← GS Mortgage Securities Trust 2019-GC38 · Loan annex · CMBS market
- Deal
- GS Mortgage Securities Trust 2019-GC38
- Current balance
- $34.0M (September 2026)
- Share of deal
- 5.1%
- Status
- Current
- DSCR (latest)
- 0.76
- Occupancy (latest)
- 48%
- Scheduled maturity
- 2028-12-06
Property and terms
| Property | 3 PARK AVENUE |
| Address | 3 PARK AVENUE; New York, NY 10016 |
| Property type | Office |
| Units, beds or keys | not yet reported |
| Net rentable square feet | 667,446 |
| Year built | 1977 |
| Year last renovated | 2001 |
| Original balance | $34.0M |
| Current balance | $34.0M (September 2026) |
| Share of deal balance | 5.1% |
| Interest rate at origination | 4.75% |
| Current interest rate | 4.75% |
| Origination date | 11-30-2018 |
| Original term | 120 months |
| Amortization term | not yet reported |
| Interest-only period | 120 months |
| Scheduled maturity | 2028-12-06 |
| Prepayment lockout end | 06-05-2028 |
| Yield maintenance end | not yet reported |
| Servicer | Trimont LLC |
| Loan servicer | not yet reported |
| Originator | Citi Real Estate Funding Inc. |
| Current status | Current |
| Specially serviced now | No |
| Defeased | No |
Valuation
| Basis | Amount | Date | Source (as filed) |
|---|---|---|---|
| At securitization | $505.0M | 10-25-2018 | MAI |
Largest tenants
| Tenant | Square feet | Lease expiration |
|---|---|---|
| HOUGHTON MIFFLIN | 64,490 | 12-31-2027 |
| P. KAUFMANN (2ND AMEND 5/1/13) | 46,000 | 12-31-2030 |
| Houghton Industries LLC | 36,932 | 12-31-2027 |
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 2019 | $34.0M | Current | 4.75% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | $16.6M | not yet reported | not yet reported |
| March 2019 | $34.0M | Current | 4.75% | 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 2019 | $34.0M | Current | 4.75% | 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 2019 | $34.0M | Current | 4.75% | 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 2019 | $34.0M | Current | 4.75% | 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 2019 | $34.0M | Current | 4.75% | 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 2019 | $34.0M | Current | 4.75% | 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 2019 | $34.0M | Current | 4.75% | 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 2019 | $34.0M | Current | 4.75% | 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 |
| November 2019 | $34.0M | Current | 4.75% | 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 |
| December 2019 | $34.0M | Current | 4.75% | 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 |
| January 2020 | $34.0M | Current | 4.75% | 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 |
