← Bank 2021-BNK31 · Loan annex · CMBS market
- Deal
- Bank 2021-BNK31
- Current balance
- $5.7M (September 2026)
- Share of deal
- 0.7%
- Status
- Matured balloon, non-performing
- DSCR (latest)
- 2.13
- Occupancy (latest)
- 94%
- Scheduled maturity
- 2031-01-01
Property and terms
| Property | QUINNIPIAC GARDENS |
| Address | 1 QUINNIPIAC COURT AKA 1314 QUINNIPIAC AVENUE; New Haven, CT 06513 |
| Property type | Multifamily |
| Units, beds or keys | 71 |
| Net rentable square feet | not yet reported |
| Year built | 1961 |
| Year last renovated | not yet reported |
| Original balance | $6.0M |
| Current balance | $5.7M (September 2026) |
| Share of deal balance | 0.7% |
| Interest rate at origination | 3.81% |
| Current interest rate | 3.81% |
| Origination date | 12-23-2020 |
| Original term | 120 months |
| Amortization term | 360 months |
| Interest-only period | 36 months |
| Scheduled maturity | 2031-01-01 |
| Prepayment lockout end | 09-30-2030 |
| Yield maintenance end | not yet reported |
| Servicer | Trimont LLC |
| Loan servicer | not yet reported |
| Originator | Morgan Stanley Bank, N.A. |
| Current status | Matured balloon, non-performing |
| Specially serviced now | No |
| Defeased | Yes |
Valuation
| Basis | Amount | Date | Source (as filed) |
|---|---|---|---|
| At securitization | $8.3M | 10-23-2020 | MAI |
Monthly history
| Month | Balance | Status | Rate | DSCR (NCF) | DSCR (NOI) | Occupancy | Advances | Financial period end | Revenue | Expenses | NOI | NCF |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| February 2021 | $6.0M | Current | 3.81% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| March 2021 | $6.0M | Current | 3.81% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| April 2021 | $6.0M | Current | 3.81% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| May 2021 | $6.0M | Current | 3.81% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| June 2021 | $6.0M | Current | 3.81% | 1.94 | 2.02 | 93% | $0 | 03-31-2021 | $229,812 | $116,328 | $113,484 | $109,046 |
| July 2021 | $6.0M | Current | 3.81% | 1.94 | 2.02 | 93% | $0 | 03-31-2021 | $229,812 | $116,328 | $113,484 | $109,046 |
| August 2021 | $6.0M | Current | 3.81% | 1.94 | 2.02 | 97% | $0 | 06-30-2021 | $453,480 | $221,332 | $232,148 | $223,273 |
| September 2021 | $6.0M | Current | 3.81% | 1.94 | 2.02 | 97% | $0 | 06-30-2021 | $453,480 | $221,332 | $232,148 | $223,273 |
| October 2021 | $6.0M | Current | 3.81% | 1.94 | 2.02 | 97% | $0 | 06-30-2021 | $453,480 | $221,332 | $232,148 | $223,273 |
| November 2021 | $6.0M | Matured balloon, non-performing | 3.81% | 1.94 | 2.02 | 97% | $19,659 | 06-30-2021 | $453,480 | $221,332 | $232,148 | $223,273 |
| December 2021 | $6.0M | Current | 3.81% | 2.04 | 2.12 | 97% | $0 | 09-30-2021 | $710,702 | $343,026 | $367,676 | $354,363 |
| January 2022 | $6.0M | Current | 3.81% | 2.04 | 2.12 | 97% | $0 | 09-30-2021 | $710,702 | $343,026 | $367,676 | $354,363 |
| February 2022 | $6.0M | Current | 3.81% | 2.04 | 2.12 | 97% | $0 | 09-30-2021 | $710,702 | $343,026 | $367,676 | $354,363 |
| March 2022 | $6.0M | Current | 3.81% | 1.95 | 2.03 | 99% | $0 | 12-31-2021 | $923,813 | $452,150 | $471,663 | $453,913 |
| April 2022 | $6.0M | Current | 3.81% | 1.95 | 2.03 | 99% | $0 | 12-31-2021 | $923,813 | $452,150 | $471,663 | $453,913 |
| May 2022 | $6.0M | Current | 3.81% | 1.95 | 2.03 | 99% | $0 | 12-31-2021 | $923,813 | $452,150 | $471,663 | $453,913 |
| June 2022 | $6.0M | Matured balloon, non-performing | 3.81% | 1.95 | 2.03 | 99% | $19,659 | 12-31-2021 | $923,813 | $452,150 | $471,663 | $453,913 |
| July 2022 | $6.0M | Current | 3.81% | 1.85 | 1.93 | 99% | $0 | 03-31-2022 | $223,342 | $112,995 | $110,347 | $105,909 |
