Salvatore Prainito pays $4.7M to Simkho Aranbayev for retail in Richmond Hill

Salvatore Prainito through the entity P&R Jamaica Ave. LLC paid $4.7 million to Simkho Aranbayev through the entity 115-20 Jam LLC for the retail building (K7) at 115-20 Jamaica Avenue in Richmond Hill, Queens. The expected use is cash flowing.
The deal closed on May 6, 2026 and was recorded on May 19, 2026. The property has 10,315 square feet of built space and 6,333 square feet of additional air rights for a total buildable of 16,668 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $455 and the price per buildable square foot is $281 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 October 13, 2022, for $2.4 million. The signatory for Simkho Aranbayev was Peter Young . The signatory for Salvatore Prainito was Salvatore Prainito. The contract date was February 9, 2026.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has no record that the buyer Salvatore Prainito had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Simkho Aranbayev purchased 11 properties in 10 transactions for a total of $48.5 million and sold two properties in two transactions for a total of $6.9 million over the same time period. The 10,315-square-foot property generated revenue of $446,433 or $43 per square foot, according to the most recent income and expense figures.

The property

The retail building in Richmond Hill has 10,315 square feet of built space and 6,333 square feet of additional air rights for a total buildable of 16,668 square feet according to a PincusCo analysis of city data. The parcel has frontage of 51 feet and is 115 feet deep with a total lot size of 5,556 square feet. The lot is irregular. The zoning is R6A which allows for up to 3 times floor area ratio (FAR) for residential with inclusionary housing. The city-designated market value for the property in 2022 is $2.4 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 received $1,200 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 Richmond Hill, The bulk, or 26 percent of the 6.4 million square feet of commercial built space are industrial buildings, with specialty buildings next occupying 20 percent of the space. In sales, Richmond Hill has had very little sales volume relative to other neighborhoods with $126.6 million in sales volume in the last two years. For development, Richmond Hill has had very little major development activity relative to other neighborhoods.It had 200,267 square feet of commercial and multi-family construction under development in the last two years, which represents 3 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of two of the seven commercial properties representing 50,095 square feet of the 112,641 square feet. The two identified owners are Simkho Aranbayev and Radoje Lazic.
There are no active new building construction projects on this tax block.

The majority, or 43 percent of the 112,641 square feet of built space are retail buildings, with walkup buildings next occupying 35 percent of the space.

The seller

The PincusCo database currently indicates that Simkho Aranbayev owned at least 40 commercial properties with 59 residential units in New York City with 293,245 square feet and a PincusCo-determined asset value of $133.5 million. 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 53 percent of the 293,245 square feet of built space are retail properties, with mixed-use properties next occupying 33 percent of the space. The bulk, or 44 percent of the built space, is in Queens, with Brooklyn next at 36 percent of the space.

The buyer

The PincusCo database currently indicates that Salvatore Prainito owned at least one commercial property with seven residential units in New York City with 5,214 square feet and a PincusCo-determined asset value of $1.5 million. The portfolio consists of at least a single walkup property.

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