SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
                       
FORM 10-K
                       
Annual Report Pursuant to Section 13
or 15(d) of the Securities Exchange Act of 1934 
for the fiscal year ended December 31, 1998
                       
Commission File Number: 33-99774-02
                       
GS MORTGAGE SECURITIES CORPORATION II issuer in respect of 
Commercial Mortgage Pass-Through Certificates Series 1998-GL2
(Exact Name of registrant as specified in its charter)
                       
Delaware      			22-3442024
(State or Other Juris-		(I.R.S. Employer
diction of Incorporation)     Identification No.)
  
85 Broad Street, New York,  New York,  10004 
(Address of Principal Executive Office)
 
212-902-1000 
(Registrant's telephone number, including area code) 

  
Securities registered pursuant to Section 12(b) of the 
Act:     None
  
Securities registered pursuant to Section 12(g) of the 
Act:     None
  
Indicate by check mark whether the registrant (1) has filed 
all reports required to be filed  by Section 13 or 15(d) of 
the Securities Exchange Act of 1934 during the preceding 12 
months (or for such shorter period that the registrant was 
required to file such reports),and (2) has been subject to 
such filing requirements for the past 90 days. 
  
Yes  X   No _
  
Indicate by check mark if disclosure of delinquent filers 
pursuant to Item 405 of Regulation S-K is not contained herein, 
and will not be contained, to the best of registrant's 
knowledge, in definitive proxy or information statements 
incorporated by reference in part III of this Form 10-K or 
any amendment to this Form 10-K.  

Not applicable.
  
Aggregate market value of voting stock held by non-affiliates 
of the Registrant as of December 31, 1998.  

Not applicable.
  
Number of shares of common stock outstanding as of December 31, 
1998.  

Not applicable.
    


 Table of Contents
                        
  
PART I
  
Item 1. Business..................................................3
  
Item 2. Properties................................................3
  
Item 3. Legal Proceedings.........................................3
  
Item 4. Submission Of Matters To A Vote Of Security Holders.......3
  
PART II
  
Item 5. Market For Registrant's Common Equity And 
Related Shareholder Matters.......................................3
  
Item 6. Selected Financial Data...................................3
  
Item 7. Management's Discussion And Analysis Of Financial Condition 
And Results Of Operations...............................4
  
Item 8. Financial Statements And Supplementary Data...............4
  
Item 9. Changes In And Disagreements With Accountants On 
Accounting And Financial Disclosure.....................4
  
PART III
  
Item 10. Directors And Executive Officers Of The Registrant.......4
  
Item 11. Executive Compensation...................................4
  
Item 12. Security Ownership Of Certain Beneficial Owners And 
            Management......................................4
  
Item 13. Certain Relationships And Related Transactions...4
  
PART IV
  
Item 14. Exhibits, Financial Statement Schedules And Reports 
On Form 8-K.....................................4
  
Signatures................................................4
  
Exhibit Index.............................................4
    
PART I
  
ITEM 1.         BUSINESS
  
This Annual Report on Form 10-K relates to the Trust Fund 
formed, and the Commercial Mortgage Pass-Through Certificates, 
Series 1998-GL2 issued, pursuant to a Pooling and Servicing 
Agreement, dated as of May 11, 1998 (the "Pooling and Servicing 
Agreement"), by and among GS Mortgage Securities Corporation II 
as sponsor, GMAC Commercial Mortgage Corporation, as master 
Servicerand special servicer, LaSalle National Bank, as Trustee, 
and ABN AMRO Bank N.V., as fiscal agent. The Class A-1, Class 
A-2, Class X, Class B, Class C, Class D, and Class E 
Certificates have been registered pursuant to the Act under a 
Registration Statement on Form S-3 (the "Registration 
Statement").
  
Capitalized terms used herein and not defined have the same 
meanings ascribed to such terms in the Pooling and Servicing 
Agreement.
  
This Annual Report is being filed by the Trustee, in its capacity 
as such under the Pooling and Servicing Agreement, on behalf of 
Registrant.  The information contained herein has been supplied 
to the Trustee by one or more of the Borrowers or other third 
parties without independent review or investigation by the 
Trustee.  Pursuant to the Pooling and Servicing Agreement, the 
Trustee is not responsible for the accuracy or completeness of 
such information.
  