| August 2022 | $6.0M | Current | 3.81% | 1.85 | 1.93 | 99% | $0 | 03-31-2022 | $223,342 | $112,995 | $110,347 | $105,909 |
| September 2022 | $6.0M | Current | 3.81% | 1.97 | 2.05 | 99% | $0 | 06-30-2022 | $464,306 | $227,250 | $237,056 | $228,181 |
| October 2022 | $6.0M | Matured balloon, non-performing | 3.81% | 1.97 | 2.05 | 99% | $19,025 | 06-30-2022 | $464,306 | $227,250 | $237,056 | $228,181 |
| November 2022 | $6.0M | Current | 3.81% | 1.97 | 2.05 | 99% | $0 | 06-30-2022 | $464,306 | $227,250 | $237,056 | $228,181 |
| December 2022 | $6.0M | Current | 3.81% | 1.97 | 2.05 | 99% | $0 | 06-30-2022 | $464,306 | $227,250 | $237,056 | $228,181 |
| January 2023 | $6.0M | Current | 3.81% | 1.97 | 2.05 | 99% | $0 | 06-30-2022 | $464,306 | $227,250 | $237,056 | $228,181 |
| February 2023 | $6.0M | Current | 3.81% | 1.97 | 2.05 | 99% | $0 | 06-30-2022 | $464,306 | $227,250 | $237,056 | $228,181 |
| March 2023 | $6.0M | Matured balloon, non-performing | 3.81% | 2.38 | 2.46 | 100% | $17,757 | 12-31-2022 | $996,977 | $426,502 | $570,475 | $552,725 |
| April 2023 | $6.0M | Matured balloon, non-performing | 3.81% | 2.38 | 2.46 | 100% | $19,659 | 12-31-2022 | $996,977 | $426,502 | $570,475 | $552,725 |
| May 2023 | $6.0M | Matured balloon, non-performing | 3.81% | 2.38 | 2.46 | 100% | $19,025 | 12-31-2022 | $996,977 | $426,502 | $570,475 | $552,725 |
| June 2023 | $6.0M | Matured balloon, non-performing | 3.81% | 2.38 | 2.46 | 100% | $19,659 | 12-31-2022 | $996,977 | $426,502 | $570,475 | $552,725 |
| July 2023 | $6.0M | Current | 3.81% | 3.08 | 3.16 | 99% | $0 | 03-31-2023 | $300,568 | $120,188 | $180,380 | $175,942 |
| August 2023 | $6.0M | Current | 3.81% | 3.08 | 3.16 | 99% | $0 | 03-31-2023 | $300,568 | $120,188 | $180,380 | $175,942 |
| September 2023 | $6.0M | Matured balloon, non-performing | 3.81% | 2.87 | 2.94 | 97% | $19,659 | 06-30-2023 | $562,507 | $222,225 | $340,282 | $331,407 |
| October 2023 | $6.0M | Matured balloon, non-performing | 3.81% | 2.87 | 2.94 | 97% | $19,025 | 06-30-2023 | $562,507 | $222,225 | $340,282 | $331,407 |
| November 2023 | $6.0M | Current | 3.81% | 2.87 | 2.94 | 97% | $0 | 06-30-2023 | $562,507 | $222,225 | $340,282 | $331,407 |
| December 2023 | $6.0M | Matured balloon, non-performing | 3.81% | 2.87 | 2.94 | 97% | $19,025 | 06-30-2023 | $562,507 | $222,225 | $340,282 | $331,407 |
| January 2024 | $6.0M | Matured balloon, non-performing | 3.81% | 2.87 | 2.94 | 97% | $19,659 | 06-30-2023 | $562,507 | $222,225 | $340,282 | $331,407 |
| February 2024 | $6.0M | Current | 3.81% | 2.87 | 2.94 | 97% | $0 | 06-30-2023 | $562,507 | $222,225 | $340,282 | $331,407 |
| March 2024 | $6.0M | Current | 3.81% | 2.85 | 2.92 | 99% | $0 | 09-30-2023 | $823,055 | $314,278 | $508,777 | $495,465 |
| April 2024 | $6.0M | Matured balloon, non-performing | 3.81% | 2.85 | 2.92 | 99% | $27,966 | 09-30-2023 | $823,055 | $314,278 | $508,777 | $495,465 |
| May 2024 | $6.0M | Matured balloon, non-performing | 3.81% | 2.85 | 2.92 | 99% | $27,967 | 09-30-2023 | $823,055 | $314,278 | $508,777 | $495,465 |
| June 2024 | $6.0M | Matured balloon, non-performing | 3.81% | 2.86 | 2.94 | 97% | $27,966 | 12-31-2023 | $1.1M | $429,864 | $681,082 | $663,332 |
| July 2024 | $6.0M | Matured balloon, non-performing | 3.81% | 2.86 | 2.94 | 97% | $27,967 | 12-31-2023 | $1.1M | $429,864 | $681,082 | $663,332 |
| August 2024 | $6.2M | Current | 4.50% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| September 2024 | $5.9M | Matured balloon, non-performing | 3.81% | 1.92 | 1.97 | 96% | $27,966 | 06-30-2024 | $595,573 | $280,754 | $314,819 | $305,944 |
