IMPORTANT NOTICE REGARDING THE CONDITIONS FOR THIS OFFERING OF ASSET-BACKED SECURITIES

The securities offered by these materials are being offered when, as and if issued. In particular, you are advised that the offered securities, and the asset pool backing them, are subject to modification or revision (including, among other things, the possibility that one or more classes of securities may be split, combined or eliminated) at any time prior to issuance or availability of a final prospectus.

STATEMENT REGARDING THIS FREE WRITING PROSPECTUS

The depositor has filed a registration statement (including the prospectus) with the Securities and Exchange Commission (“SEC”) (SEC File No. 333-261764) for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, the depositor or Goldman Sachs & Co. LLC, Citigroup Global Markets Inc., Deutsche Bank Securities Inc., BMO Capital Markets Corp., Barclays Capital Inc., Academy Securities, Inc., and CastleOak Securities, L.P., any other underwriter, or any dealer participating in this offering will arrange to send you the prospectus if you request it by calling toll-free 1-866-471-2526 or if you email a request to prospectus-ny@gs.com.

IMPORTANT NOTICE RELATING TO AUTOMATICALLY GENERATED EMAIL DISCLAIMERS

Any legends, disclaimers or other notices that may appear at the bottom of the email communication to which this free writing prospectus is attached relating to (1) these materials not constituting an offer (or a solicitation of an offer), (2) the fact that there is no representation being made that these materials are accurate or complete and that these materials may not be updated or (3) these materials possibly being confidential, are, in each case, not applicable to these materials and should be disregarded. Such legends, disclaimers or other notices have been automatically generated as a result of these materials having been sent via Bloomberg or another system.

Footnotes to Annex A-1

(1)	The Administrative Fee Rate % includes the Servicing Fee Rate, the Operating Advisor Fee Rate, the Certificate Administrator/Trustee Fee Rate, the Asset Representations Reviewer Fee Rate and the CREFC^® Intellectual Property Royalty License Fee Rate applicable to each Mortgage Loan.

(2)	The Monthly Debt Service (P&I) and Annual Debt Service (P&I) ($) shown for Mortgage Loans with a partial interest-only period reflects the amount payable after the expiration of the interest-only period.

(3)	The open period is inclusive of the Maturity Date or Anticipated Repayment Date.

(4)	Underwritten NOI DSCR (x), Underwritten NCF DSCR (x), Whole Loan Underwritten NCF DSCR (x) and Total Debt Underwritten NCF DSCR (x) is calculated based on amortizing debt service payments (except for interest-only loans).

(5)	Leased Occupancy (%) reflects tenants that have signed leases, but are not yet in occupancy or may not be paying rent.

(6)	The lease expirations shown are based on full lease terms; however, in some instances, the tenant may have the option to terminate its lease prior to the expiration date shown. In addition, in some instances, a tenant may have the right to assign its lease or sublease the leased premises and be released from its obligations under the lease.

(7)	Property Located Within a Qualified Opportunity Zone (Y/N) reflects Mortgaged Properties that are located in qualified opportunity zones ("QOZs") under Internal Revenue Code § 1400Z-2 - Notice 2018-48 and Notice 2019-42. According to the Internal Revenue Service, (1) a QOZ is an economically distressed community where new investments, under certain conditions, may be eligible for preferential tax treatment, and (2) localities qualify as QOZs if they have been nominated for that designation by a state, the District of Columbia, or a U.S. territory and that nomination has been certified by the Secretary of the Treasury via his delegation of authority to the Internal Revenue Service. No representation is made as to whether any Mortgaged Properties located in QOZs or the related borrowers are eligible for such preferential tax treatment or whether any qualifying investment has been made in a QOZ.

(8)	If the purpose of the Mortgage Loan was to finance an acquisition of the Mortgaged Property, the field "Sources: Principal's New Cash Contribution ($)" reflects the cash investment by one or more of the equity owners in the borrower in connection with such acquisition. If the purpose of the Mortgage Loan was to refinance the Mortgaged Property, the field "Sources: Principal's New Cash Contribution ($)" reflects the cash contributed to the borrower by one or more of the equity owners at the time the Mortgage Loan was originated.

