← Benchmark 2022-B32 Mortgage Trust · Loan annex · CMBS market
- Deal
- Benchmark 2022-B32 Mortgage Trust
- Current balance
- $39.8M (September 2026)
- Share of deal
- 2.3%
- Status
- Matured balloon, non-performing
- DSCR (latest)
- not yet reported
- Occupancy (latest)
- not yet reported
- Scheduled maturity
- 2029-01-06
Property and terms
| Property | 425 Eye Street |
| Address | 425 I Street NW; Washington, DC 20001 |
| Property type | Office |
| Units, beds or keys | not yet reported |
| Net rentable square feet | 374,667 |
| Year built | 1973 |
| Year last renovated | 2018 |
| Original balance | $39.8M |
| Current balance | $39.8M (September 2026) |
| Share of deal balance | 2.3% |
| Interest rate at origination | 2.94% |
| Current interest rate | 1.00% |
| Origination date | 12-07-2021 |
| Original term | 84 months |
| Amortization term | not yet reported |
| Interest-only period | 84 months |
| Scheduled maturity | 2029-01-06 |
| Prepayment lockout end | 07-05-2028 |
| Yield maintenance end | not yet reported |
| Servicer | Wells Fargo |
| Loan servicer | not yet reported |
| Originator | Goldman Sachs Bank USA |
| Current status | Matured balloon, non-performing |
| Specially serviced now | No |
| Defeased | No |
Valuation
| Basis | Amount | Date | Source (as filed) |
|---|---|---|---|
| At securitization | $180.0M | 11-09-2021 | MAI |
| Most recent reported | $180.0M | 2021-11-09 | MAI |
Change from securitization to the most recent reported valuation: 0.0%.
Largest tenants
| Tenant | Square feet | Lease expiration |
|---|---|---|
| GSA - VA | 241,398 | 06-06-2026 |
| GSA -Medicare | 14,217 | 08-07-2037 |
| Fourth Street Dining Inc. | 7,951 | 07-20-2036 |
The three largest tenants as reported in the latest asset-level record.
Monthly history
| Month | Balance | Status | Rate | DSCR (NCF) | DSCR (NOI) | Occupancy | Advances | Financial period end | Revenue | Expenses | NOI | NCF |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| February 2022 | $39.8M | Current | 2.94% | 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 2022 | $39.8M | Current | 2.94% | 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 2022 | $39.8M | Matured balloon, non-performing | 2.94% | not yet reported | not yet reported | not yet reported | $100,754 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| May 2022 | $39.8M | Current | 2.94% | 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 2022 | $39.8M | Current | 2.94% | 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 |
| July 2022 | $39.8M | Current | 2.94% | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| August 2022 | $39.8M | Current | 2.94% | 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 2022 | $39.8M | Current | 2.94% | 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 |
| October 2022 | $39.8M | Current | 2.94% | 6.40 | 6.44 | 77% | $0 | 06-30-2022 | $17.9M | $6.0M | $11.9M | $11.8M |
| November 2022 | $39.8M | Current | 2.94% | 6.40 | 6.44 | 77% | $0 | 06-30-2022 | $17.9M | $6.0M | $11.9M | $11.8M |
| December 2022 | $39.8M | Current | 2.94% | 6.40 | 6.44 | 77% | $0 | 06-30-2022 | $17.9M | $6.0M | $11.9M | $11.8M |
| January 2023 | $39.8M | Matured balloon, non-performing | 2.94% | 6.16 | 6.20 | 77% | $100,754 | 09-30-2022 | $17.5M | $6.0M | $11.5M | $11.4M |
| February 2023 | $39.8M | Matured balloon, non-performing | 2.94% | 6.16 | 6.20 | 77% | $100,754 | 09-30-2022 | $17.5M | $6.0M | $11.5M | $11.4M |
| March 2023 | $39.8M | Current | 2.94% | 6.16 | 6.20 | 77% | $0 | 09-30-2022 | $17.5M | $6.0M | $11.5M | $11.4M |
| April 2023 | $39.8M | Matured balloon, non-performing | 2.94% | 6.16 | 6.20 | 77% | $100,754 | 09-30-2022 | $17.5M | $6.0M | $11.5M | $11.4M |
| May 2023 | $39.8M | Matured balloon, non-performing | 2.94% | not yet reported | not yet reported | not yet reported | $97,504 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| June 2023 | $39.8M | Matured balloon, non-performing | 2.94% | not yet reported | not yet reported | not yet reported | $100,754 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| July 2023 | $39.8M | Current | 2.94% | 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 |
| August 2023 | $39.8M | Current | 2.94% | 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 2023 | $39.8M | Current | 2.94% | 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 |
| October 2023 | $39.8M | Current | 2.94% | 6.20 | 6.24 | 77% | $0 | 06-30-2023 | $17.5M | $5.9M | $11.6M | $11.5M |
| November 2023 | $39.8M | Current | 2.94% | 6.20 | 6.24 | 77% | $0 | 06-30-2023 | $17.5M | $5.9M | $11.6M | $11.5M |
