RNS Holdings NY pays $3.2M for possible dev site in East Flatbush

Developer RNS Holdings NY through the entity Govli Holdings LLC paid $3.2 million to Simkho Aranbayev and Nathan Pinkhasov through the entity 8302 Sa LLC for the retail building (K1) at 9508 Church Avenue in East Flatbush, Brooklyn. The expected use is ground up development.
The deal closed on February 13, 2026 and was recorded on February 26, 2026. The property has 6,900 square feet of built space and 12,560 square feet of additional air rights for a total buildable of 19,440 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $471 and the price per buildable square foot is $167 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 7, 2017, for $2.7 million. The signatory for Simkho Aranbayev and Nathan Pinkhasov was Simkho Aranbayev and Nathan Pinkhasov. The signatory for RNS Holdings NY was Shiraz Sanjana . The contract date was January 28, 2026.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has records that the buyer RNS Holdings NY purchased eight properties in two transactions for a total of $10.3 million and has no record it sold any properties over the past 24 months.
The seller Simkho Aranbayev purchased 10 properties in 10 transactions for a total of $36.3 million and sold two properties in two transactions for a total of $6.4 million over the same time period. The 6,900-square-foot property generated revenue of $262,109 or $38 per square foot, according to the most recent income and expense figures.

The property

The retail building in East Flatbush has 6,900 square feet of built space and 12,560 square feet of additional air rights for a total buildable of 19,440 square feet according to a PincusCo analysis of city data. The parcel has frontage of 80 feet and is 100 feet deep with a total lot size of 8,000 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 $994,000.

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 East Flatbush, The bulk, or 32 percent of the 42.6 million square feet of commercial built space are elevator buildings, with walkup buildings next occupying 24 percent of the space. In sales, East Flatbush has 1.6 times the average sales volume among other neighborhoods with $504.7 million in sales volume in the last two years and is the 13th highest in Brooklyn. For development, East Flatbush has 1.2 times the average amount of major developments relative to other neighborhoods and is the 8th highest in Brooklyn. It had 1.9 million square feet of commercial and multi-family construction under development in the last two years, which represents 4 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of four of the nine commercial properties representing 30,384 square feet of the 50,300 square feet. The largest owner is Mark Weinberger, followed by Platinum Realty Associates and then City Of New York.
There are no active new building construction projects on this tax block.

The majority, or 47 percent of the 50,300 square feet of built space are walkup buildings, with retail buildings next occupying 34 percent of the space.

The seller

The PincusCo database currently indicates that Simkho Aranbayev owned at least 38 commercial properties with 48 residential units in New York City with 266,844 square feet and a city-determined market value of $56 million. (Market value is typically about 50% of actual value.) The portfolio has $30.3 million in debt, with top three lenders as Signature Bank, Provident Bank, and Union Savings Bank respectively. Within the portfolio, the bulk, or 57 percent of the 266,844 square feet of built space are retail properties, with mixed-use properties next occupying 36 percent of the space. The bulk, or 41 percent of the built space, is in Queens, with Brooklyn next at 38 percent of the space.

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