Industrial · Liverpool, New York
Emerald Building
Emerald Building is financed with a $9.7M CMBS loan at 3.88% that reaches maturity on February 6, 2027, in 3 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $9,668,931
- Original balance (same notes)
- $9,668,931
- Interest rate
- 3.88% fixed
- Originated
- January 24, 2022
- Maturity
- February 6, 2027
- Payments
- Interest only for the full term
- Prepayment lockout ended
- October 5, 2022
- Prepayment premium ends
- October 5, 2026 (yield maintenance)
- Master servicer
- Midland Loan Services
- Originator
- Goldman Sachs Bank USA
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- Partly defeased
The property
- Address
- 7600 Morgan Road, Liverpool, NY 13090
- Metro
- Syracuse, NY
- Rentable area
- 208,540 sq ft
- Built
- 1963
- Largest tenants
- Ramboll Americas hut Solutions; Emerald Equipment Systems; Sonepar
- Value at securitization
- $15.7M (Nov 2021)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 2.69x | 2.92x |
| Occupancy | 100% | 100% |
| Net operating income (annualized from 6 months) | $1.0M | $2.2M |
| Debt yield | 23.2% |
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 2022-B33 Mortgage Trust filing for the reporting period ending September 11, 2026, filed with the SEC September 28, 2026.
- Matures within 12 months
- Largest tenant's lease ends within 12 months
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 119% above the underwritten figure ($2.2M a year against $1.0M; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 2.69x at securitization to 2.92x on the latest statements.
- The filing gives Oct 2026 as the lease end date for the largest tenant (Ramboll Americas hut Solutions), 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 | $9.7M | Current | No | 2.92x | 100% |
| August 2026 | $9.7M | Current | No | 2.92x | 100% |
| July 2026 | $9.7M | Current | No | n/a | n/a |
| June 2026 | $9.7M | Current | No | n/a | n/a |
| May 2026 | $9.7M | Current | No | n/a | n/a |
| April 2026 | $9.7M | Current | No | 2.86x | 100% |
| March 2026 | $9.7M | Current | No | 2.86x | 100% |
| February 2026 | $9.7M | Current | No | 2.86x | 100% |
| January 2026 | $9.7M | Current | No | 2.88x | 100% |
| December 2025 | $9.7M | Current | No | 2.88x | 100% |
| November 2025 | $9.7M | Current | No | 2.88x | 100% |
| October 2025 | $9.7M | Current | No | 2.91x | 100% |
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 |
|---|---|---|---|---|
| Benchmark 2022-B33 Mortgage Trust | 31 | $9,668,931 | Sep 2026 | SEC filing, September 28, 2026 |
Other Syracuse loans due in 2027
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Best Western Syracuse-Liverpool | Liverpool, NY | Hotel | $2.4M | 5.85% | Apr 2027 | 0.59x | 40% | Current |
| 3470 Erie Boulevard East | DeWitt, NY | Retail | $2.2M | 6.14% | Apr 2027 | 1.55x | 100% | Current |
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.