Mixed use · Las Vegas, Nevada
The Gramercy
The Gramercy is financed with a $34.1M CMBS loan at 4.167% that reaches maturity on May 6, 2027, in 6 months. As of the Oct 2026 servicer report its status is current.
The loan
- Balance in tracked trusts
- $34,103,994
- Original balance (same notes)
- $37,000,000
- Interest rate
- 4.167% fixed
- Originated
- April 21, 2017
- Maturity
- May 6, 2027
- Payments
- Interest only for 60 months, then amortizing
- Prepayment lockout ended
- June 5, 2019
- Prepayment premium ends
- February 5, 2027 (yield maintenance)
- Originator
- GSMC
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- Partly defeased
The property
- Address
- 9205 & 9275 West Russell Rd, Las Vegas, NV 89148
- Metro
- Las Vegas-Henderson-North Las Vegas, NV
- Rentable area
- 187,008 sq ft
- Built
- 2008, renovated 2014
- Largest tenants
- Axos Fnancial, Inc.; RGN-Las Vegas VII, LLC; FDM4 America, Inc.
- Value at securitization
- $61.8M (Mar 2017)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 1.98x | 1.49x |
| Occupancy | 96% | 69% |
| Net operating income (annualized from 6 months) | $4.3M | $6.5M |
| Debt yield | 19.1% |
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 GS Mortgage Securities Trust 2017-GS6 filing for the reporting period ending October 6, 2026, filed with the SEC October 22, 2026.
- Coverage down 0.25x or more from securitization
- Occupancy down 10 points or more from securitization
- 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
- Occupancy has fallen from 96% when the loan was securitized to 69%.
- Net operating income is 52% above the underwritten figure ($6.5M a year against $4.3M; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 1.98x at securitization to 1.49x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| October 2026 | $34.1M | Current | No | 1.49x | 69% |
| September 2026 | $34.2M | Current | No | 1.49x | 69% |
| August 2026 | $34.2M | Current | No | 1.49x | 69% |
| July 2026 | $34.3M | Current | No | 1.45x | 69% |
| June 2026 | $34.3M | Current | No | 1.45x | 69% |
| May 2026 | $34.4M | Current | No | n/a | n/a |
| April 2026 | $34.5M | Current | No | 1.23x | 68% |
| March 2026 | $34.5M | Current | No | 1.23x | 68% |
| February 2026 | $34.6M | Current | No | 1.16x | 68% |
| January 2026 | $34.6M | Current | No | 1.16x | 68% |
| December 2025 | $34.7M | Current | No | 1.16x | 68% |
| November 2025 | $34.8M | Current | No | 1.16x | 62% |
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 |
|---|---|---|---|---|
| GS Mortgage Securities Trust 2017-GS6 | 11 | $34,103,994 | Oct 2026 | SEC filing, October 22, 2026 |
Other Las Vegas-Henderson-North Las Vegas loans due in 2027
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Harmon Corner | Las Vegas, NV | Mixed use | $143.0M | 4.25% | Dec 2027 | 3.96x | 97% | Current |
| Henderson - Stephanie Pl | Henderson, NV | Self storage | $42.4M | 4.175% | Dec 2027 | n/a | n/a | Current |
| The Shops and Gym at Durango Arby Plaza | Las Vegas, NV | Retail | $21.5M | 4.40% | Sep 2027 | n/a | n/a | Current |
| Marnell Corporate Center V | Las Vegas, NV | Office | $20.6M | 5.875% | Dec 2027 | 1.54x | 89% | Current |
| Corporate Center I & III | Las Vegas, NV | Office | $17.5M | 5.77% | Nov 2027 | 1.42x | 97% | Current |
| Ocotillo Plaza, Las Vegas | Las Vegas, NV | Retail | $17.3M | 5.07% | Feb 2027 | n/a | n/a | Current |
| Foothills Plaza | Henderson, NV | Retail | $14.5M | 4.716% | Dec 2027 | 1.90x | 98% | Current |
| Majestic Industrial Portfolio | Las Vegas, NV | Other | $13.4M | 5.03% | Jun 2027 | 6.06x | 100% | Current |
All loans maturing in 2027 · All Las Vegas-Henderson-North Las Vegas loans
Source: each trust's ABS-EE asset-data exhibit (Regulation AB Schedule AL) on SEC EDGAR, reporting period ending October 6, 2026. Servicers report these figures; cmbs.news does not audit them. How this page is built.