Gourianov of Kalmon Dolgin arranges $1.85m shopping center

In a transaction valued at $1.85 million, Kalmon Dolgin Affiliates' Dmitri Gourianov has arranged the sale of a two-story, 14,000 s/f shopping center at 953 Cypress Ave. in the Ridgewood neighborhood according to Neil Dolgin, executive vice president of Kalmon Dolgin. Gourianov represented the buyer, My Ridgewood Realty, LLC, and the sellers, the Costarelli family, in the transaction. The property is fully leased to a furniture store, discount merchandise outlet and money transfer business. It includes 12,500 s/f of retail space on the first floor and 1,500 s/f of office space on the second floor. My Ridgewood Realty leased the space as a warehouse three years ago with an option to buy, and redeveloped the property into a shopping center. After fully leasing the space to multiple tenants, they exercised their option to purchase, which includes 11,000 s/f of additional air rights for future development. Gourianov of Kalmon Dolgin also arranged the original lease for My Ridgewood Realty. Kalmon Dolgin Affiliates is a 104-year-old, Brooklyn-based real estate firm. In addition to providing brokerage and management services, Kalmon Dolgin has acquired $300 million of its own real estate assets within the past year alone, primarily industrial and medical/office properties.