Xi Ting Zhang with partners pays $7.1M for retail in Flushing, sold for $5.1M in 2024

Xi Ting Zhang, Yu Zhen Li, and Wen Ting Zhang through the entity Caghny LLC paid $7.1 million to Xiang Yu Cao through the entity Guang Rui LLC for the retail condo at 136-18 Maple Avenue in Flushing, Queens.

The deal closed on April 21, 2025 and was recorded on May 14, 2025. The property has 4,030 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $1,761 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 June 10, 2024, for $5.1 million. The signatory for Xiang Yu Cao was Xiang Yu Cao. The signatory for Xi Ting Zhang , Yu Zhen Li , and Wen Ting Zhang was Xi Ting Zhang. The contract date was December 13, 2024.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Xi Ting Zhang had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Xiang Yu Cao purchased one property in one transaction for a total of $5.1 million and had not sold any properties over the same time period.

The property

The retail condo in Flushing has 4,030 square feet of built space according to a PincusCo analysis of city data. The parcel has a total lot size of 4,030 square feet. 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 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 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 2.5 times the average sales volume among other neighborhoods with $671.4 million in sales volume in the last two years and is the 2nd highest in Queens. For development, Flushing has 1.8 times the average amount of major developments relative to other neighborhoods and is the 2nd highest in Queens. It had 2.1 million square feet of commercial and multi-family construction under development in the last two years, which represents 6 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of three of the 14 commercial properties representing 290,132 square feet of the 359,525 square feet. The largest owner is Nuverse Advisors, followed by Vincent Young and then Renle Xia.
There are no active new building construction projects on this tax block.

The majority, or 80 percent of the 359,525 square feet of built space are elevator buildings, with retail buildings next occupying 10 percent of the space.

The seller

The PincusCo database currently indicates that Xiang Yu Cao owned at least three commercial properties with 114 residential units in New York City with 109,938 square feet and a city-determined market value of $15.3 million. (Market value is typically about 50% of actual value.) The portfolio has $20 million in debt, borrowed from Preferred Bank. Within the portfolio, the bulk, or 88 percent of the 109,938 square feet of built space are elevator properties, with office properties next occupying 12 percent of the space. They are all located in Queens.

The buyer

The PincusCo database currently indicates that Yu Zhen Li owned at least one commercial property with two residential units in New York City with 3,437 square feet and a city-determined market value of $1.8 million. (Market value is typically about 50% of actual value.) The portfolio consists of at least a single B3 property. It is located in Queens.

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