ITEM 2.         PROPERTIES
  
See Exhibits 99.1 and 99.2 hereto for Servicer's Annual 
Statement of Compliance and Servicer s Independent Accountant's
Report on Servicer's servicing activities.
  
ITEM 3.         LEGAL PROCEEDINGS
  
Except for claims arising in the ordinary course of business and 
which are covered by liability insurance, there are no material 
pending legal proceedings involving the Trust Fund, the Mortgages 
comprising the Trust Fund or the Trustee, the Special Servicer or 
the Servicer with respect to or affecting their respective duties 
under the Pooling and Servicing Agreement.
  
ITEM 4.        SUBMISSION OF MATTERS TO A VOTE OF SECURITY  
HOLDERS
  
No matters were submitted to a vote of Certificateholders during 
the fiscal year covered by this report.
  
PART II
  
ITEM 5.         MARKET FOR REGISTRANT'S COMMON EQUITY AND RELATED       
                STOCKHOLDER MATTERS
  
There was one registered holder of the Certificate representing 
an equity interest in the Trust as of December 31, 1997.  To the 
Registrant's knowledge, as of that date, there was no principal 
market in which the Certificates representing an equity interest 
in the Trust were traded.
  
ITEM 6.         SELECTED FINANCIAL DATA
  
Not applicable.
  
ITEM 7.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF A FINANCIAL 
   CONDITION AND RESULTS OF OPERATIONS.
  
Not applicable.
  
ITEM 8.        FINANCIAL STATEMENTS AND SUPPLEMENTARY  DATA
  
Not applicable.
  
ITEM 9.        CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON        
               ACCOUNTING AND FINANCIAL DISCLOSURE
  
None.
  
PART III
  
The information required by Items 10, 11, 12 and 13 is not 
applicable as the trust fund does not have directors or 
officers and Certificateholders have no right to vote (except 
with respect to required consents to certain amendments to the 
Pooling and Servicing Agreement and upon certain events of 
default) or control the Trust Fund.
  
PART IV
 
ITEM 14.  EXHIBITS, FINANCIAL STATEMENT SCHEDULES AND REPORTS 
    ON FORM 8-K
  
(a)     
1.  Servicer's Annual Statement of Compliance for the period 
ended 12/31/98.
2.  Servicer's Independent Accountant's Report on Servicer's 
servicing activities.

(b)  All current Reports on Form 8-K for the Trust have been 
filed as of 12/31/98. 
  
Pursuant to the requirements of Section 13 or 15(d) of the 
Securities Exchange Act of 1934, the Registrant has duly caused 
this report to be signed on its by the undersigned thereunto 
duly authorized.
  
  
LASALLE NATIONAL BANK, IN
ITS CAPACITY AS TRUSTEE UNDER 
THE POOLING AND SERVICING
AGREEMENT ON BEHALF OF GS 
Mortgage Securities Corporation 
REGISTRANT      
                 
  
By: /s/ Russell Goldenberg
Name:  Russell Goldenberg
Title: Senior Vice President
Dated: March 30, 1999
  
  

EXHIBIT INDEX
  
  
Exhibit No.     Description
  
99.1  Servicer's Annual Statement of Compliance
99.2   Servicer's Independent Accountants' Report on 
Servicer's servicing activities

MIDLAND

LOAN SERVICES INC.

March 18,1999

Attn: Corporate Trust Administration
IMPAC Owner Trust 1998-Cl, c/o Wilmington Trust Compan
Rodney Square North
I 100 N. Market Street
Wilmington, DE 19890-0001
Impac Owner Trust, Collateralized Mortgage Bonds
Series 1998-Cl

OFFICER'S CERTIFICATE

Pursuant to the requirements of that certain Servicing 
Agreement governing the referenced Trust (the "SA"), it is 
hereby certified that (i) the undersigned has completed 
a review of the Servicer's performance of its obligations 
under the SA for the current calendar year; (ii) to 
the best of the undersigned's knowledge on the basis of 
that review the Servicer has fulfilled all of its obligations 
under the SA throughout such period; (iii) to the best of 
the undersigned's knowledge, the sub- servicer, if any, 
has fulfilled its obligations under its sub-servicing 
agreement in all material respects; and, (iv) no notice 
has been received from any governmental agency or body 
which would indicate a challenge or question as to the 
status of the Trust's qualification as a REMIC under the Code.