| February 2020 | $34.0M | Current | 4.75% | 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 2020 | $34.0M | Current | 4.75% | 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 2020 | $34.0M | Matured balloon, non-performing | 4.75% | not yet reported | not yet reported | not yet reported | $138,960 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| May 2020 | $34.0M | Matured balloon, non-performing | 4.75% | not yet reported | not yet reported | not yet reported | $134,477 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| June 2020 | $34.0M | 30-59 days delinquent | 4.75% | 1.77 | 2.02 | 85% | $273,437 | 12-31-2019 | $35.0M | $17.3M | $17.7M | $15.5M |
| July 2020 | $34.0M | 60-89 days delinquent | 4.75% | 1.77 | 2.02 | 85% | $407,914 | 12-31-2019 | $35.0M | $17.3M | $17.7M | $15.5M |
| August 2020 | $34.0M | 60-89 days delinquent | 4.75% | 1.77 | 2.02 | 85% | $412,396 | 12-31-2019 | $35.0M | $17.3M | $17.7M | $15.5M |
| September 2020 | $34.0M | 30-59 days delinquent | 4.75% | 1.77 | 2.02 | 85% | $277,919 | 12-31-2019 | $35.0M | $17.3M | $17.7M | $15.5M |
| October 2020 | $34.0M | 30-59 days delinquent | 4.75% | 1.77 | 2.02 | 85% | $273,437 | 12-31-2019 | $35.0M | $17.3M | $17.7M | $15.5M |
| November 2020 | $34.0M | Current | 4.75% | 1.96 | 2.34 | 64% | $0 | 06-30-2020 | $13.6M | $6.8M | $6.8M | $5.8M |
| December 2020 | $34.0M | Current | 4.75% | 1.96 | 2.34 | 64% | $0 | 06-30-2020 | $13.6M | $6.8M | $6.8M | $5.8M |
| January 2021 | $34.0M | Matured balloon, non-performing | 4.75% | 1.96 | 2.34 | 64% | $138,960 | 06-30-2020 | $13.6M | $6.8M | $6.8M | $5.8M |
| February 2021 | $34.0M | Matured balloon, non-performing | 4.75% | 1.23 | 1.48 | 62% | $138,960 | 09-30-2020 | $19.9M | $10.2M | $9.7M | $8.1M |
| March 2021 | $34.0M | 30-59 days delinquent | 4.75% | 1.23 | 1.48 | 62% | $264,472 | 09-30-2020 | $19.9M | $10.2M | $9.7M | $8.1M |
| April 2021 | $34.0M | 30-59 days delinquent | 4.75% | 1.23 | 1.48 | 62% | $264,472 | 09-30-2020 | $19.9M | $10.2M | $9.7M | $8.1M |
| May 2021 | $34.0M | 30-59 days delinquent | 4.75% | 1.23 | 1.48 | 62% | $398,949 | 09-30-2020 | $19.9M | $10.2M | $9.7M | $8.1M |
| June 2021 | $34.0M | 30-59 days delinquent | 4.75% | 1.23 | 1.48 | 62% | $273,437 | 09-30-2020 | $19.9M | $10.2M | $9.7M | $8.1M |
| July 2021 | $34.0M | 30-59 days delinquent | 4.75% | 1.23 | 1.48 | 62% | $273,437 | 09-30-2020 | $19.9M | $10.2M | $9.7M | $8.1M |
| August 2021 | $34.0M | 30-59 days delinquent | 4.75% | 1.23 | 1.48 | 62% | $273,437 | 09-30-2020 | $19.9M | $10.2M | $9.7M | $8.1M |
| September 2021 | $34.0M | 30-59 days delinquent | 4.75% | 1.23 | 1.48 | 62% | $277,919 | 09-30-2020 | $19.9M | $10.2M | $9.7M | $8.1M |
| October 2021 | $34.0M | 30-59 days delinquent | 4.75% | 1.23 | 1.48 | 62% | $273,437 | 09-30-2020 | $19.9M | $10.2M | $9.7M | $8.1M |
