Brisa Builders Purchases Development Site From Olnick Organization For $9.1 Million In Bronx
Undercliff Avenue
$9,100,000
$320/SF
Building Size
28,413 SF
Asset Type
Development Site
Closing
Jul 29, 2026
AI
This development site located on Undercliff Avenue in the Bronx has been sold for a total transaction amount of $9,100,000. The property encompasses a total built square footage of 142,349, setting the price per square foot at $63.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $9,100,000
- Address: Undercliff Avenue
- Market: Bronx
- Buyer: Brisa Builders
- Seller: Olnick Organization
- Broker Representatives: Mitchel Flaherty, Brian Whelan, Jonathan Auerbach & Jake Shapiro - Ripco
The transaction was facilitated by broker representatives Mitchel Flaherty, Brian Whelan, Jonathan Auerbach, and Jake Shapiro from Ripco, highlighting their role in managing the deal between Brisa Builders and Olnick Organization.
Players
Bronx Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.74%
Cash-on-Cash
-0.50%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93