(9)	The Mortgage Loan is part of a whole loan structure. Cut-off Date LTV Ratio (%), LTV Ratio at Maturity / ARD (%), Underwritten NOI DSCR (x), Underwritten NCF DSCR (x), Underwritten NOI Debt Yield (%), Underwritten NCF Debt Yield (%) and Loan Per Unit ($) calculations are based on the Mortgage Loan and any related Pari Passu Companion Loans, if applicable, but exclude any related Subordinate Companion Loans.

(10)	Defeasance of the Stonebriar Centre Whole Loan is permitted at any time after the earlier of (i) July 1, 2027 and (ii) two years from the closing date of the securitization that includes the last pari passu note of the Stonebriar Centre Whole Loan to be securitized. The assumed lockout period of 25 payments is based on the expected Benchmark 2024-V9 securitization closing date in August 2024. The actual lockout period may be longer.

(11)	Other Reserves consist of an Upfront Rollover Reserve ($11,720,606) and an Upfront Gap Rent Reserve ($756,921). The borrowers funded $10,449,929 into such reserves at origination, with the remaining $2,027,598 being guaranteed by the borrower sponsors.

(12)	During the continuance of a reserve trigger period or cash management period, the borrower is required to deposit $18,281.33 each month as the replacement reserve monthly deposit, which monthly deposit will be suspended during any period when the amount on deposit equals or exceeds $438,752.00.

(13)	The borrower is required to deposit $91,406.67 each month as the rollover reserve monthly deposit, which monthly deposit will be suspended during any period when the amount on deposit equals or exceeds $2,193,760.00. During the continuance of a reserve trigger period or cash management period, if sufficient funds are available pursuant to the Stonebriar Centre Whole Loan cash management agreement, then no actual rollover reserve monthly deposit will be required.

(14)	If an anchor trigger event has occurred with respect to any single anchor tenant, the borrower is required to make a monthly deposit an amount equal to all initial excess cash flow with respect to any particular interest period, which monthly deposit will be suspended to the extent the Individual Anchor Threshold Amount, which is an amount equal to the product obtained by multiplying (x) $50 by (y) the aggregate amount of gross leasable square footage of the applicable Anchor Parcel, has been deposited for any such anchor tenant trigger event then continuing.

(15)	The Churchill Portfolio is a 29-property portfolio consisting of 18 manufactured housing Mortgaged Properties with 2,605 pads representing 80.5% of Net Operating Income and 11 self storage Mortgaged Properties with 4,649 Units equating to 798,392 SF representing 19.5% of Net Operating Income.

(16)	Approximately 242 of the 2,605 manufactured housing pads at the Churchill Portfolio Properties are occupied by manufactured homes (the “Owned Mobile Homes”) that are owned by an affiliate of the borrower (the “Churchill Master Tenant”). The borrower leases the pads occupied by the Owned Mobile Homes to the Churchill Master Tenant under a master lease (the “Churchill Master Lease”) and the Churchill Master Tenant leases the Owned Mobile Homes to the occupants of such Owned Mobile Homes. The Churchill Master Lease provides that it is in place until the indefeasible payment in full of the Churchill Portfolio Mortgage Loan. Pursuant to the Churchill Master Lease the Churchill Master Tenant pays the borrower (i) $578 per month for each pad on which an Owned Mobile Home is located and (ii) all income actually received by the Churchill Master Tenant from the Owned Mobile Homes. Pursuant to the Churchill Portfolio Mortgage Loan documents, the Churchill Master Tenant is permitted to acquire new mobile home units provided that (i) such Owned Mobile Homes do not exceed 25% of all mobile homes on the Churchill Portfolio Mortgaged Properties (in the aggregate) and (ii) such additional Owned Mobile Homes are at all times located on pads that are subject to the Churchill Master Lease. The Churchill Master Tenant may sell Owned Mobile Homes to a third party resident meeting the borrower’s resident leasing criteria who enters into a pad lease with the borrower at its then market rental rate (in which case such mobile home will no longer be subject to the Churchill Master Lease). Underwritten Income from the Churchill Master Lease with respect to pad rent constitutes approximately 10.7% of underwritten base rent and approximately 10.1% of underwritten Effective Gross Income, and income from the Churchill Master Lease with respect to the rental of Owned Mobile Homes constitutes approximately 3.4% of underwritten Effective Gross Income.

