In Sook Kim pays $5M to Bongho Ha for mixed-use in Murray Hill, Queens

In Sook Kim through the entity Ykin Management LLC paid $5 million to Bongho Ha through the entity BHA 164 Northern LLC for the mixed-use building (K4) at 164-05 Northern Boulevard and the mixed-use building (K4) at 164-09 Northern Boulevard in Murray Hill, Queens. The expected use is cash flowing.
The deal closed on March 25, 2026 and was recorded on March 30, 2026. The two properties have 6,704 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $745 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 signatory for Bongho Ha was Bongho Ha. The signatory for In Sook Kim was In Sook Kim. The contract date was January 14, 2026.

Because multiple properties have been transacted, some of the following sections will follow the property with the largest assessed value, which in this case, is the property on 164-05 Northern Boulevard.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has no record that the buyer In Sook Kim had purchased any other properties and sold one property in one transaction for a total of $3.2 million over the past 24 months.
The seller Bongho Ha purchased three properties in two transactions for a total of $12.4 million and had not sold any properties over the same time period. The two properties with a total of 6,704 square feet of built space generated revenue of $317,588 per year or $47 per square foot. The sale price per square foot was $746.

The property

The mixed-use building in Murray Hill (QN) has 6,704 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 59 feet and is 52 feet deep with a total lot size of 3,372 square feet. The lot is irregular. The zoning is R5B which allows for up to 1.35 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $1.1 million.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the properties for the past 24 months. In addition, according to city public data, the properties have received $7,500 in ECB penalties and $7,800 in OATH penalties in the last year.

Development

For the tax lot buildings, one out of the two buildings received a initial certificate of occupancy in the last ten years. 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 $135.6 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 124,249 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

On the tax block of 164-05 Northern Boulevard, PincusCo has identified the owners of three of the eight commercial properties representing 20,426 square feet of the 36,667 square feet. The two identified owners are Jesse Min Kim and Bongho Ha.
There are no active new building construction projects on this tax block.

The majority, or 57 percent of the 36,667 square feet of built space are retail buildings, with mixed-use buildings next occupying 27 percent of the space.

The seller

The PincusCo database currently indicates that Bongho Ha owned at least four commercial properties in New York City with 22,064 square feet and a city-determined market value of $5.3 million. (Market value is typically about 50% of actual value.) Within the portfolio, the bulk, or 54 percent of the 22,064 square feet of built space are mixed-use properties, with retail properties next occupying 46 percent of the space. They are all located in Queens.

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