Office · Albany, New York
11 North Pearl Street
11 North Pearl Street is financed with a $5.2M CMBS loan at 5.30% that reaches maturity on April 6, 2028, in 17 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $5,225,131
- Original balance (same notes)
- $6,500,000
- Interest rate
- 5.30% fixed
- Originated
- March 16, 2018
- Maturity
- April 6, 2028
- Payments
- Amortizing over 25 years
- Prepayment lockout ends
- December 5, 2027
- Master servicer
- Trimont LLC
- Originator
- BSPRT Finance, LLC
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 11 North Pearl Street, Albany, NY 12207
- Metro
- Albany-Schenectady-Troy, NY
- Rentable area
- 92,181 sq ft
- Built
- 1927, renovated 1999
- Largest tenants
- CenturyLink Communications LLC; Intellifiber Networks LLC; Level 3 Communications
- Value at securitization
- $11.0M (Jan 2018)
Performance
| At securitization | Latest (Sep 2025) | |
|---|---|---|
| DSCR (NOI) | 2.03x | 1.86x |
| Occupancy | 73% | 42% |
| Net operating income (annualized from 9 months) | $953K | $876K |
| Debt yield | 16.8% |
Debt yield here is the latest NOI divided by the balance held in the trusts below. If part of the loan sits outside them, the true figure is lower.
Watch flags
Computed from the Wells Fargo Commercial Mortgage Trust 2018-C46 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 2026.
- Occupancy down 10 points or more from securitization
cmbs.news's own rule-based labels on the filed fields (definitions), not a credit rating, a prediction or a view of the borrower.
What the filing shows
- Occupancy has fallen from 73% when the loan was securitized to 42%.
- Net operating income is 8% below the underwritten figure ($876K a year against $953K; the latest statement covers 9 months, annualized).
- Debt service coverage moved from 2.03x at securitization to 1.86x on the latest statements.
- The filing gives Jan 2028 as the lease end date for the largest tenant (CenturyLink Communications LLC), before the loan matures. Lenders look hard at that rollover.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $5.2M | Current | No | 1.86x | 42% |
| August 2026 | $5.2M | Current | No | 1.86x | 42% |
| July 2026 | $5.3M | Current | No | 1.86x | 42% |
| June 2026 | $5.3M | Current | No | 1.86x | 42% |
| May 2026 | $5.3M | Current | No | 1.86x | 42% |
| April 2026 | $5.3M | Current | No | 1.86x | 42% |
| March 2026 | $5.3M | Current | No | 1.86x | 42% |
| February 2026 | $5.3M | Current | No | 1.86x | 42% |
| January 2026 | $5.3M | Current | No | 1.86x | 42% |
| December 2025 | $5.4M | Current | No | 1.54x | 42% |
| November 2025 | $5.4M | Current | No | 1.54x | 42% |
| October 2025 | $5.4M | Current | No | 1.54x | 42% |
From each trust's ABS-EE filing for that month. Coverage and occupancy change only when the servicer reports new statements. If one trust holding a piece of the loan skipped a month, that month's balance reads low.
Where the loan sits
One trust holds this loan in the data.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| Wells Fargo Commercial Mortgage Trust 2018-C46 | 39 | $5,225,131 | Sep 2026 | SEC filing, September 29, 2026 |
Other Albany-Schenectady-Troy loans due in 2028
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Capitol Crossings Apartments | Albany, NY | Multifamily | $20.4M | 7.295% | Nov 2028 | 1.56x | 96% | Current |
| New York State Ocfs Headquarters | Rensselaer, NY | Office | $11.7M | 5.38% | Nov 2028 | 1.15x | 100% | Current |
All loans maturing in 2028 · All Albany-Schenectady-Troy loans
Source: each trust's ABS-EE asset-data exhibit (Regulation AB Schedule AL) on SEC EDGAR, reporting period ending September 11, 2026. Servicers report these figures; cmbs.news does not audit them. How this page is built.