(17)	The borrower is permitted to obtain the release of any of the individual Churchill Portfolio Mortgaged Properties upon satisfaction of the following conditions, among others: (i) the defeasance of a release amount equal to the greater of 110% of the allocated loan amount with respect to the individual Churchill Portfolio Mortgaged Property being released, or 100% of the applicable net sales proceeds of such individual Churchill Portfolio Mortgaged Property, (ii) after the release, the debt service coverage ratio with respect to the remaining Churchill Portfolio Mortgaged Properties is greater than the greater of (1) the debt service coverage ratio of all Churchill Portfolio Mortgaged Properties immediately prior to the release and (2) 1.85x, (iii) after the release, the debt yield with respect to the remaining Churchill Portfolio Mortgaged Properties is greater than the greater of (1) the debt yield of all Churchill Portfolio Mortgaged Properties immediately prior to the release and (2) 10.54%, and (iv) conditions related to REMIC compliance.

(18)	The individual Churchill Portfolio Mortgaged Property known as Canby Regency is a manufactured housing property as to which the manufactured homes are located on land owned in fee by the borrower. However, a portion of the Canby Regency Mortgaged Property, which is used for a water well and pump infrastructure that provides water to the manufactured housing community, is a ground leasehold interest under a ground lease that expires on December 31, 2033. The ground lease provides for annual ground rent of approximately $22,924 and increases annually by 5% on January 1 of each year.

(19)	The Largest Tenant of the Space Centre Industrial Park Mortgaged Property, Nickey Warehouse, Inc. has multiple leases with 260,340 SF expiring August 31, 2025 and 450,841 SF expiring May 31, 2025.

(20)	At origination of the Memphis and Chicago Industrial Portfolio Mortgage Loan, a master lease agreement was executed by the guarantors, as tenant, and the borrowers, as landlord, pursuant to which the guarantors will be obligated to pay rent in the amount due the tenants Transform Distribution Center Holdco LLC, Nickey Warehouses, Inc. and Terex Corporation as set forth in a schedule to such master lease (in each case to the extent that such tenant is not in fact paying and/or performing such obligations, and throughout the term of such master lease (which ends five years after the maturity date of the Mortgage Loan), regardless of whether the related underlying lease has expired or terminated).

(21)	The Memphis and Chicago Industrial Portfolio is comprised of four industrial properties totaling 2,861,286 SF and an office property totaling 115,742 SF.

(22)	The Largest Tenant, ManTech, has 80,433 square feet of space expiring on October 31, 2026, 42,762 square feet of space expiring on December 31, 2027, 20,510 square feet of space expiring on April 30, 2029 and 34,758 square feet of space expiring on August 31, 2029.

(23)	The Fourth Largest Tenant, NAVFAC, has 19,998 square feet of space expiring on September 23, 2029 and 3,440 square feet of space expiring on March 31, 2027.

(24)	The Largest Tenant, ManTech, has a right to terminate the 1000-2023 lease with respect to the 1000-2023 expansion premises effective June 30, 2026, subject to, among other things, (i) delivery of a written notice to the landlord on or before September 30, 2025, (ii) delivery of a written affidavit from an authorized representative of ManTech certifying that the government contract serviced by ManTech from the 1000-2023 expansion premises has terminated or will terminate prior to June 30, 2026, and (iii) a payment of termination fee equal to (a) $293,531.31 plus (b) the unamortized amount, as of June 30, 2026, of the sum of: (x) the amount of the 1000-2023 allowance, and (y) the amount of the commissions paid by landlord in connection with the amendment as of March 22, 2024, plus (c) interest accruing on such unamortized amounts at the rate of 9% per annum from January 1, 2024 to June 30, 2026.

(25)	The NYC Multifamily Portfolio Mortgage Loan is secured by (i) the 155 East 55th Street Mortgaged Property, which is comprised of 51 multifamily units, 66,507 SF of office space, 10,563 SF of retail space, and a 42-space parking garage and (ii) the 210 East 58th Street Mortgaged Property, which is comprised of 95 multifamily units and two ground floor retail spaces totaling 6,560 SF.

(26)	The Mortgaged Property has 335,957 square feet of office and retail space and 94,199 square feet of self-storage space.

(27)	The borrower is required to deposit $13,998 each month into the rollover reserve account if the amount on deposit in such reserve is less than $250,000.

