Mixed use · Long Island City, New York
Queens Atrium
30-20 Thomson Avenue, Long Island City, NY · Google Maps
Public CMBS trusts hold $95.0M of the loan on Queens Atrium at 8.155% that reaches maturity on July 6, 2031, in 4 years and 8 months. As of the Oct 2026 and Nov 2026 servicer reports its status is current.
The loan
- Balance in tracked trusts
- $95,000,000
- Original balance (same notes)
- $95,000,000
- Interest rate
- 8.155% fixed
- Originated
- July 7, 2026
- Maturity
- July 6, 2031
- Payments
- Interest only for the full term
- Prepayment lockout ends
- December 5, 2028
- Prepayment premium ends
- March 5, 2031 (yield maintenance)
- Master servicer
- Midland Loan Services
- Originator
- Bank of Montreal
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 30-20 Thomson Avenue, Long Island City, NY 11101
- Metro
- New York-Newark-Jersey City, NY-NJ
- Rentable area
- 438,193 sq ft
- Built
- 1914, renovated 2012
- Largest tenants
- CUNY Laguardia Community College; NYC School Construction Authority; NYC Board of Education
- Value at securitization
- $160.0M (Jul 2026)
Performance
| Measure | At securitization | Latest |
|---|---|---|
| DSCR (NOI) | 1.39x | n/a |
| Occupancy | 100% | n/a |
| Net operating income | $11.0M | n/a |
Comparable loans: mixed use properties in New York-Newark-Jersey City, NY-NJ, with NOI, occupancy and value.
Watch flags
Computed from the Benchmark 2026-V24 Mortgage Trust filing for the reporting period ending November 12, 2026, filed with the SEC October 26, 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.
Who is behind this loan
- Non-recourse carveout guarantor and sponsor
- Shown with Pro
- Parties and contacts named by the trust
- Shown with Pro
Source: SEC Form 424B2 prospectus, Annex A-1, filed Aug 2026.
Source: SEC Form 10-D, Exhibit 99.1 distribution statement, filed Nov 2026.
Operating statement
| Annual | At securitization | Latest | Per sq ft |
|---|---|---|---|
| Revenue | $18.1M | n/a | |
| Operating expenses | $7.2M | n/a | |
| Net operating income | $11.0M | n/a | |
| Net cash flow | $10.9M | n/a | |
| Expense ratio | 39.6% | n/a |
From the servicer's Schedule AL report; 438,193 sq ft; renovated 2012.
Largest tenants
| Tenant | Sq ft | Share of building | Lease ends |
|---|---|---|---|
| CUNY Laguardia Community College | 212,341 | 48% | Oct 2035 |
| NYC School Construction Authority | 121,809 | 28% | Apr 2030 |
| NYC Board of Education | 103,382 | 24% | Feb 2029 |
Red: the lease ends before the loan matures.
Refinance and early payoff, at today's rates
This estimate uses today's Treasury curve and needs JavaScript.
Rough estimates, not quotes. New loan: the filed NOI divided by the coverage you set, at the Treasury yield for the term plus your spread. Early payoff: the present value of the remaining scheduled payments to the open date at today's Treasury yields, less the balance, which is roughly what defeasance or yield maintenance costs. Loan documents, fees and the securities bought change the real number. Treasury yields: U.S. Treasury daily par curve.
The last 3 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| October 2026 | $77.0M | Current | No | n/a | n/a |
| September 2026 | $77.0M | Current | No | n/a | n/a |
| August 2026 | $77.0M | 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.
Where the loan sits
The loan is split into 2 notes held by different trusts. Each trust reports its own piece.
| Trust | Asset no. in that trust | Balance | Report period | Source |
|---|---|---|---|---|
| BMO 2026-5C16 Mortgage Trust | 2 | $77,000,000 | Oct 2026 | SEC filing, November 2, 2026 |
| Benchmark 2026-V24 Mortgage Trust | 13 | $18,000,000 | Nov 2026 | SEC filing, October 26, 2026 |
Other New York-Newark-Jersey City loans due in 2031
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| 535-545 Fifth Avenue | New York, NY | Mixed use | $309.3M | 7.06% | Jan 2031 | 1.23x | 89% | Current |
| 375 Pearl Street | New York, NY | Office | $220.0M | 3.368% | Jun 2031 | 2.15x | 100% | Current |
| Park Avenue Plaza | New York, NY | Office | $180.0M | 2.837% | Nov 2031 | 3.70x | 100% | Current |
| 15 West 47th Street and 2 other properties | New York, NY | Office | $141.0M | 3.51% | Jan 2031 | n/a | n/a | Current |
| Journal Squared Tower 2 | Jersey City, NJ | Multifamily | $133.5M | 3.49% | Dec 2031 | 3.24x | 94% | Current |
| 2 Washington Street | New York, NY | Multifamily | $131.5M | 3.45% | Aug 2031 | 2.91x | 100% | With the special servicer and 90+ days delinquent |
| 1 Willoughby Square | Brooklyn, NY | Office | $125.0M | 6.786% | Jan 2031 | 0.97x | 91% | Current |
| The Arches and 5 other properties | Bronx, NY | Other | $120.0M | 5.436% | Feb 2031 | n/a | n/a | Current |
All loans maturing in 2031 · All New York-Newark-Jersey City loans
Source: each trust's ABS-EE asset-data exhibit (Regulation AB Schedule AL) on SEC EDGAR, reporting periods ending October 13, 2026, November 12, 2026. Servicers report these figures; cmbs.news does not audit them. How this page is built.