Office · Morristown, New Jersey
44 Whippany
44 Whippany is financed with a $26.3M CMBS loan at 3.56% that reaches maturity on November 6, 2030, in 4 years. As of the Sep 2026 servicer report, the latest filed for this loan, its status is late, less than 30 days.
The loan
- Balance in tracked trusts
- $26,250,000
- Original balance (same notes)
- $26,250,000
- Interest rate
- 3.56% fixed
- Originated
- October 30, 2020
- Maturity
- November 6, 2030
- Payments
- Interest only for the full term
- Prepayment lockout ends
- September 5, 2030
- Master servicer
- Midland Loan Services
- Originator
- Citi Real Estate Funding Inc.
Status
- Payment status
- Late payment but less than 30 days delinquent (code B)
- Special servicing
- Transferred February 11, 2025, returned July 28, 2025
- Workout strategy
- Resolved
- Defeasance
- None reported
The property
- Address
- 44 Whippany Road, Morristown, NJ 7960
- Metro
- New York-Newark-Jersey City, NY-NJ
- Rentable area
- 231,865 sq ft
- Units, rooms or beds
- 14
- Built
- 1986
- Largest tenants
- Whipp Morristown, LLC
- Value at securitization
- $35.0M (Sep 2020)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 1.85x | 1.85x |
| Occupancy | 100% | 100% |
| Net operating income (annualized from 6 months) | $1.8M | $3.5M |
| Debt yield | 13.5% |
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 Benchmark 2020-B21 Mortgage Trust filing for the reporting period ending September 11, 2026, filed with the SEC September 28, 2026.
None this month. No flag in the cmbs.news screen applies to this loan.
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
- Net operating income is 102% above the underwritten figure ($3.5M a year against $1.8M; the latest statement covers 6 months, annualized).
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $26.3M | Late payment but less than 30 days delinquent | No | 1.85x | 100% |
| August 2026 | $26.3M | Late payment but less than 30 days delinquent | No | n/a | n/a |
| July 2026 | $26.3M | Late payment but less than 30 days delinquent | No | n/a | n/a |
| June 2026 | $26.3M | Late payment but less than 30 days delinquent | No | n/a | n/a |
| May 2026 | $26.3M | Late payment but less than 30 days delinquent | No | n/a | n/a |
| April 2026 | $26.3M | Late payment but less than 30 days delinquent | No | 1.85x | 100% |
| March 2026 | $26.3M | Late payment but less than 30 days delinquent | No | 1.85x | 100% |
| February 2026 | $26.3M | Late payment but less than 30 days delinquent | No | 1.85x | 100% |
| January 2026 | $26.3M | Current | No | 1.85x | 100% |
| December 2025 | $26.3M | Current | No | 1.85x | 100% |
| November 2025 | $26.3M | Current | No | 1.85x | 100% |
| October 2025 | $26.3M | Current | No | n/a | n/a |
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.
Special-servicing history
- Transferred to the special servicer February 11, 2025, returned to the master servicer July 28, 2025.
Transfer and return dates as reported in the filings of the past year; an earlier episode shows here only if a filing in that year still reports it.
Where the loan sits
One trust holds this loan in the data.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| Benchmark 2020-B21 Mortgage Trust | 16 | $26,250,000 | Sep 2026 | SEC filing, September 28, 2026 |
Other New York-Newark-Jersey City loans due in 2030
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| 711 Fifth Avenue | New York, NY | Mixed use | $545.0M | 3.16% | Mar 2030 | 2.71x | 66% | Current |
| Kings Plaza | Brooklyn, NY | Retail | $487.0M | 3.359% | Jan 2030 | 2.38x | 91% | Current |
| Grace Building | New York, NY | Office | $450.0M | 2.692% | Dec 2030 | n/a | n/a | Current |
| 545 Washington Boulevard | Jersey City, NJ | Office | $251.6M | 3.405% | Feb 2030 | 2.00x | 91% | Current |
| 605 Third Avenue | New York, NY | Office | $231.0M | 1.938% | Dec 2030 | 4.66x | 83% | Current |
| The Spiral | New York, NY | Office | $200.0M | 5.50% | Jan 2030 | n/a | n/a | Current |
| 250 West 57th Street | New York, NY | Office | $180.0M | 2.829% | Dec 2030 | 4.41x | 85% | Current |
| Mall at Bay Plaza | The Bronx, NY | Retail | $170.0M | 6.715% | Nov 2030 | n/a | n/a | Current |
All loans maturing in 2030 · All New York-Newark-Jersey City 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.