(28)	The Third Largest Tenant, Al Bravo Films, LLC, has 10,982 square feet of space expiring on August 1, 2026, 4,390 square feet of space expiring on November 30, 2025 and 1,490 square feet of space expiring on January 31, 2026.

(29)	The Fifth Largest Tenant, Alternative Plan, Inc., has 3,893 square feet of space expiring on August 31, 2025, 3,250 square feet of space expiring on April 30, 2025, and 3,210 square feet of space expiring on December 31, 2024.

(30)	The Mortgaged Properties are located in radon zone 1. A first round of testing identified elevated levels of radon in 17 units at The Meadows at Lehigh Valley Mortgaged Property with levels ranging from 4.1 pico curies per liter of air (pCi/L) to 12.3 pCi/L, and in four units at The Hills at Lehigh Valley Mortgaged Property with levels ranging from 4.1 pCi/L to 5.3 pCi/L. In addition, the third floor units at The Hills at Lehigh Valley Mortgaged Property were not tested for radon levels (together with the units with elevated radon levels, the “Radon Affected Units”). $42,000 was reserved at origination for the potential remediation of the Radon Affected Units. On and after December 6, 2024, the borrower has the right to request $2,000 per Radon Affected Unit from such reserve either (i) if the Radon Affected Unit tested or retested at radon levels at or above 4.0 pCi/L, to be used for remediation of such unit, or (ii) if the Radon Affected Unit tested or retested at radon levels below 4.0 pCi/L, to be released to the borrower, in each case upon satisfaction of certain conditions, including (x) provision of satisfactory evidence to the lender that the Radon Affected Unit was tested or retested by an environmental engineer reasonably acceptable to the lender, and (y) if the Radon Affected Unit tested at or above 4.0 pCi/L, an officer’s certificate of the borrower, certifying among other things that such disbursement has been used for radon remediation.

(31)	The borrower may obtain the release of either of the two individual Mortgaged Properties upon defeasance of an amount equal to the greater of (x) 125% of the allocated loan amount of the Mortgaged Property being released and (y) 100% of the net sales proceeds of the Mortgaged Property being released, among other conditions, as described in the Preliminary Prospectus under “Description of the Mortgage Pool—Certain Terms of the Mortgage Loans—Partial Releases".

(32)	The 48 West Mortgaged Property is comprised of 262 multifamily units (of which 100% are leased to students) and 3,801 SF of retail space, which includes three ground floor retail tenants including a restaurant, a coffee/smoothie shop, and a convenience store.

(33)	Grand Valley State University executed an 11.5 month master lease for an occupancy date commencing on August 20, 2024 and expiring on July 31, 2025. The tenant occupies 198 beds (52 units) at the Mortgaged Property for the total sum of $1,597,248 to be paid in ten equal monthly payments of $159,724.80.

(34)	On any business day that is later than 60 days following the closing date, the Mortgage Loan documents permit the borrowers to obtain the release of certain parcels of real property identified in the Mortgage Loan documents (which parcels collectively represent the entire Mortgaged Property) (each, a “Release Property”) in connection with a sale to a bona fide third-party or an affiliate of the borrowers or guarantor pursuant to an arm’s-length agreement provided that, among other conditions, (i) the borrowers deliver evidence to the lender that simultaneously with any prepayment required under the Mortgage Loan, the related mezzanine borrower is making any prepayment required under the related mezzanine loan, (ii) the borrowers prepay the Mortgage Loan in an amount equal to (x) in the event of a sale of such Release Property to a third party not affiliated with the borrowers or guarantor, the greater of (1) the applicable pro-rata share of 95% of the gross sales proceeds for such Release Property (e.g., assuming a mortgage loan of $80 and an outstanding principal balance of both the mortgage loan and the related mezzanine loan of $100, the pro rata share for the mortgage loan will be 80%) and (2)(a) 110% of the allocated loan amount for the first Release Property to be released and (b) 120% of the allocated loan amount for each and every Release Property to be released after the first release of a Release Property, and (y) in the event the sale of such Release Property is to an affiliate of the borrowers or guarantor, (1) 110% of the allocated loan amount for the first Release Property to be released, and (2) 120% of the allocated loan amount for each and every Release Property after the first Release Property to be released to an affiliate of the borrowers or guarantor, in each of the foregoing instances, together with any applicable yield maintenance premium, (iii) after giving effect to such sale and prepayment, (1) the combined debt service coverage ratio (based on both the Mortgage Loan and the related mezzanine loan, as calculated under the Mortgage Loan documents) for all of the remaining Mortgaged Property is no less than the greater of (x) the debt service coverage ratio immediately preceding such sale (assuming for purposes of such calculation that no related prepayment of the related mezzanine loan has occurred) and (y) the combined debt service coverage ratio (on both the Mortgage Loan and the related mezzanine loan, as calculated under the Mortgage Loan documents) as of the origination date, and (2) the loan-to-value ratio for the remaining Mortgaged Property is no greater than the lesser of (x) the combined loan-to-value ratio (based on the then aggregate outstanding balance of the Mortgage Loan and the related mezzanine loan) immediately preceding such sale (assuming for purposes of such calculation that no related prepayment of the mezzanine loan has occurred) and (y) the loan-to-value ratio (based on then aggregate outstanding principal balance of both the Mortgage Loan and the related mezzanine loan) as of the origination date, provided that in each instance, the borrowers may prepay the Mortgage Loan (and the mezzanine borrower may prepay the related mezzanine loan) by an amount equal to the pro rata share applicable to the Mortgage Loan (or, in the case of the mezzanine borrower, the related mezzanine loan) in an amount sufficient to satisfy the foregoing debt service coverage ratio and loan-to-value requirements, and (iv) the borrowers satisfy customary REMIC requirements.