| December 2023 | $26.0M | Current | 3.45% | 2.33 | 2.38 | 100% | $0 | 09-30-2023 | $3.3M | $1.2M | $2.2M | $2.1M |
| January 2024 | $39.8M | Matured balloon, non-performing | 2.94% | 6.09 | 6.13 | 77% | $100,754 | 09-30-2023 | $17.4M | $6.0M | $11.4M | $11.3M |
| February 2024 | $39.8M | Current | 2.94% | 6.09 | 6.13 | 77% | $0 | 09-30-2023 | $17.4M | $6.0M | $11.4M | $11.3M |
| March 2024 | $39.8M | Current | 2.94% | 6.33 | 6.37 | not yet reported | $0 | 12-31-2023 | $17.8M | $5.9M | $11.8M | $11.8M |
| April 2024 | $39.8M | Current | 2.94% | 6.33 | 6.37 | not yet reported | $0 | 12-31-2023 | $17.8M | $5.9M | $11.8M | $11.8M |
| May 2024 | $39.8M | Current | 2.94% | 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 2024 | $39.8M | Current | 2.94% | 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 |
| July 2024 | $39.8M | Current | 2.94% | 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 |
| August 2024 | $39.8M | Current | 2.94% | 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 | $39.8M | Current | 2.94% | 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 |
| October 2024 | $39.8M | Current | 2.94% | 3.53 | 3.56 | not yet reported | $0 | 06-30-2024 | $16.8M | $6.0M | $10.8M | $10.7M |
| November 2024 | $39.8M | Current | 2.94% | 3.53 | 3.56 | not yet reported | $0 | 06-30-2024 | $16.8M | $6.0M | $10.8M | $10.7M |
| December 2024 | $39.8M | Current | 2.94% | 3.53 | 3.56 | not yet reported | $0 | 06-30-2024 | $16.8M | $6.0M | $10.8M | $10.7M |
| January 2025 | $39.8M | Current | 2.94% | 3.53 | 3.56 | 77% | $0 | 09-30-2024 | $16.8M | $6.0M | $10.9M | $10.8M |
| February 2025 | $39.8M | Matured balloon, non-performing | 2.94% | 3.53 | 3.56 | 77% | $100,754 | 09-30-2024 | $16.8M | $6.0M | $10.9M | $10.8M |
| March 2025 | $39.8M | Current | 2.94% | 3.53 | 3.56 | 77% | $0 | 09-30-2024 | $16.8M | $6.0M | $10.9M | $10.8M |
| April 2025 | $39.8M | Matured balloon, non-performing | 2.94% | 3.33 | 3.35 | 77% | $100,754 | 12-31-2024 | $17.3M | $7.1M | $10.2M | $10.2M |
| May 2025 | $39.8M | Current | 2.94% | 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 2025 | $39.8M | Current | 2.94% | 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 |
| July 2025 | $39.8M | Current | 2.94% | 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 |
| August 2025 | $39.8M | Current | 2.94% | 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 2025 | $39.8M | Current | 2.94% | 3.08 | 3.10 | 77% | $0 | 06-30-2025 | $16.8M | $7.4M | $9.4M | $9.4M |
| October 2025 | $39.8M | Current | 2.94% | 3.08 | 3.10 | 77% | $0 | 06-30-2025 | $16.8M | $7.4M | $9.4M | $9.4M |
| November 2025 | $39.8M | Current | 2.94% | 3.08 | 3.10 | 77% | $0 | 06-30-2025 | $16.8M | $7.4M | $9.4M | $9.4M |
| December 2025 | $39.8M | Current | 2.94% | 3.09 | 3.11 | 77% | $0 | 09-30-2025 | $16.9M | $7.4M | $9.5M | $9.4M |
| January 2026 | $39.8M | Current | 2.94% | 3.09 | 3.11 | 77% | $0 | 09-30-2025 | $16.9M | $7.4M | $9.5M | $9.4M |
| February 2026 | $39.8M | Current | 2.94% | 3.09 | 3.11 | 77% | $0 | 09-30-2025 | $16.9M | $7.4M | $9.5M | $9.4M |
| March 2026 | $39.8M | Current | 2.94% | 3.47 | 3.49 | 77% | $0 | 12-31-2025 | $16.9M | $6.2M | $10.6M | $10.6M |
| April 2026 | $39.8M | Current | 2.94% | 3.47 | 3.49 | 77% | $0 | 12-31-2025 | $16.9M | $6.2M | $10.6M | $10.6M |
| May 2026 | $39.8M | Current | 2.94% | 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 2026 | $39.8M | Current | 2.94% | 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 |
| July 2026 | $39.8M | Current | 2.94% | 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 |
| August 2026 | $39.8M | Matured balloon, non-performing | 1.00% | not yet reported | not yet reported | not yet reported | $34,202 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| September 2026 | $39.8M | Matured balloon, non-performing | 1.00% | not yet reported | not yet reported | not yet reported | $34,202 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
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 |
|---|---|
| 2026-06-05 | Transferred to the special servicer |
| 2026-07-31 | Loan modified (rate after modification 0.00%; maturity after modification 2029-01-06) |
| 2026-08-28 | Returned to the master servicer |
Also filed in other trusts
Loans are sometimes split across trusts (pari passu), and each trust files the loan at its whole-loan amount. A loan with the same property name and origination date is filed in: GS Mortgage Securities Trust 2021-GSA3.
Sources: SEC Form ABS-EE asset-level reports for the deal. Definitions are in the methods note on the market page.