Heung Soo Sul, James Jinkee Sul pay $3.7M for office in Murray Hill, Queens

Heung Soo Sul and James Jinkee Sul through the entity Murray Asset Holdings LLC paid $3.7 million to Kwang Ho Choi and Bock Nam Choi through the entity Murray Choi, LLC for the office building (O7) at 34-09 Murray Street in Murray Hill, Queens. The expected use is cash flowing.
The deal closed on January 28, 2026 and was recorded on February 9, 2026. The property has 5,658 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $648 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The seller bought the property on May 3, 2012, for $1.7 million. The signatory for Kwang Ho Choi and Bock Nam Choi was Kwang Ho Choi and Bock Nam Choi. The signatory for Heung Soo Sul and James Jinkee Sul was James Jinkee Sul. The contract date was October 15, 2025.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has no record that the buyer Heung Soo Sul had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Kwang Ho Choi had not purchased any other properties and had not sold any properties over the same time period. The 5,658-square-foot property generated revenue of $180,320 or $32 per square foot, according to the most recent income and expense figures.

The property

The office building in Murray Hill (QN) has 5,658 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 50 feet and is 99 feet deep with a total lot size of 4,950 square feet. The zoning is R3-2 which allows for up to 0.5 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $952,000.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the property for the past 24 months. In addition, according to city public data, the property has not received any significant violations in the last year.

Development

There are no active new building construction projects or major alteration projects with initial costs more than $1 million on this tax lot.

The neighborhood

In Murray Hill (QN), The bulk, or 32 percent of the 4.7 million square feet of commercial built space are mixed-use buildings, with walkup buildings next occupying 22 percent of the space. In sales, Murray Hill (QN) has had very little sales volume relative to other neighborhoods with $136.3 million in sales volume in the last two years. For development, Murray Hill (QN) has had very little major development activity relative to other neighborhoods.It had 131,196 square feet of commercial and multi-family construction under development in the last two years, which represents 3 percent of the neighborhood’s built space.

The block

There are no active new building construction projects on this tax block.

The majority, or 77 percent of the 40,974 square feet of built space are walkup buildings, with office buildings next occupying 14 percent of the space.

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