Industrial · North Bergen, New Jersey
Tonnelle Square Two
Tonnelle Square Two is financed with a $8.1M CMBS loan at 4.03% that reached maturity on September 6, 2026, 1 month ago. As of the Sep 2026 servicer report, the latest filed for this loan, its status is past maturity and not performing.
The loan
- Balance in tracked trusts
- $8,125,000
- Original balance (same notes)
- $8,125,000
- Interest rate
- 4.03% fixed
- Originated
- August 13, 2021
- Maturity
- September 6, 2026
- Payments
- Interest only for the full term
- Prepayment lockout ended
- July 5, 2026
- Master servicer
- Midland Loan Services
- Originator
- Citi Real Estate Funding Inc.
Status
- Payment status
- Non performing matured balloon. (code 5)
- Special servicing
- Transferred September 8, 2026
- Workout strategy
- Other
- Defeasance
- None reported
The property
- Address
- 2001-2003 42nd Street, North Bergen, NJ 07047
- Metro
- New York-Newark-Jersey City, NY-NJ
- Rentable area
- 64,355 sq ft
- Built
- 1900, renovated 2020
- Largest tenants
- Happy Box Store; Billions Builders Corp; Ivie Joy Floral Arts LLC
- Value at securitization
- $12.5M (Jun 2022)
Performance
| At securitization | Latest | |
|---|---|---|
| DSCR (NOI) | 2.19x | n/a |
| Occupancy | 96% | n/a |
| Net operating income | $728K | n/a |
Watch flags
Computed from the Benchmark 2021-B29 Mortgage Trust filing for the reporting period ending September 11, 2026, filed with the SEC September 28, 2026.
- With the special servicer
- 30+ days delinquent or matured unpaid
- Past maturity
On the cmbs.news watch list in every report since September 2026.
cmbs.news's own rule-based labels on the filed fields (definitions), not a credit rating, a prediction or a view of the borrower.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $8.1M | Non performing matured balloon | Yes | n/a | n/a |
| August 2026 | $8.1M | Current | No | n/a | n/a |
| July 2026 | $8.1M | Current | No | n/a | n/a |
| June 2026 | $8.1M | Current | No | n/a | n/a |
| May 2026 | $8.1M | Current | No | n/a | n/a |
| April 2026 | $8.1M | Current | No | 2.17x | 100% |
| March 2026 | $8.1M | Current | No | 2.10x | 96% |
| February 2026 | $8.1M | Current | No | 2.10x | 96% |
| January 2026 | $8.1M | Current | No | 2.10x | 96% |
| December 2025 | $8.1M | Current | No | 2.10x | 96% |
| November 2025 | $8.1M | Current | No | 2.10x | 96% |
| October 2025 | $8.1M | Current | No | 2.10x | 96% |
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 September 8, 2026, still there.
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 2021-B29 Mortgage Trust | 36 | $8,125,000 | Sep 2026 | SEC filing, September 28, 2026 |
Other New York-Newark-Jersey City loans due in 2026
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Novo Nordisk HQ | Plainsboro, NJ | Office | $210.7M | 2.838% | Nov 2026 | 4.18x | 78% | Current |
| 681 Fifth Avenue | New York, NY | Mixed use | $135.0M | 4.127% | Nov 2026 | 0.16x | 66% | With the special servicer and 90+ days delinquent |
| The Essex | New York, NY | Mixed use | $117.0M | 2.759% | Nov 2026 | n/a | n/a | Current |
| 8 Times Square & 1460 Broadway | New York, NY | Mixed use | $100.0M | 4.05% | Nov 2026 | 2.01x | 100% | With the special servicer |
| 85 Tenth Avenue | New York, NY | Mixed use | $100.0M | 3.821% | Dec 2026 | 1.91x | 89% | With the special servicer |
| 55 Prospect Street, Brooklyn (2026 maturity) | Brooklyn, NY | Office | $72.9M | 4.05% | Sep 2026 | n/a | n/a | With the special servicer |
| 101 Ludlow | New York, NY | Mixed use | $71.0M | 4.412% | Nov 2026 | 1.81x | 100% | Current |
| 20 Times Square, New York (2026 maturity), loan 1 in CSAIL 2018-CX12 Commercial Mortgage Trust | New York, NY | Other | $64.7M | 3.108% | May 2026 | 4.15x | n/a | With the special servicer |
All loans maturing in 2026 · 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.