Simkho Aranbayev pays $14M for two properties in Jackson Heights

Simkho Aranbayev, Gershon Baturov, and Aron Baturov through the entity 8302 Sa LLC paid $14 million to Susan Ting through the entity Jackson Ht. Roosevelt Development Corp. for the 10-unit mixed-use building at 37-63 83rd Street in Jackson Heights, Queens. The expected use is cash flowing.
The deal closed on March 9, 2026 and was recorded on March 23, 2026. The building, which is divided into two commercial condominium units, one with 10 residential units and one with an office unit, have 22,793 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $614 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 signatory for Susan Ting was Susan Ting. The signatory for buyers Simkho Aranbayev , Gershon Baturov , and Aron Baturov was Simkho Aranbayev. The contract date was November 20, 2023.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has records that the buyer 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 $6.9 million over the past 24 months.
The seller Susan Ting had not purchased any other properties and had not sold any properties over the same time period.

The property

The office and residential condo building in Jackson Heights has 22,793 square feet of built space according to a PincusCo analysis of city data. The parcel has a total lot size of 14,805 square feet. The city-designated market value for the property in 2022 is $3.2 million.

Transaction Participants

Peter Young at Ginsburg & Misk, LLP participated in the transaction on behalf of the buyer .

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the properties for the past 24 months. In addition, according to city public data, the properties have 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 Jackson Heights, The bulk, or 42 percent of the 16.4 million square feet of commercial built space are elevator buildings, with walkup buildings next occupying 18 percent of the space. In sales, Jackson Heights has 1.3 times the average sales volume among other neighborhoods with $424.3 million in sales volume in the last two years and is the 4th highest in Queens. For development, Jackson Heights has had very little major development activity relative to other neighborhoods.It had 320,374 square feet of commercial and multi-family construction under development in the last two years, which represents 2 percent of the neighborhood’s built space.

The block

There are no active new building construction projects on this tax block.

The majority, or 82 percent of the 221,326 square feet of built space are walkup buildings, with retail buildings next occupying 10 percent of the space.

The seller

The PincusCo database currently indicates that Susan Ting owned at least two commercial properties with 51 residential units in New York City with 68,193 square feet and a city-determined market value of $11.8 million. (Market value is typically about 50% of actual value.) The portfolio has $8.5 million in debt, borrowed from First National Bank of Long Island. Within the portfolio, the bulk, or 97 percent of the 68,193 square feet of built space are elevator properties, with D6 properties next occupying 3 percent of the space. They are all located in Queens.

The buyer

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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