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Undercliff Avenue

Brisa Builders Purchases Development Site From Olnick Organization For $9.1 Million In Bronx
SOLDDevelopment Site

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:

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

Brian Whelan

Ripco

Broker

$141.1M

vol

32 deals

Broker
BB
Brisa BuildersBuyer
OO
Olnick OrganizationSeller

Bronx Development Site Market Snapshot

Boundary boundary · Development Site · Sale transactions

Loading comparables…

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