https://newark.legistar.com/Gateway.aspx?M=LD&From=RSS&ID=8060384&GUID=DACAE923-A9CE-4E6E-A8CA-18E9203D38C3Legistar15https://newark.legistar.com/Gateway.aspx?M=LD&From=RSS&ID=8060384&GUID=DACAE923-A9CE-4E6E-A8CA-18E9203D38C3DACAE923-A9CE-4E6E-A8CA-18E9203D38C3-2026-07-09-18-43-34Title: Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: To rehabilitate the existing two-unit property: one (1) unit will be owner occupied, and one (1) unit will be rented to an income qualified household at 40% AMI Entity Name: Newark King Realty LLC Entity Address: 557 Clinton Avenue, Newark, New Jersey 07108 Sale Amount: $98,430.00 Cost Basis: (X) $17.00 PSF ( ) Negotiated ( ) N/A ( ) Other Assessed Amount: $164,000.00 Appraised Amount: N/A Contract Period: To commence within three (3) months and be completed within eighteen (18) months following transfer of property ownership from the City to the Redeveloper Contract Basis: ( ) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS ( ) Fair & Open ( ) No Reportable Contributions ( ) RFP ( ) RFQ (X) Private Sale ( ) Grant ( ) Sub-recipient ( ) n/a List of Property: (Address/Block/Lot/Ward) 26-28 Hedden Terrace / Block 3024 / Lot 23 / South Ward Thu, 09 Jul 2026 18:43:34 GMT