| November 2021 | $34.0M | Matured balloon, non-performing | 4.75% | 0.71 | 0.95 | 60% | $138,960 | 06-30-2021 | $11.2M | $7.1M | $4.2M | $3.1M |
| December 2021 | $34.0M | Current | 4.75% | 0.71 | 0.95 | 60% | $0 | 06-30-2021 | $11.2M | $7.1M | $4.2M | $3.1M |
| January 2022 | $34.0M | Current | 4.75% | 0.71 | 0.95 | 60% | $0 | 06-30-2021 | $11.2M | $7.1M | $4.2M | $3.1M |
| February 2022 | $34.0M | Matured balloon, non-performing | 4.75% | 0.66 | 0.90 | 60% | $138,960 | 09-30-2021 | $17.0M | $11.1M | $6.0M | $4.3M |
| March 2022 | $34.0M | Current | 4.75% | 0.66 | 0.90 | 60% | $0 | 09-30-2021 | $17.0M | $11.1M | $6.0M | $4.3M |
| April 2022 | $34.0M | Current | 4.75% | 0.66 | 0.90 | 60% | $0 | 09-30-2021 | $17.0M | $11.1M | $6.0M | $4.3M |
| May 2022 | $34.0M | Current | 4.75% | 0.97 | 1.22 | 58% | $0 | 12-31-2021 | $24.7M | $14.0M | $10.7M | $8.5M |
| June 2022 | $34.0M | Matured balloon, non-performing | 4.75% | 0.97 | 1.22 | 58% | $138,960 | 12-31-2021 | $24.7M | $14.0M | $10.7M | $8.5M |
| July 2022 | $34.0M | Current | 4.75% | 0.97 | 1.22 | 58% | $0 | 12-31-2021 | $24.7M | $14.0M | $10.7M | $8.5M |
| August 2022 | $34.0M | Current | 4.75% | 0.97 | 1.22 | 58% | $0 | 12-31-2021 | $24.7M | $14.0M | $10.7M | $8.5M |
| September 2022 | $34.0M | Current | 4.75% | 0.08 | 0.33 | 59% | $0 | 03-31-2022 | $4.2M | $3.4M | $717,625 | $174,447 |
| October 2022 | $34.0M | Current | 4.75% | 0.08 | 0.33 | 59% | $0 | 03-31-2022 | $4.2M | $3.4M | $717,625 | $174,447 |
| November 2022 | $34.0M | Current | 4.75% | 0.08 | 0.33 | 59% | $0 | 03-31-2022 | $4.2M | $3.4M | $717,625 | $174,447 |
| December 2022 | $34.0M | Current | 4.75% | 0.57 | 0.81 | 58% | $0 | 06-30-2022 | $10.6M | $7.0M | $3.6M | $2.5M |
| January 2023 | $34.0M | Current | 4.75% | 0.58 | 0.83 | 58% | $0 | 09-30-2022 | $16.3M | $10.8M | $5.4M | $3.8M |
| February 2023 | $34.0M | Current | 4.75% | 0.58 | 0.83 | 58% | $0 | 09-30-2022 | $16.3M | $10.8M | $5.4M | $3.8M |
| March 2023 | $34.0M | Matured balloon, non-performing | 4.75% | 0.58 | 0.83 | 58% | $125,512 | 09-30-2022 | $16.3M | $10.8M | $5.4M | $3.8M |
| April 2023 | $34.0M | 30-59 days delinquent | 4.75% | 0.58 | 0.83 | 58% | $264,472 | 09-30-2022 | $16.3M | $10.8M | $5.4M | $3.8M |
| May 2023 | $34.0M | 30-59 days delinquent | 4.75% | 0.58 | 0.83 | 58% | $273,437 | 09-30-2022 | $16.3M | $10.8M | $5.4M | $3.8M |
| June 2023 | $34.0M | 30-59 days delinquent | 4.75% | 0.56 | 0.81 | 53% | $273,437 | 12-31-2022 | $21.7M | $14.6M | $7.1M | $4.9M |
| July 2023 | $34.0M | 30-59 days delinquent | 4.75% | 0.56 | 0.81 | 53% | $273,437 | 12-31-2022 | $21.7M | $14.6M | $7.1M | $4.9M |
| August 2023 | $34.0M | 30-59 days delinquent | 4.75% | 0.56 | 0.81 | 53% | $273,437 | 12-31-2022 | $21.7M | $14.6M | $7.1M | $4.9M |