(35)	Concurrently with the funding of the Mortgage Loan, 3650 Real Estate Investment Trust 2 LLC funded a mezzanine loan in the amount of $9.2 million (the "Mezzanine Loan”). The Mezzanine Loan is secured by the direct equity interests in the borrowers. The Mezzanine Loan is coterminous with the Mortgage Loan and accrues interest at a rate of 9.00000% in the first year, 10.00000% in the second year and 11.00000% for the remaining three years. Based on the Mortgage Loan and the Mezzanine Loan, the cumulative Cut-off Date loan-to-value ratio is 77.1%, the cumulative UW NCF debt service coverage ratio is 1.08x and the cumulative UW NCF debt yield is 7.3%. The rights of the mezzanine lender under the Mezzanine Loan are further described under “Description of the Mortgage Pool—Additional Indebtedness—Mezzanine Indebtedness” in the Preliminary Prospectus.

(36)	The Liberties Walk Mortgaged Property is comprised of 88 multifamily units and 29,108 SF of retail space.

(37)	The Largest Tenant of the 289 East 149th Street Mortgaged Property, Expo Beauty Supply, occupies floors 2-4 of the building (5,400 SF) and subleases its space to 10 subtenants.

(38)	The ST NYC Mixed-Use Portfolio Mortgage Loan is comprised of eight properties including two multifamily assets, one retail asset, and five mixed-use assets located throughout New York City. The Mortgaged Properties include 55 residential units (37,955 SF) which are 98.2% occupied and 17 commercial units (31,250 SF) which are 98.7% occupied. The multifamily component comprises 56.9% of portfolio Effective Gross Income and the commercial component comprises 43.1% of portfolio Effective Gross Income.

(39)	Historical cash flows are unavailable as the borrower sponsor acquired three of the Mortgaged Properties in 2023. Due to acquisition timing, the consolidated portfolio cash flow presented for all mortgaged properties includes the trailing nine months ending 4/30/24, annualized.

(40)	The increase in Underwritten NOI of more than 10% over Most Recent NOI can be attributed to the borrower renovating six of the mortgaged properties in 2023 and subsequently leasing up the multifamily portion along with signing three new commercial leases in 2024.

(41)	The borrower is required to deposit $14,212.80 each month into the rollover reserve account if the amount on deposit in such reserve is less than $511,624.80.

(42)	The Third Largest Tenant, Harbor Freight Tools, has one-time right to terminate its lease as of the last day of the 60th full calendar month following the rent commencement date, subject to, among other things, (i) delivery of a written notice to the landlord on or before the 54th full calendar month following the rent commencement date and (ii) a termination payment equal to 50% of the brokerage commission paid by the landlord to the brokers.

(43)	The Mortgage Loan is part of a Whole Loan that was co-originated by Morgan Stanley Bank, N.A., Barclays Capital Real Estate Inc., and Societe Generale Financial Corporation.

