Updated Jul 17, 2025
Jainish Radadia Purchases Development Site At 223 West 29th Street For $6.7M With Brokers Michael Weinstein Matt Fotis Colton Traynham
223 West 29th Street
$6,700,000
$2,897/SF
Building Size
2,312 SF
Asset Type
Development Site
Closing
Jul 10, 2025
About this deal
AI
The development site located at 223 West 29th Street in Chelsea, Manhattan has been sold for $6,700,000. The property encompasses a total of 20,815 square feet, resulting in a price per square foot of $321.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $6,700,000
- Address: 223 West 29th Street
- Market: Chelsea, Manhattan
- Building Square Feet (BSF): 20,815
- Price Per Building Square Foot (PPBSF): $321
- Buyer: Jainish Radadia
- Seller: Mark Koch
- Brokers: Matt Fotis, Colton Traynham & Michael Weinstein - Marcus & Millichap
The transaction involved Jainish Radadia as the buyer and Mark Koch as the seller, with representation provided by brokers Matt Fotis, Colton Traynham, and Michael Weinstein from Marcus & Millichap.
Players
New York 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
2.37%
Cash-on-Cash
-0.68%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93