Office · New York, New York
32-42 Broadway
Public CMBS trusts hold $125.0M of the loan on 32-42 Broadway at 3.25% that reaches maturity on November 6, 2030, in 4 years. As of the Sep 2026 and Oct 2026 servicer reports its status is current.
The loan
- Balance in tracked trusts
- $125,000,000
- Original balance (same notes)
- $125,000,000
- Interest rate
- 3.25% fixed
- Originated
- November 3, 2020
- Maturity
- November 6, 2030
- Payments
- Interest only for the full term
- Prepayment lockout ends
- August 5, 2030
- Master servicer
- Midland Loan Services
- Originator
- Citi Real Estate Funding Inc.
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 32-42 Broadway, New York, NY 10004
- Metro
- New York-Newark-Jersey City, NY-NJ
- Rentable area
- 521,573 sq ft
- Built
- 1889, renovated 2019
- Largest tenants
- CITY OF NY DEPT OF CONSUMER; CITY OF NY BOARD OF ELECTIONS; CITY OF NY DEPT OF CONSUMER i
- Value at securitization
- $243.0M (Aug 2020)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 2.99x | 1.59x |
| Occupancy | 91% | 76% |
| Net operating income (annualized from 6 months) | $12.3M | $13.2M |
| Debt yield | 10.6% |
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 2020-GSA2 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
- 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 91% when the loan was securitized to 76%.
- Net operating income is 8% above the underwritten figure ($13.2M a year against $12.3M; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 2.99x at securitization to 1.59x on the latest statements.
- The filing gives Sep 2027 as the lease end date for the largest tenant (CITY OF NY DEPT OF CONSUMER), before the loan matures. Lenders look hard at that rollover.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| October 2026 | $25.0M | Current | No | 1.59x | 76% |
| September 2026 | $125.0M | Current | No | 1.59x | 76% |
| August 2026 | $125.0M | Current | No | 1.53x | 73% |
| July 2026 | $125.0M | Current | No | 1.53x | 73% |
| June 2026 | $125.0M | Current | No | n/a | n/a |
| May 2026 | $125.0M | Current | No | n/a | n/a |
| April 2026 | $125.0M | Current | No | 1.54x | 100% |
| March 2026 | $125.0M | Current | No | 1.54x | 100% |
| February 2026 | $125.0M | Current | No | 1.64x | 68% |
| January 2026 | $125.0M | Current | No | 1.64x | 68% |
| December 2025 | $125.0M | Current | No | 1.64x | 68% |
| November 2025 | $125.0M | Current | No | 1.73x | 70% |
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
The loan is split into 3 notes held by different trusts. Each trust reports its own piece.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| Benchmark 2020-B21 Mortgage Trust | 4 | $75,000,000 | Sep 2026 | SEC filing, September 28, 2026 |
| GS Mortgage Securities Trust 2020-GSA2 | 12 | $25,000,000 | Oct 2026 | SEC filing, October 22, 2026 |
| Benchmark 2020-B22 Mortgage Trust | 13 | $25,000,000 | Sep 2026 | SEC filing, October 1, 2026 |
Other New York-Newark-Jersey City loans due in 2030
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| 711 Fifth Avenue | New York, NY | Mixed use | $545.0M | 3.16% | Mar 2030 | 2.71x | 66% | Current |
| Kings Plaza | Brooklyn, NY | Retail | $487.0M | 3.359% | Jan 2030 | 2.38x | 91% | Current |
| Grace Building | New York, NY | Office | $450.0M | 2.692% | Dec 2030 | n/a | n/a | Current |
| 545 Washington Boulevard | Jersey City, NJ | Office | $251.6M | 3.405% | Feb 2030 | 2.00x | 91% | Current |
| 605 Third Avenue | New York, NY | Office | $231.0M | 1.938% | Dec 2030 | 4.66x | 83% | Current |
| The Spiral | New York, NY | Office | $200.0M | 5.50% | Jan 2030 | n/a | n/a | Current |
| 250 West 57th Street | New York, NY | Office | $180.0M | 2.829% | Dec 2030 | 4.41x | 85% | Current |
| Mall at Bay Plaza | The Bronx, NY | Retail | $170.0M | 6.715% | Nov 2030 | n/a | n/a | Current |
All loans maturing in 2030 · All New York-Newark-Jersey City loans
Source: each trust's ABS-EE asset-data exhibit (Regulation AB Schedule AL) on SEC EDGAR, reporting periods ending September 11, 2026, October 6, 2026. Servicers report these figures; cmbs.news does not audit them. How this page is built.