Charles J. Sippley
Senior Vice President

Paula J Maelson
Vice President

cc:	Please see attached page

210 W 10th Street Kansas City, MO 64105 Phone: 816/435-5000FAX: 816/4355-2326




	Officer's Certificate March 18, 1999 Page 2

cc:	Attn: Asset Backed Securities Trust Services Group-Impac 98-Cl
	LaSalle National Bank
	135 S. LaSalle Street
	Suite 1625
	Chicago, IL 60674-4107


ERNST& YOUNG LLP
One Kansas City Place
Phone: 816-474-5200
1200 Main Street
Kansas City, Missouri 64105-2143

Report of Independent Accoun'tants on Management's
Assertion on Compliance with the Minimum
Servicing Standards Set Forth in the UnOronn Single
Attestation Programfor Mortgage Bankers

The Audit Committee PIVC Bank Corp.

We have examined managernent,s assertion, included in the accOmPanYing report 
titledReport of Management on ComPl'ance with the Minimum Sen*ing Standards 
Set Forth in the Unifor,-n Single Attestation Program for Mortgage Bankers, 
that except for noncompliance with the minimum Servicing standard for 
custodial bank accounts, Midland Loan Services, Inc. (NILS), a wholly-owned,
subsidkq of PNC Bank Corp., complied with the minimum servicing standards set
forth in the Mongage Bankers Association of America's Un&r
ember 31, 1998. Management is responsible for MLS' compliance with those 
requirements. Our responsibility is to express an opinion on management's 
assertions about M~S~ compliance based on our examination,

Our examination was made in accordance with Standards established by the 
American Institute of Certified Public Accountants and, accordingly, included
 examining, on a test basis, evidence about Nffis, compliance with those 
requirements and performing such other procedures as we considered necessary 
in the circumstances. We believe that our examination provides a reasonable 
basis for our opinion. Our examination doesnot provide a legal determination 
on MLS1 compliance with specified requirements.

in our Opinion, management's assertion that except
noncompliance with the minimum servicing standard for
custodial account reconciliations, ins Complied with the
aforementioned requirements during the year ended December
31, 1998, is fairlystated in all material respects.

As discussed in management's assertion, the following material noncompliance 
occurred at MLS during the year ended December 31, 1998. With regard to 
standard L4, reconciling items exist which have not been resolved within 90 
calendar days Of their original identification.

January 22, 1999
Ernst &Young LLP is a member of Ernst &Young International, Ltd.

	

LOAN SERVICES

Report of Management Compliance with the Minimum Servicing 
Standards Set Forth in the Untform Single Attestation Program 
for Mortgage Bankers We, as members of management of Midland 
Loan Services, Inc. (MLS), a wholly owned subsidiary of PNC 
Bank Corp. (PNCBC), are responsible for complying with the 
minimum servicing standards as set forth in the Mortgage 
Bankers Association of America's Uniform Single Attestation 
Program for Mortgage Bankers (LTSAP) except for commercial loan 
and multifamily servicing, minimum servicing standards V .4 and
V1. 1, which the Mortgage Bankers Association of America has interpreted as 
inapplicable to such servicing. We are also 
responsible for establishing and maintaining eflective internal 
control over compliance with these standards. We have performed 
an evaluation of MLS' compliance with the minimum servicing 
standards as set forth in the, USAP as of December 31, 1998 
and for the year then ended. Based on this evaluation, we 
assert that during the year ended December 31, 1998, MLS 
complied, in all material respects, with the minimum servicing standards set 
fbrth in the USAP except as described below,

With regard to standard 1.4, reconciling items exist which 
have not been resolved within ninety calendar days of their 
original identification.

As of and for this same period, PNCBC had in effect a fidelity 
bond in the amount of $300,000,000 and an error and omissions 
policy in the amount of $20,000,000,

Leon E. Bergman	01
Executive Vice President

Paula J. Mickelson
Vice President

March 30, 1999

210 W. 10th Street 
Kansas City, Mo 64105