| October 2024 | $5.9M | Matured balloon, non-performing | 3.81% | 1.92 | 1.97 | 96% | $27,967 | 06-30-2024 | $595,573 | $280,754 | $314,819 | $305,944 |
| November 2024 | $5.9M | Current | 3.81% | 1.92 | 1.97 | 96% | $0 | 06-30-2024 | $595,573 | $280,754 | $314,819 | $305,944 |
| December 2024 | $5.9M | Current | 3.81% | 2.00 | 2.06 | 96% | $0 | 09-30-2024 | $881,329 | $398,874 | $482,455 | $469,142 |
| January 2025 | $5.9M | Current | 3.81% | 2.00 | 2.06 | 96% | $0 | 09-30-2024 | $881,329 | $398,874 | $482,455 | $469,142 |
| February 2025 | $5.9M | Current | 3.81% | 2.00 | 2.06 | 96% | $0 | 09-30-2024 | $881,329 | $398,874 | $482,455 | $469,142 |
| March 2025 | $5.9M | Matured balloon, non-performing | 3.81% | 2.00 | 2.06 | 96% | $27,969 | 09-30-2024 | $881,329 | $398,874 | $482,455 | $469,142 |
| April 2025 | $6.1M | Current | 4.50% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| May 2025 | $5.9M | Matured balloon, non-performing | 3.81% | 2.00 | 2.06 | 96% | $27,967 | 09-30-2024 | $881,329 | $398,874 | $482,455 | $469,142 |
| July 2025 | $5.8M | Matured balloon, non-performing | 3.81% | 1.60 | 1.65 | 94% | $27,967 | 12-31-2024 | $1.1M | $605,831 | $541,831 | $524,081 |
| August 2025 | $5.8M | Current | 3.81% | 1.60 | 1.65 | 94% | $0 | 12-31-2024 | $1.1M | $605,831 | $541,831 | $524,081 |
| September 2025 | $5.8M | Matured balloon, non-performing | 3.81% | 1.60 | 1.65 | 94% | $27,967 | 12-31-2024 | $1.1M | $605,831 | $541,831 | $524,081 |
| October 2025 | $5.8M | Matured balloon, non-performing | 3.81% | 1.60 | 1.65 | 94% | $27,967 | 12-31-2024 | $1.1M | $605,831 | $541,831 | $524,081 |
| November 2025 | $5.8M | 30-59 days delinquent | 3.81% | 1.78 | 1.83 | 100% | $55,934 | 06-30-2025 | $600,035 | $292,623 | $307,412 | $298,537 |
| December 2025 | $5.8M | Matured balloon, non-performing | 3.81% | 1.78 | 1.83 | 100% | $27,967 | 06-30-2025 | $600,035 | $292,623 | $307,412 | $298,537 |
| January 2026 | $5.8M | Matured balloon, non-performing | 3.81% | 1.78 | 1.83 | 100% | $27,967 | 06-30-2025 | $600,035 | $292,623 | $307,412 | $298,537 |
| February 2026 | $5.8M | Current | 3.81% | 1.78 | 1.83 | 100% | $0 | 06-30-2025 | $600,035 | $292,623 | $307,412 | $298,537 |
| March 2026 | $5.8M | Current | 3.81% | 1.78 | 1.83 | 100% | $0 | 06-30-2025 | $600,035 | $292,623 | $307,412 | $298,537 |
| April 2026 | $5.8M | Current | 3.81% | 1.78 | 1.83 | 100% | $0 | 06-30-2025 | $600,035 | $292,623 | $307,412 | $298,537 |
| May 2026 | $5.7M | Current | 3.81% | 1.78 | 1.83 | 100% | $0 | 06-30-2025 | $600,035 | $292,623 | $307,412 | $298,537 |
| June 2026 | $5.7M | Current | 3.81% | 2.10 | 2.15 | 96% | $0 | 12-31-2025 | $1.2M | $507,647 | $721,595 | $703,845 |
| July 2026 | $5.7M | Current | 3.81% | 2.06 | 2.11 | 97% | $0 | 03-31-2026 | $335,188 | $158,132 | $177,056 | $172,619 |
| August 2026 | $5.7M | Current | 3.81% | 2.06 | 2.11 | 97% | $0 | 03-31-2026 | $335,188 | $158,132 | $177,056 | $172,619 |
| September 2026 | $5.7M | Matured balloon, non-performing | 3.81% | 2.13 | 2.18 | 94% | $27,967 | 06-30-2026 | $639,404 | $273,211 | $366,193 | $357,318 |
Revenue, expenses, net operating income (NOI) and net cash flow (NCF) are the most recent financials reported as of each month, for the financial period ending on the date shown. DSCR is debt service coverage on the net cash flow and net operating income bases as reported.
Status timeline
| Date | Event |
|---|---|
| 2024-08-12 | Defeasance recorded (first filing showing defeased status) |
| November 2025 | First reported 30 or more days delinquent |
Sources: SEC Form ABS-EE asset-level reports for the deal. Definitions are in the methods note on the market page.