| September 2023 | $34.0M | 30-59 days delinquent | 4.75% | 0.85 | 1.10 | 54% | $277,919 | 03-31-2023 | $5.6M | $3.2M | $2.4M | $1.9M |
| October 2023 | $34.0M | 60-89 days delinquent | 4.75% | 0.82 | 1.07 | 54% | $412,396 | 06-30-2023 | $11.0M | $6.3M | $4.7M | $3.6M |
| November 2023 | $34.0M | 30-59 days delinquent | 4.75% | 0.82 | 1.07 | 54% | $273,437 | 06-30-2023 | $11.0M | $6.3M | $4.7M | $3.6M |
| December 2023 | $34.0M | Matured balloon, non-performing | 4.75% | 0.82 | 1.07 | 54% | $134,477 | 06-30-2023 | $11.0M | $6.3M | $4.7M | $3.6M |
| January 2024 | $34.0M | 30-59 days delinquent | 4.75% | 0.74 | 0.99 | 59% | $273,437 | 09-30-2023 | $16.1M | $9.6M | $6.5M | $4.9M |
| February 2024 | $34.0M | Current | 4.75% | 0.74 | 0.99 | 59% | $0 | 09-30-2023 | $16.1M | $9.6M | $6.5M | $4.9M |
| March 2024 | $34.0M | Current | 4.75% | 0.74 | 0.99 | 59% | $0 | 09-30-2023 | $16.1M | $9.6M | $6.5M | $4.9M |
| April 2024 | $34.0M | Current | 4.75% | 0.67 | 0.91 | 54% | $0 | 12-31-2023 | $21.4M | $13.4M | $8.0M | $5.8M |
| May 2024 | $34.0M | Current | 4.75% | 0.67 | 0.91 | 54% | $0 | 12-31-2023 | $21.4M | $13.4M | $8.0M | $5.8M |
| June 2024 | $34.0M | Current | 4.75% | 0.67 | 0.91 | 54% | $0 | 12-31-2023 | $21.4M | $13.4M | $8.0M | $5.8M |
| July 2024 | $34.0M | Current | 4.75% | 1.16 | 1.41 | 54% | $0 | 03-31-2024 | $6.5M | $3.4M | $3.1M | $2.5M |
| August 2024 | $34.0M | Current | 4.75% | 1.16 | 1.41 | 54% | $0 | 03-31-2024 | $6.5M | $3.4M | $3.1M | $2.5M |
| September 2024 | $34.0M | Current | 4.75% | 1.16 | 1.41 | 54% | $0 | 03-31-2024 | $6.5M | $3.4M | $3.1M | $2.5M |
| October 2024 | $34.0M | Matured balloon, non-performing | 4.75% | 1.16 | 1.41 | 54% | $134,477 | 03-31-2024 | $6.5M | $3.4M | $3.1M | $2.5M |
| November 2024 | $34.0M | Matured balloon, non-performing | 4.75% | 0.80 | 1.04 | 52% | $138,960 | 06-30-2024 | $11.3M | $6.7M | $4.6M | $3.5M |
| December 2024 | $34.0M | Matured balloon, non-performing | 4.75% | 0.80 | 1.04 | 52% | $134,477 | 06-30-2024 | $11.3M | $6.7M | $4.6M | $3.5M |
| January 2025 | $34.0M | Matured balloon, non-performing | 4.75% | 0.80 | 1.04 | 52% | $138,960 | 06-30-2024 | $11.3M | $6.7M | $4.6M | $3.5M |
| February 2025 | $34.0M | Matured balloon, non-performing | 4.75% | 0.80 | 1.04 | 52% | $138,960 | 06-30-2024 | $11.3M | $6.7M | $4.6M | $3.5M |
| March 2025 | $34.0M | Matured balloon, non-performing | 4.75% | 2.34 | 2.34 | 51% | $125,512 | 09-30-2024 | $22.4M | $12.2M | $10.1M | $10.1M |
| April 2025 | $34.0M | Matured balloon, non-performing | 4.75% | 2.50 | 3.13 | 51% | $138,960 | 12-31-2024 | $23.0M | $12.2M | $10.8M | $8.6M |
| May 2025 | $34.0M | Matured balloon, non-performing | 4.75% | 2.50 | 3.13 | 51% | $134,477 | 12-31-2024 | $23.0M | $12.2M | $10.8M | $8.6M |
