https://newark.legistar.com/Gateway.aspx?M=LD&From=RSS&ID=8030756&GUID=DE203C19-DDD8-46EE-8DB3-E1F3DB6F0F38Legistar15https://newark.legistar.com/Gateway.aspx?M=LD&From=RSS&ID=8030756&GUID=DE203C19-DDD8-46EE-8DB3-E1F3DB6F0F38DE203C19-DDD8-46EE-8DB3-E1F3DB6F0F38-2026-05-15-15-55-18Title: Dept./ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing (X) Amending Type of Service: Subordination Agreement Purpose: An Agreement to Subordinate the City of Newark's Reverter Rights by entering into a First Amendment to Agreement for the Sale and Redevelopment of Land and a Subordination and Recognition Agreement in order to permit the Redeveloper to obtain the financing necessary for the development of a new five-story mixed-use building Entity Name: S.A.T. Urban Renewal Entity, LLC Entity Address: 156 Elizabeth Avenue, Newark, New Jersey 07108 Sale Amount: $55,300.00 Cost Basis: ( X ) $ 10.00 PSF ( ) Negotiated (X) N/A ( ) Other: Assessed Amount: N/A Appraised Amount: N/A Contract Period: Not Applicable Contract Basis: ( ) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS ( ) Fair & Open ( ) No Reportable Contributions ( ) RFP ( ) RFQ ( ) Private Sale ( ) Grant ( ) Sub-recipient (X) n/a List of Property: (Address/Block/Lot/Ward) 142-144 Elizabeth Avenue/Block 2776/ Lot 8.0Fri, 15 May 2026 15:55:18 GMT