provides specialized servicing tailored to the unique needs of cooperative borrowers. We are tracking 47 CMBS deals from this servicer's portfolio.
Servicer Metrics
Key performance indicators and workout statistics for National Cooperative Bank, N.A..Workout Statistics
Modifications
0Foreclosures
0Bankruptcies
0Extensions
0Note Sales
0DPOs
0REOs
0Deed in Lieu
0Full Payoffs
0Current Status
Active Deals
0Resolved
0Returned
0Pending Return
0Most Recent Transfer
N/AMost Recent Return
N/ARecent Commentary
Special servicers provide regular updates on troubled loans through SEC filings, offering valuable insights into workout strategies and asset performance. Below are recent comments from National Cooperative Bank, N.A., highlighting their approach to managing distressed CMBS assets.💬 Servicer Commentary
2025-08-05
Yisroel Gluck
Prospectus ID: 2
Loan has recently transferred to SS, we are attempting to reach out to the borrower(s). The Loan transferred due to Monetary Default as a result of the Covid-19 pandemic. Borrower and Lender entered into a forbearance agreement effective 10/29/21. Special Servicer has sent a bring current statement to the Borrower to settle outstanding amoun ts. As of May 2025, Special Servicer has followed-up with Borrower's intentions with the upcoming maturity date in August 2025. Loan transferred on 5/29/2025 for related events of default. Special Servicer is reaching out to the Borrower. The Loan transferred to Special Servicing on 11/14/2024 for imminent monetary default related to the dark single tenant and upcoming 6/5/2025 maturity date. Loan continues to perform. Borrower has engaged a lender to refinance the Loan.
💬 Servicer Commentary
2025-07-31
1111 Studewood
Michael C. Davis
Prospectus ID: 54
Loan transferred SS for 60+days delinquent. Property is a 16,164sf retail condo located in the Heights district of Houston, TX. The property is 100% occupied with 1 suite available for sub-lease. Borrower has been minimally responsive to Lender and S ub-servicer and has not provided updated property financials. A Rent Roll has been submitted in concert with a Major Lease request for the T1 space. Counsel has been retained to send notices and work to obtain accurate financial information. PNL was signed by Borrower. Borrower has engaged 1st service solutions. Lender will continue working to cure the defaults with the Borrower while dual tracking foreclosure.
💬 Servicer Commentary
2025-07-31
Portfolio (65 Hotel properties)
SCG Hotel Investors Holdings L.P.
Prospectus ID: 2
Loan transferred to Special Servicing effective 2/24/25 due to imminent default. Hello Letter was noticed and PNA has been executed. Collateral consists of a 65 mixed service hotels, totaling 6,366 keys. Loan is paid through 6/1/2025. Servicer is act ively negotiating modification terms with Borrower. Appraisal has been received and is under review.
💬 Servicer Commentary
2025-07-31
214-224 West 29th Street
David I. Berley
Prospectus ID: 3
The Loan transferred to the Special Servicer on 9/10/2024 due to Delinquent Payments and cash flow shortfalls. The collateral consists of two adjacent and interconnected Class B multi-tenanted buildings located in New York, NY. The Property was built in 1925, includes 13,471 SF of retail space, and totals 200,454 SF. Per the YE'23 financials, the NOI/DSCR/Occ. at the Property was $3.4MM/1.04x/67.66%. The Property's largest Tenant, WeWork (51.2% NRA, 1/34 LXP), vacated upon the lease being rejected under tenant's Chapter 11 BK case. Notice of Default was sent to Borrower, and the Lender is proceeding with enforcement remedies, including foreclosure. The Lender is currently trapping all cash flow from the Property. The Special Servicer will gather additional information and simultaneously discuss workout strategies deemed appropriate to achieve the highest net present value recovery.
💬 Servicer Commentary
2025-07-30
Rodney C. Freeman
Prospectus ID: 28
REO Title Date: 10/4/2022. The Property is comprised of two parcels of land that is approx. 9.13 acres in size. The Property is designed and used for multi-tenant office and retail purposes. One Corporate Plaza consists of a 6-story office building and a two-level parking garage that were constructed in 1984. Two Corporate Plaza consists of an 8-story office building, one-story retail building and one 3-level parking garage that were constructed in 1989. The Property is located in the Clear Lakes market of Houston. Crossed with or Companion Loan: Pari Passu loan in WFCM 2016-C36. Deferred Maintenance: Most deferred maintenance issues have been addressed or are in the process of being completed, including fire panel replacement, partial roof replac ement and elevator modernization. All chillers have been replaced by the Receiver before the REO title date. Common areas updates are almost complete. Leasing Summary: Approx. six lease renewals have been completed with an aggregate of 28, 753 SF. T hree new leases with an aggregate of 22K SF have been completed. Marketing Summary: The property is currently not listed for sale.
