Office · Washington, District of Columbia
425 Eye Street
Public CMBS trusts hold $102.2M of the loan on 425 Eye Street at 1.00% that reaches maturity on January 6, 2029, in 2 years and 2 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $102,218,000
- Original balance (same notes)
- $102,218,000
- Interest rate
- 1.00% fixed
- Originated
- December 7, 2021
- Maturity
- January 6, 2029
- Payments
- Interest only for the full term
- Prepayment lockout ends
- July 5, 2028
- Master servicer
- Trimont LLC
- Originator
- Goldman Sachs Bank USA
Status
- Payment status
- Current (code 0)
- Special servicing
- Transferred June 5, 2026, returned August 28, 2026
- Workout strategy
- Resolved
- Modified
- Yes, most recently July 31, 2026
- Defeasance
- None reported
The property
- Address
- 425 I Street Northwest, Washington, DC 20001
- Metro
- Washington-Arlington-Alexandria, DC-VA-MD-WV
- Rentable area
- 374,667 sq ft
- Built
- 1973, renovated 2018
- Largest tenants
- GSA; Fourth Street Dining dba Ottoman Taverna; Baan Siam Inc.
- Value at securitization
- $180.0M (Nov 2021)
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | 3.68x | 3.57x |
| Occupancy | 77% | 77% |
| Net operating income (annualized from 3 months) | $11.2M | $10.9M |
| 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 Benchmark 2022-B32 Mortgage Trust filing for the reporting period ending September 11, 2026, filed with the SEC September 28, 2026.
- Modified
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
- Debt service coverage moved from 3.68x at securitization to 3.57x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $102.2M | Late payment but less than 30 days delinquent | No | 3.57x | 77% |
| August 2026 | $102.2M | Late payment but less than 30 days delinquent | Yes | 3.57x | 77% |
| July 2026 | $102.2M | Current | Yes | 3.57x | 77% |
| June 2026 | $102.2M | Current | Yes | 3.57x | 77% |
| May 2026 | $102.2M | Current | No | 3.57x | 77% |
| April 2026 | $102.2M | Current | No | 3.49x | 77% |
| March 2026 | $102.2M | Current | No | 3.49x | 77% |
| February 2026 | $102.2M | Current | No | 3.49x | 77% |
| January 2026 | $102.2M | Current | No | 3.11x | 77% |
| December 2025 | $102.2M | Current | No | 3.11x | 77% |
| November 2025 | $102.2M | Current | No | 3.10x | 77% |
| October 2025 | $102.2M | Current | No | 3.10x | 77% |
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 June 5, 2026, returned to the master servicer August 28, 2026.
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
The loan is split into 2 notes held by different trusts. Each trust reports its own piece.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| GS Mortgage Securities Trust 2021-GSA3 | 1 | $62,400,000 | Sep 2026 | SEC filing, September 28, 2026 |
| Benchmark 2022-B32 Mortgage Trust | 17 | $39,818,000 | Sep 2026 | SEC filing, September 28, 2026 |
Other Washington-Arlington-Alexandria loans due in 2029
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Parklawn Building | Rockville, MD | Office | $261.6M | 3.398% | Nov 2029 | 2.79x | 73% | Current |
| 1812 North Moore | Arlington, VA | Office | $172.7M | 7.53% | May 2029 | 0.96x | 99% | Late, less than 30 days |
| Uline Arena | Washington, DC | Mixed use | $120.0M | 4.04% | Aug 2029 | 1.68x | 94% | Current |
| 2001 K Street | Washington, DC | Office | $95.0M | 7.388% | May 2029 | 1.43x | 97% | Current |
| Tysons Corner Center - Office Tower | McLean, VA | Office | $95.0M | 3.33% | Oct 2029 | n/a | n/a | Current |
| Potomac Tower | Arlington, VA | Office | $84.0M | 7.60% | Sep 2029 | 1.66x | 100% | Current |
| Powered Shell Portfolio - Manassas DC-18 | Manassas, VA | Industrial | $83.8M | 3.637% | Jul 2029 | n/a | n/a | Current |
| Watergate Office Building | Washington DC, DC | Office | $73.0M | 3.73% | Oct 2029 | 1.91x | 100% | Current |
All loans maturing in 2029 · All Washington-Arlington-Alexandria 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.