One CMBS Default Sends Three East Harlem Buildings to Auction

Three rental buildings in East Harlem are scheduled for the same foreclosure auction on Nov. 17, and court filings show why: all three sit behind the same securitized loan. 102 East 103rd Street, 291 Pleasant Avenue and 124 East 103rd Street carry separate foreclosure cases, separate index numbers and separate judgments totaling $17,166,247.04, but every filing names the same plaintiff, the same referee and the same auction slot, 2:15 p.m. at the New York County Courthouse, 60 Centre Street.

Why it matters

The plaintiff in all three cases is U.S. Bank National Association, as Trustee for the Registered Holders of Wells Fargo Commercial Mortgage Securities, Inc., Multifamily Mortgage Pass-Through Certificates, Series 2019-SB63, a commercial mortgage-backed securities trust, according to the Notice of Sale for 102 East 103rd Street, 291 Pleasant Avenue and 124 East 103rd Street. The “Multifamily Mortgage Pass-Through” designation confirms these are rental apartment buildings, not single-family homes, so the defendants are single-purpose LLCs, not individual owners. The same referee, Scott H. Siller, Esq., and the same law firm, McCarter & English, LLP, handle all three. Consent orders extending the sale deadline were entered in all three cases on the same day, July 22, 2026. Taken together, that is strong evidence a single CMBS loan was cross-collateralized across three separate East Harlem tax lots, and the trust is now foreclosing on all of it at once. Two of the three, 102 East 103rd Street and 124 East 103rd Street, sit on the same block, adjacent lots, reinforcing that this reads as one portfolio, not a coincidence of timing. More foreclosure coverage from East Harlem, including a nearby auction at 318-322 East 126th Street, shows the neighborhood carrying several distressed multifamily loans at once.

The numbers

• $6,844,225.78: judgment against 102 East 103 LLC, entered March 5, 2026, block 1630, lot 72, index 850168/2024
• $2,764,450.60: judgment against 291 Pleasant Ave LLC, entered March 3, 2026, block 1709, lot 24, index 850172/2024
• $7,557,570.66: judgment against 124 East 103 LLC, entered March 12, 2026, block 1630, lot 63, index 850171/2024
• $17,166,247.04: combined total across all three, plus accruing interest and costs

What’s next

None of the three notices discloses who stands behind the borrower LLCs, so the sponsor losing the portfolio is not yet public record. We will watch the Nov. 17 results to see whether one bidder takes all three lots, confirming they trade as a package, or whether they split among different buyers. A sale price well below the $17.17 million in judgments would mark a loss for whoever controls the three LLCs; a credit bid by the trust itself would signal no outside buyer met the reserve.