💬 Servicer Commentary
2025-07-30
Rouse Properties LP
Prospectus ID: 7
The collateral property was previously a 329,398 SF enclosed mall constructed in 2006 and located in Jonesboro, AR. The mall collateral was largely destroyed by a tornado on 3/28/2020. The non-collateral anchors (Dillards/JCP/Target) received far les s damage and reopened in 2020. The majority of the mall collateral has been demolished after being condemned. The borrower has been cooperative in turning over information and access but is not willing to rebuild the property and carry the loan. A settlement was agreed under which the Trust took title to the property on 12/14/2022 and received substantial insurance proceeds. The special servicer completed the required site work per agreements with non-collateral anchors. Ultimate resoluti on via an REO sale is expected to occur in Q3 2025.
💬 Servicer Commentary
2025-07-29
Portfolio (65 Hotel properties)
SCG Hotel Investors Holdings L.P.
Prospectus ID: 4
Loan transferred to Special Servicing effective 2/24/25 due to imminent default. Hello Letter was noticed and PNA has been executed. Collateral consists of a 65 mixed service hotels, totaling 6,366 keys. Loan is paid through 6/1/2025. Servicer is actively negotiating modification terms with Borrower. Appraisal has been received and is under review.
💬 Servicer Commentary
2025-07-29
Regal Cinemas Lincolnshire
Scott D. Greenberg
Prospectus ID: 17
Loan transferred to Special Servicing on 3/22/2023 for imminent monetary default. Subject loan is secured by a 75,372 SF free-standing retail building located in Lincolnshire, IL with fee simple ownership interest but encumbered by a development agreement . Sole tenant, Regal Cinemas, filed bankruptcy in September 2022, and the lease was subsequently rejected through the bankruptcy proceedings. Tenant occupied and paid rent on the space through February 2023 before vacating. A receiver was appointed for th e property in August 2023. Foreclosure sale occurred on 2/18/2025, with the Trust being the successful bidder; formal deed transfer occurred in May 2025. Special Servicer is evaluating options
💬 Servicer Commentary
2025-05-30
Rite Aid - Newark Ny
Anilkumar Patel
Prospectus ID: 53
The Loan transferred on 1/3/2025 due to Delinquent Payments after Borrower failed to make the October Payment. Loan has a hard lockbox in place. Loan on WL for Borrower's failure to submit quarterly and annual reports (none received since origination in 2 019). Loan triggered cash management on 10/15/2023 when Rite Aid filed Chapter 11 bankruptcy. Rite Aid emerged from bankruptcy on 9/3/2024. Rite Aid is open and operating. Rite Aid rental payments are flowing into the DACA. Requested a copy of the original lease and lease amendment again from Borrower. Borrower has yet to provide a proposal to address the payment default and continues to be unresponsive. Counsel has delivered to Borrower an acceleration notice; pending reply from Borrower. Continuing to apply a portion of funds in the CMA towards full payments (P&I, reserves and escrows) as received, keeping two months delinquent. Dual-tracking foreclosure while awaiting a
💬 Servicer Commentary
2025-05-28
Trumbull Marriott
Thomas Point Ventures L.P.
Prospectus ID: 12
The loan initially transferred to Midland as Special Servicer on 5/20/20 for Imminent Default. Servicing rights transferred to LNR on 1/31/22. Borrower defaulted on payments and Loan remains past due. Lender has engaged counsel to commence enforcement of remedies. GF was appointed receiver in December 2021. Lender undertaking a Receivership sale, presently under an at-risk contract for purchase and sale, scheduled closing date of 4/23/2025.
* This list shows only a few of the most recent special servicing commentaries. We are continuously updating our coverage!
* Commentary dates (asof) represent when the special servicer made the comment.
* For full disclosures, please visit our disclosures page.
* Commentary dates (asof) represent when the special servicer made the comment.
* For full disclosures, please visit our disclosures page.
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CMBS Special Servicing Commentary
Special servicing commentary extracted from sec.gov Form 10-D filing servicer reports.
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