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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 50 CMBS deals from this servicer's portfolio.
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Recent Deals

WFCM 2024-C63

CMBS
2024-08-12

WFCM 2017-RC1

CMBS
2017-02-22

WFRBS 2014-C21

CMBS

WFRBS 2014-C19

CMBS

WFRBS 2013-C16

CMBS

WFRBS 2013-C15

CMBS

Servicer Metrics

Key performance indicators and workout statistics for National Cooperative Bank, N.A..

Workout Statistics

Modifications
0
Foreclosures
0
Bankruptcies
0
Extensions
0
Note Sales
0
DPOs
0
REOs
0
Deed in Lieu
0
Full Payoffs
0

Current Status

Active Deals
0
Resolved
0
Returned
0
Pending Return
0
Most Recent Transfer
N/A
Most Recent Return
N/A

Recent 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

2026-06-29
249 Legion Avenue
Richard Urso
The asset transferred to Special Servicing effective 9/4/2025 due to payment default. The loan is secured by a 24,578-sf retail property located in New Haven, CT. The improvements include a 14,578-sf free-standing former Rite Aid space that has since vacated, and a 10,000-sf free-standing building leased to The Learning Experience. As of 9/30/2025, the property was 40.7% occupied. Receiver was appointed effective March 9th. Looking to move forward with selling the note.
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💬 Servicer Commentary

2026-06-29
Us Bank Centre
The Wolstein Group
The Loan transferred to Special Servicing on 6/21/2024 for imminent monetary default. The Special Servicer and the Borrower executed a Pre-Negotiation Agreement. Receiver appointed March 2025. As of 12/31/25 the property was 63%
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💬 Servicer Commentary

2026-06-29
Rahim Lakhoo
Loan transferred as a SS on 8/29/2024 for imminent default. Collateral is the 160-key Holiday Inn Milwaukee River, Milwaukee WI. Lender and Master Servicer received an 8/19/2024 notice from Borrower's Third-Party Advisor of Borrower's request for an orderly transfer of the Hotel to Lender due to Borrower's unwillingness to fund operating cash shortfalls. Trust and Local Counsel have been retained. Notice of Default sent to Borrower. Receiver is in place. Receiver-led sale
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💬 Servicer Commentary

2026-06-29
Brian Adams
The Loan was transferred to the Special Servicer on 5/29/2026 due to Imminent Default.
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💬 Servicer Commentary

2026-06-29
American Realty Capital New York City REIT, Inc
Loan transferred for Imminent Default on 3/24/25. Collateral consists of a first-lien leasehold interest in a 247,183 SF, Class A, 21-story office building built in 19216 and located in Midtown Manhattan in NYC. As of 5/30/26, the Property was 74% occupied with NOI/DSCR: -$3.75MM/-0.90x. A Receiver has been appointed and foreclosure compliant has been filed. Receiver has engaged C&W as leasing agent and they are working to lease up the building. The Receiver has also sent a proposal to the Gr ou nd Lessor to extend the ground lease. No response from the Ground Lessor at this time.
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💬 Servicer Commentary

2026-06-29
Loan transferred for Imminent Default on 3/24/25. Collateral consists of a first-lien leasehold interest in a 247,183 SF, Class A, 21-story office building built in 19216 and located in Midtown Manhattan in NYC. As of 5/30/26, the Property was 74% occupied with NOI/DSCR: -$3.75MM/-0.90x. A Receiver has been appointed and foreclosure compliant has been filed. Receiver has engaged C&W as leasing agent and they are working to lease up the building. The Receiver has also sent a proposal to the Gr ou nd Lessor to extend the ground lease. No response from the Ground Lessor at this time.
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💬 Servicer Commentary

2026-05-28
Work Of Art Loft Corp.
0
Subject loan transferred to Special Servicing during 1Q2026 for monetary default. At that time subject property was 60 days delinquent. Since transfer the loan has been brought current.
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💬 Servicer Commentary

2026-05-28
78-06 Owners Corp.
Counsel has cleared conflicts and default/ROR letter was issued to the borrowers. Borrower entered into an agreement with a cell tower provider without consent in 2024. Borrower utilized proceeds ($556k) from transaction to fund delinquent
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💬 Servicer Commentary

2026-03-30
Howard Ruskin
Borrower has communicated intent to transition title to Lender. Special Servicer continues to pursue a foreclosure and/or deed in lieu strategy as of 2/2026.
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💬 Servicer Commentary

2025-12-30
Regal Cinemas Lincolnshire
Scott D. Greenberg
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 has negotiated a sale with a third-party buyer, and closing has been moved to be no later than the end of December 2025.
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* 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.

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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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