| June 2025 | $34.0M | Matured balloon, non-performing | 4.75% | 2.50 | 3.13 | 51% | $138,960 | 12-31-2024 | $23.0M | $12.2M | $10.8M | $8.6M |
| July 2025 | $34.0M | Matured balloon, non-performing | 4.75% | 2.50 | 3.13 | 51% | $134,477 | 12-31-2024 | $23.0M | $12.2M | $10.8M | $8.6M |
| August 2025 | $34.0M | Matured balloon, non-performing | 4.75% | 2.50 | 3.13 | 51% | $138,960 | 12-31-2024 | $23.0M | $12.2M | $10.8M | $8.6M |
| September 2025 | $34.0M | Matured balloon, non-performing | 4.75% | 2.50 | 3.13 | 51% | $138,960 | 12-31-2024 | $23.0M | $12.2M | $10.8M | $8.6M |
| October 2025 | $34.0M | Matured balloon, non-performing | 4.75% | 2.50 | 3.13 | 51% | $134,477 | 12-31-2024 | $23.0M | $12.2M | $10.8M | $8.6M |
| November 2025 | $34.0M | Matured balloon, non-performing | 4.75% | 2.50 | 3.13 | 51% | $138,960 | 12-31-2024 | $23.0M | $12.2M | $10.8M | $8.6M |
| December 2025 | $34.0M | Matured balloon, non-performing | 4.75% | 0.67 | 0.67 | 51% | $134,477 | 06-30-2025 | $21.5M | $15.5M | $6.0M | $6.0M |
| January 2026 | $34.0M | Matured balloon, non-performing | 4.75% | 0.67 | 0.67 | 51% | $138,960 | 06-30-2025 | $21.5M | $15.5M | $6.0M | $6.0M |
| February 2026 | $34.0M | Matured balloon, non-performing | 4.75% | 0.81 | 0.81 | 47% | $138,960 | 09-30-2025 | $21.6M | $14.3M | $7.2M | $7.2M |
| March 2026 | $34.0M | Matured balloon, non-performing | 4.75% | 0.81 | 0.81 | 47% | $125,512 | 09-30-2025 | $21.6M | $14.3M | $7.2M | $7.2M |
| April 2026 | $34.0M | Matured balloon, non-performing | 4.75% | 0.76 | 0.76 | 48% | $138,960 | 12-31-2025 | $21.7M | $14.9M | $6.8M | $6.8M |
| May 2026 | $34.0M | Matured balloon, non-performing | 4.75% | 0.76 | 0.76 | 48% | $134,477 | 12-31-2025 | $21.7M | $14.9M | $6.8M | $6.8M |
| June 2026 | $34.0M | Matured balloon, non-performing | 4.75% | 0.76 | 0.76 | 48% | $138,960 | 12-31-2025 | $21.7M | $14.9M | $6.8M | $6.8M |
| July 2026 | $34.0M | Matured balloon, non-performing | 4.75% | 0.76 | 0.76 | 48% | $134,477 | 12-31-2025 | $21.7M | $14.9M | $6.8M | $6.8M |
| August 2026 | $34.0M | Current | 4.75% | 0.76 | 0.76 | 48% | $0 | 12-31-2025 | $21.7M | $14.9M | $6.8M | $6.8M |
| September 2026 | $34.0M | Current | 4.75% | 0.76 | 0.76 | 48% | $0 | 12-31-2025 | $21.7M | $14.9M | $6.8M | $6.8M |
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 |
|---|---|
| June 2020 | First reported 30 or more days delinquent |
| 2024-09-12 | Transferred to the special servicer |
| 2026-07-08 | 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: Benchmark 2019-B10 Mortgage Trust; Benchmark 2019-B9 Mortgage Trust (segment D01, CIK 1764759); CSAIL 2017-CX10 Commercial Mortgage Trust (segment D02, CIK 1720474).
Sources: SEC Form ABS-EE asset-level reports for the deal. Definitions are in the methods note on the market page.