Shaomei Xu pays $9M for adult care facility in Flushing

Shaomei Xu through the entity Pegasus Holdings Ny LLC paid $9 million to Han-Cheng Chen and Yung Chang Wang through the entity Hillary Realty LLC for the Livingwell Day Care Center adult care facility building (I7) at 137-81 Northern Boulevard in Flushing, Queens. The expected use is cash flowing. The facility was known in Chinese, according to a translation of the signage, as the Beautiful Life Adult Day Care Center.
The deal closed on February 13, 2026 and was recorded on February 25, 2026. The property has 9,481 square feet of built space and 2,650 square feet of additional air rights for a total buildable of 12,150 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $949 and the price per buildable square foot is $740 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 signatories for Han-Cheng Chen and Yung Chang Wang were Han-Cheng Chen. The signatory for Shaomei Xu was Shaomei Xu. The contract date was May 6, 2025.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has no record that the buyer Shaomei Xu had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Han-Cheng Chen had not purchased any other properties and had not sold any properties over the same time period.

The property

The specialty building in Flushing has 9,481 square feet of built space and 2,650 square feet of additional air rights for a total buildable of 12,150 square feet according to a PincusCo analysis of city data. The parcel has frontage of 48 feet and is 100 feet deep with a total lot size of 5,000 square feet. The lot is irregular. 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 $2.3 million.

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

For the tax lot building, it received its initial certificate of occupancy on October 3, 2017. 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 one of the 22 commercial properties representing 7,296 square feet of the 132,029 square feet. The identified owner is Yan Ci Chen.
On the tax block, there was one new building construction project filed totaling 40,175 square feet. It is a 45-unit, 40,175 square-foot residential (R-3) building submitted by Wy Holding with plans filed April 22, 2021 and permitted May 27, 2022.

The majority, or 50 percent of the 132,029 square feet of built space are mixed-use buildings, with elevator buildings next occupying 38 percent of the space.

Direct link to Acris document. link