Jiali Xiao pays $2.4M for mixed-use in Flushing

Jiali Xiao through the entity J&J Shelby Inc paid $2.4 million to Ho Chu Chang Yao and Yu-Chu Chang Huang through the entity Huang, Yu-Chu Chang for the five-unit mixed-use building (S5) at 133-12 41st Road in Flushing, Queens. The expected use is cash flowing.
The deal closed on February 12, 2026 and was recorded on February 25, 2026. The property has 3,564 square feet of built space and 1,040 square feet of additional air rights for a total buildable of 4,597 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $673 and the price per buildable square foot is $522 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 December 23, 2012, for $270,000. The signatory for Ho Chu Chang Yao and Yu-Chu Chang Huang was Ho Chu Chang Yao and Yu-Chu Chang Huang. The signatory for Jiali Xiao was Jiali Xiao. The contract date was November 14, 2025.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has records that the buyer Jiali Xiao purchased one property in one transaction for a total of $3.2 million and has no record it sold any properties over the past 24 months.
The seller Ho Chu Chang Yao had not purchased any other properties and had not sold any properties over the same time period. The former owners according to the Department of Housing Preservation and Development includes Ho Chu Yao, head officer and Yu Chu Huang, officer.

The property

The mixed-use building with 5 residential units in Flushing has 3,564 square feet of built space and 1,040 square feet of additional air rights for a total buildable of 4,597 square feet according to a PincusCo analysis of city data. The parcel has frontage of 18 feet and is 100 feet deep with a total lot size of 1,892 square feet. The zoning is R6 which allows for up to 2.43 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $673,600.

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 received $150 in OATH penalties 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 Flushing, The bulk, or 45 percent of the 37.7 million square feet of commercial built space are elevator buildings, with specialty buildings next occupying 20 percent of the space. In sales, Flushing has 2.2 times the average sales volume among other neighborhoods with $687.6 million in sales volume in the last two years and is the 3rd highest in Queens. For development, Flushing has 1.7 times the average amount of major developments relative to other neighborhoods and is the 3rd highest in Queens. It had 2.7 million square feet of commercial and multi-family construction under development in the last two years, which represents 7 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of five of the 17 commercial properties representing 127,338 square feet of the 164,745 square feet. The largest owner is Hui Ian Cheng, followed by Xi Zhao and then Morris Schreiber.
There are no active new building construction projects on this tax block.

The majority, or 45 percent of the 164,745 square feet of built space are elevator buildings, with mixed-use buildings next occupying 22 percent of the space.

The buyer

The PincusCo database currently indicates that Jiali Xiao owned at least one commercial property with five residential units in New York City with 4,130 square feet and a city-determined market value of $1 million. (Market value is typically about 50% of actual value.) The portfolio consists of at least a single mixed-use property. It is located in Queens.

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