Muhammed Ali pays $4.5M to Charles Gammal for mixed-use in Bay Ridge

Muhammed Ali through the entity Two Brothers 5th Avenue LLC paid $4.5 million to Charles Gammal through the entity CCSM LLC for the two-unit mixed-use building (S9) at 7626 5th Avenue in Bay Ridge, Brooklyn and two-unit mixed-use building (S9) at 7702 5th Avenue in Bay Ridge, Brooklyn. The expected use is cash flowing.
The deal closed on March 17, 2026 and was recorded on March 20, 2026. The two properties have 8,478 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $530 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 Charles Gammal was Charles Gammal. The signatory for Muhammed Ali was Muhammed A. Ali. The contract date was March 17, 2026.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has records that the buyer Muhammed Ali purchased one property in one transaction for a total of $1.5 million and sold one property in one transaction for a total of $2.3 million over the past 24 months.
The seller Charles Gammal had not purchased any other properties and had not sold any properties over the same time period. The former owners according to the Department of Housing Preservation and Development includes Milton Sonneberg, head officer and Charles Gammal, shareholder. The business entity is Ccsm Llc.

The property

The mixed-use building with 2 residential units in Bay Ridge has 8,478 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 21 feet and is 94 feet deep with a total lot size of 2,024 square feet. The zoning is R6B which allows for up to 2 times floor area ratio (FAR) for residential with inclusionary housing. The city-designated market value for the property in 2022 is $721,600.

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 received $1,280 in ECB penalties and $1,280 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 Bay Ridge, The bulk, or 30 percent of the 21 million square feet of commercial built space are elevator buildings, with walkup buildings next occupying 28 percent of the space. In sales, Bay Ridge has near average sales volume among other neighborhoods with $314.4 million in sales volume in the last two years and is the 25th highest in Brooklyn. For development, Bay Ridge has had very little major development activity relative to other neighborhoods.It had 191,084 square feet of commercial and multi-family construction under development in the last two years, which represents 0.91 percent of the neighborhood’s built space. There were 35 pre-foreclosure suit filed among other mixed-use buildings in the past 12 months.

The block

On the tax block of 7626 5th Avenue, PincusCo has identified the owners of seven of the 29 commercial properties representing 65,477 square feet of the 151,543 square feet. The largest owner is William Lerner, followed by Paul Belli and then Patrick Golden.
On the tax block, there was one new building construction project filed totaling 3,057 square feet. It is a two-unit, 3,057 square-foot residential (R-3) building submitted by Guang Wei Pan with plans filed August 23, 2017 and it has not been permitted yet.

The majority, or 52 percent of the 151,543 square feet of built space are mixed-use buildings, with walkup buildings next occupying 33 percent of the space.

The seller

The PincusCo database currently indicates that Charles Gammal owned at least one commercial property in New York City with 44,000 square feet and a city-determined market value of $6.2 million. (Market value is typically about 50% of actual value.) The portfolio has $7 million in debt, borrowed from JPMorgan Chase. The portfolio consists of at least a single office property. It is located in Bronx.

The buyer

The PincusCo database currently indicates that Muhammed Ali owned at least five commercial properties with 13 residential units in New York City with 27,009 square feet and a city-determined market value of $3.9 million. (Market value is typically about 50% of actual value.) Within the portfolio, the bulk, or 60 percent of the 27,009 square feet of built space are mixed-use properties, with retail properties next occupying 40 percent of the space. They are all located in Brooklyn.

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