(44)	The lockout period will be at least 24 months beginning with and including the first payment date on September 1, 2024. Defeasance of the Baybrook Mall Whole Loan in full is permitted at any time after the date that is the earlier of (i) two years from the closing date of the securitization that includes the last pari passu note to be securitized and (ii) July 19, 2027. The assumed lockout period of 24 payments is based on the expected Benchmark 2024-V9 securitization closing date in August 2024. The actual lockout period may be longer.

(45)	During a cash management period, the borrower is required to deposit an amount equal to one twelfth of $0.25 per owned leasable square foot at the Mortgaged Property (initially $11,270.54) each month as the replacement reserve monthly deposit, subject to a cap of $270,493.

(46)	During a cash management period, the borrower is required to deposit an amount equal to one twelfth of $1.00 per owned leasable square foot at the Mortgaged Property (initially $45,082.17) each month as the rollover reserve monthly deposit, subject to a cap of $1,081,972.

(47)	The Third Largest Tenant, Foot Locker, has 13,936 square feet of space expiring on April 30, 2032 and 4,440 square feet of space expiring on May 31, 2027.

(48)	The Mortgage Loan is part of a Whole Loan that was co-originated by JPMorgan Chase Bank, National Association and 3650 Real Estate Investment Trust 2 LLC.

(49)	The borrowers own the related Mortgaged Property as tenants-in-common.

(50)	The lockout period will be at least 24 payment dates beginning with and including the first payment date on June 5, 2024. Defeasance of the Columbus Business Park Whole Loan is permitted at any time after the earlier to occur of (a) the end of the two-year period commencing on the closing date of the securitization of the last promissory note representing a portion of the Columbus Business Park Whole Loan to be securitized and (b) April 19, 2027. The assumed defeasance lockout period of 27 payments is based on the expected Benchmark 2024-V9 securitization closing date in August 2024. The actual lockout period may be longer.

(51)	According to the related appraisal, the second floor of the Mortgaged Property, which contains approximately 1,546,217 SF, is typically only usable by tenants occupying the first floor with an access ramp connecting the two floors, but is otherwise considered unleasable to standalone tenants because of limited access to the interior ramps and freight elevators and no direct truck dock access. The related appraisal report indicates that the largest tenant at the Mortgaged Property, Ford Motor Company, which currently leases approximately 909,287 SF on the first floor of the Mortgaged Property, representing approximately 41.6% of the net rentable area, has an unsigned letter of intent to lease approximately 198,946 SF on the second floor of the Mortgaged Property, which is underwritten as vacant rentable area and would represent approximately 9.1% of the net rentable area at the Mortgaged Property. The remaining 1,347,271 SF of space on the second floor was not included in the underwritten net rentable area.

(52)	The Third Largest Tenant, US 1 Logistics, has a one-time termination option as of July 31, 2025. The lease expires on July 31, 2027.

(53)	The Upfront Other Reserve ($) consists of approximately $862,381, of which approximately $567,233 is allocated for TI/LC and approximately $295,148 for free rent.

(54)	The Monthly Other Reserve ($) includes a springing PIP reserve. Once a PIP is imposed by the franchisor pursuant to the franchise agreement, the borrower is required to deposit an amount equal to 110% of the sum required to pay for such PIP into the PIP reserve account on the date that is the earlier to occur of (i) 30 days from the date of finalization of the PIP and (ii) 60 days after receipt of notice from the franchisor with respect to such PIP work.

(55)	Historical financials prior to 2022 are not available as the seller did not provide historical financials.

(56)	Historical cash flows are not available as the borrower acquired the Mortgaged Property in March of 2022 and did not begin lease-up until March 2023. The Mortgaged Property was acquired as a student housing property and upon completion of the 2022/2023 school year, the borrower initiated a full-scale renovation program to reposition the Mortgaged Property as a traditional multifamily asset.

(57)	The increase in Underwritten NOI of more than 10% over Most Recent NOI is primarily attributable to the borrower's repositioning of the Mortgaged Property from student housing to multifamily in 2023 and the subsequent lease up. The increase is primarily attributable to the borrower's full-scale renovation program to reposition the Mortgaged Property as a multifamily asset.

