BankUnited closed a $15 million loan to Ng Fook Funeral Services LLC to refinance its three funeral home properties in New York City.
Ng Fook Funeral Services will use a portion of the loan to refinance its $13.5 million mortgage on three owner-occupied funeral homes: 36 Mulberry Street, New York (22,000 s/f); 6920 Fort Hamilton Parkway, Brooklyn (14,000 s/f); and 41 Canal Street, New York (13,000 s/f).
The balance of the funds will be used for improvements and closing costs.
The Ng Fook Funeral Home was established in 1976 in New York City’s Chinatown to provide traditional Chinese funeral services. Today, Ng Fook Funeral Group has five locations and employs nearly 30 people, including five funeral directors.
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