Bong Ho Ha And Mi Kwang Ha Refinance Funeral Home Portfolio In Queens For $4.5M
162-14 Sanford Avenue, 42-16 163rd Street & 42-10 163rd Street
$4,500,000
$233/SF
Building Size
6,414 SF
Asset Type
Office
Closing
Feb 4, 2026
About this deal
AI
The properties involved in this refinancing transaction are located at 162-14 Sanford Avenue, 42-16 163rd Street, and 42-10 163rd Street in the Murray Hill neighborhood of Queens. The total square footage of the assets is 6,414. The loan amount secured for this portfolio is $4,500,000 with Bank of Hope as the lender.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $4,500,000
- Lender: Bank of Hope
- Landlord: Bong Ho Ha & Mi Kwang Ha
- Loan Type: Refinance
Bong Ho Ha and Mi Kwang Ha executed this refinance to leverage their funeral home portfolio in Queens, enhancing their financial strategy while securing their properties with the loan from Bank of Hope.
On the Map
$4,500,000
$233/SF
Office
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.53%
Cash-on-Cash
-1.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93