(58)	On each payment date, if and to the extent the amount contained in the replacement reserve ($) account is less than $65,000, the borrower is required to deposit into the replacement reserve ($) account an amount equal to $1,800.00.

(59)	The Monthly Other Reserve ($) includes a springing PIP reserve. Once a PIP is imposed by the franchisor pursuant to the franchise agreement, the borrower is required to deposit an amount equal to 110% of the sum required to pay for such PIP into the PIP reserve account on the date that is the earlier to occur of (i) 30 days from the date of finalization of the PIP and (ii) 60 days after receipt of notice from the franchisor with respect to such PIP work.

(60)	The Monthly Other Reserve ($) includes a springing PIP reserve. Once a PIP is imposed by the franchisor pursuant to the franchise agreement, the borrower is required to deposit an amount equal to 110% of the sum required to pay for such PIP into the PIP reserve account on the date that is the earlier to occur of (i) 30 days from the date of finalization of the PIP and (ii) 60 days after receipt of notice from the franchisor with respect to such PIP work.

(61)	The Monthly Other Reserve ($) includes a springing PIP reserve. Once a PIP is imposed by the franchisor pursuant to the franchise agreement, the borrower is required to deposit an amount equal to 110% of the sum required to pay for such PIP into the PIP reserve account on the date that is the earlier to occur of (i) 30 days from the date of finalization of the PIP and (ii) 60 days after receipt of notice from the franchisor with respect to such PIP work.

(62)	The Sole Tenant, City of New York, has the right to terminate its lease at any time during the 10th, 13th and 16th lease years of the term (which commence on November 1, 2031, November 1, 2034 and November 1, 2037, respectively), in each case upon 365 days’ notice.

(63)	The Mortgaged Property includes a rooftop static billboard which is affixed to the building and leased to Heritage Outdoor Media LLC pursuant to a lease agreement that expires December 31, 2035 . The billboard lease accounts for 16.5% of the Underwritten Net Operating Income of the Mortgaged Property. The tenant is responsible for obtaining the permits for, and maintaining, the billboard at the tenant’s sole cost and expense. The tenant has certain termination options in connection with the withdrawal, revocation or termination of the permits, as well as if any of the following occur: (i) the sign location becomes entirely or partially obstructed or destroyed through the borrower’s fault, (ii) the sign location is or becomes unsafe for maintenance of the sign through no fault, act or omission of the tenant, (iii) the tenant is prevented by any future law, regulation or ordinance from constructing, installing, displaying or maintaining advertising displays on the sign, or (iv) the value of the location, for advertising purposes, is or becomes diminished for reasons such as change in traffic patterns, closure of road, or the sight line becomes entirely or partially obstructed. Additionally, if the permits fail to be issued for any reason except for the tenant’s fault, or if the permit gets revoked by the City of New York due to no fault of the tenant, the borrower is required to return a prorated portion of the $110,000 permit fee.

(64)	The Monthly Other Reserve ($) includes a springing PIP reserve. Once a PIP is imposed by the franchisor pursuant to the franchise agreement, the borrower is required to deposit an amount equal to 110% of the sum required to pay for such PIP into the PIP reserve account on the date that is the earlier to occur of (i) 30 days from the date of finalization of the PIP and (ii) 60 days after receipt of notice from the franchisor with respect to such PIP work.

(65)	The Mortgaged Property has 97 multifamily units, including 21 Section 8 units, and three ground floor retail tenants.

(66)	During an event of default or during any period commencing on the last day of a calendar quarter in which the debt service coverage ratio is less than 1.15x, the borrower is required to deposit $1,382.58 each month into the rollover reserve account.

(67)	The Mortgaged Property is a 17,919 SF ground floor retail condominium located within a 453-unit mid-rise condominium building. The Mortgaged Property represents 3.75276% of the condo association. The borrower owns 17 units of the total 453 units in the condominium and is entitled to one vote per unit owned, and to appoint one member of a five-member board of directors.

(68)	The borrowers are required to deposit a one-time payment of $200,000 into the Designated Tenant Reserve Account upon the occurrence of a Designated Tenant Reserve Deposit Event (as defined below). “Designated Tenant Reserve Deposit Event” means the occurrence of either of the following: (i) October 2, 2024, if as of such date the Citibank tenant has not delivered to the borrower written notice of its intent to renew or extend its lease pursuant to the terms thereof or (ii) at any time after delivery to the borrower by the Citibank tenant of written notice of its intent to renew or extend its lease pursuant to the terms thereof, such tenant delivers to the borrower any written notification of its intention or desire to not renew or extend such lease.

(69)	The Rent Reserve for the Mortgaged Property will be released to the extent either or both of the related tenants, Corongo and Hitrade, have paid all delinquent rent and are current on their leases, or the applicable space has been retenanted.

(70)	The borrower is required to deposit into the replacement reserve each month an amount equal to one-twelfth of: (a) 2% of the projected annual gross income from operations of the Mortgaged Property as set forth in the approved annual budget during the first and second year of the term of the Mortgage Loan; and (b) 4% of the projected annual gross income from operations of the Mortgaged Property as set forth in the approved annual budget from and after the second year of the term of the Mortgage Loan, the lender may reassess and increase the replacement reserve monthly deposit in its sole discretion. The replacement reserve monthly deposit as of the first payment date is $4,803.53.

(71)	The lockout period will be at least 35 payment dates beginning with and including the first payment date in June 2022. The 500 Delaware Mortgage Loan may be defeased beginning on April 7, 2025, which is the second anniversary of the startup date of the REMIC formed in connection with the REMIC declaration made on April 7, 2023.

(72)	The Fifth Largest Tenant, General Services Administration, leases 18,511 SF of space that expire in August 2024 and 7,173 SF of space that expire in June 2034.

(73)	A $262,227 credit for the $2,779,031 tenant improvement and leasing commissions escrow was underwritten on the 500 Delaware Mortgage Loan. The $2,779,031 initial deposit was placed into a reserve and disbursements can be made for tenant improvements and leasing commissions.

(74)	The borrower is required to deposit, on a monthly basis, 1/12th of an amount which would be sufficient to pay insurance premiums for the renewal of coverages; provided the monthly escrow for insurance will be waived for insurance premiums paid directly by any tenant(s) at the Mortgaged Property, so long as (i) no event of default has occurred and is continuing, (ii) the policies maintained by the borrower covering the Mortgaged Property are part of a blanket or umbrella policy approved by the lender, including, without limitation, approval of the schedule of locations and values, (iii) the borrower provides the lender evidence of renewal of such policies, (iv) the borrower provides the lender paid receipts for the payment of the insurance premiums by no later than 10 business days prior to the expiration dates of the policies, and (v) if law & ordinance coverage is not maintained as part of the blanket or umbrella policy approved by the lender, the borrower is required to (x) maintain a separate law & ordinance policy for the Mortgaged Property in an amount acceptable to the lender, (y) provide the lender with paid receipts for the payment of the insurance premiums for such policy by no later than 10 business days prior to the expiration date of such policy, and (z) provide the lender with evidence of renewal of such policy. The borrower is required to commence making the monthly insurance deposit within five days of receipt of notice from the lender of the borrower’s failure to comply with the above-mentioned requirements.

(75)	The borrower is required to deposit on any monthly payment date occurring (x) prior to a lease sweep extension event, the sum of $46,403, and (y) subsequent to a lease sweep lease extension event, the sum of $31,000 for tenant improvements and leasing commissions that may be incurred. The borrower is also required to deliver to the lender, for transfer into the leasing reserve, all lease termination payments. Provided no event of default has occurred and is continuing and provided further that a lease sweep lease extension event has occurred, the borrower will not be required to make the leasing reserve monthly deposit on any monthly payment date when the leasing reserve funds then on deposit in the leasing reserve are equal to or exceed $3,000,000.

(76)	The Largest Tenant, Wilmington Savings Fund Society, FSB, has 4,113 SF of retail space, 72,439 SF of office space and 4,602 SF of storage space.

(77)	The Essential Storage Vandercook Mortgaged Property has 34,016 square feet of self-storage space and 3,600 square feet of parking space, and the Essential Storage Shirley Mortgaged Property has 32,315 square feet of self-storage space, 11,500 square feet of parking space and two residential units totaling 1,600 square feet.

(78)	The Fourth Most Recent cash flows are not available as they were not required by the lender.

		FREE WRITING PROSPECTUS
		FILED PURSUANT TO RULE 433
		REGISTRATION FILE NO.: 333-261764-04