Title
7R5 FINANCE
Dept/ Agency: Finance
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Purpose: Stipulation of Settlements for Tax Appeals
List of Property:
(Tax Payer/Address/Block/Lot/Ward/Assmnt./Year/Refund Amount)
Rosa Luxury Apartments/316-318 Mt Prospect Avenue/558/4/North/2013/$600,000/-$8,873.77
Rosa Luxury Apartments/316-318 Mt Prospect Avenue/558/4/North/2014/$600,000/-$9,318.51
Rosa Luxury Apartments/316-318 Mt Prospect Avenue/558/4/North/2015/$600,000/-$9,943.55
First King Properties LLC/175-199 First Street/1913/2/Central/2013/$27,500,000/-$73,825.00
First King Properties LLC/175-199 First Street/1913/2/Central/2014/$26,000,000/-$124,040.00
First King Properties LLC/175-199 First Street/1913/2/Central/2015/$25,000,000/-$165,450.00
David Rodriguez and Luis Lipstein /303-313 Mt Prospect Avenue/559/10.01/North/2013/$3,488,800/-$66,743.71
David Rodriguez and Luis Lipstein /303-313 Mt Prospect Avenue/559/10.01/North/2014/$3,388,800/$0.00
Islamic Society of Essex County/20-24 Branford Place/57/161/Central/2009/$1,000,000/-$2,739.00
Islamic Society of Essex County/20-24 Branford Place/57/161/Central/2010/$1,000,000/-$3,180.00
Islamic Society of Essex County/20-24 Branford Place/57/161/Central/2011 (F)/$1,000,000/-$3,328.00
Islamic Society of Essex County/20-24 Branford Place/57/161/Central/2012 (F)/$1,000,000/-$3,452.00
Centre Market Building LLC /1088-1132 Raymond Boulevard/150/4/East/2009/$52,006,500/$0.00
Centre Market Building LLC /1088-1132 Raymond Boulevard/150/4/East/2010/$46,410,500/-$177,952.80
Centre Market Building LLC /1088-1132 Raymond Boulevard/150/4/East/2011/$46,410,500/-$186,234.88
Centre Market Building LLC /1088-1132 Raymond Boulevard/150/4/East/2012/$42,000,000/-$345,424.38
Centre Market Building LLC /1088-1132 Raymond Boulevard/150/4/East/2013/$58,005,700/$0.00
Centre Market Building LLC /1088-1132 Raymond Boulevard/150/4/East/2014/$55,300,000/-$83,903.76
Jose & Margarita Montenegro/49 Warwick Street/944/33/East/2013/$375,000/-$1,742.27
Jose & Margarita Montenegro/49 Warwick Street/944/33/East/2014(F)/$375,000/-$1,829.59
Jo-Jo Realty Corp/25 Wall Street /2036/27/East/2013/$413,900/-$2,953.00
Jo-Jo Realty Corp/25 Wall Street /2036/27/East/2014/$413,900/-$3,101.00
Jo-Jo Realty Corp/25 Wall Street /2036/27/East/2015/$413,900/-$3,309.00
Jo-Jo Realty Corp/25 Wall Street /2036/27/East/2016(F)/$413,900/-$3,309.00
Harbor Real Estate Management/20-24 Woodside Place /610/41/North/2013/$260,700/$0.00
Harbor Real Estate Management/20-24 Woodside Place /610/41/North/2014/$220,000/-$1,262.11
Harbor Real Estate Management/20-24 Woodside Place /610/41/North/2015/$220,000/-$1,346.76
Harbor Real Estate Management/20-24 Woodside Place /610/41/North/2016(F)/$220,000/-$1,346.76
Jo-Jo Realty Corp/21 Niagara Street/2036/15/East/2013/$275,000/-$3,012.06
Jo-Jo Realty Corp/21 Niagara Street/2036/15/East/2014/$250,000/-$3,938.27
Jo-Jo Realty Corp/21 Niagara Street/2036/15/East/2015/$250,000/-$4,202.43
Jo-Jo Realty Corp/21 Niagara Street/2036/15/East/2016(F)/$250,000/-$4,202.43
Mountain View Lake Investments /796 Mt. Prospect Avenue/813/63/North/2013/$600,000/-$2,950.05
Mountain View Lake Investments /796 Mt. Prospect Avenue/813/63/North/2014/$550,000/-$4,648.40
Mountain View Lake Investments /796 Mt. Prospect Avenue/813/63/North/2015/$550,000/-$4,960.19
Mountain View Lake Investments /796 Mt. Prospect Avenue/813/63/North/2016(F)/$550,000/-$4,960.19
Mulberry Capital, LLC/471-481 Mulberry Street/1189/20/East/2013/$855,000/-$17,960.15
Mulberry Capital, LLC/471-481 Mulberry Street/1189/20/East/2014/$855,000/-$18,860.28
Mulberry Capital, LLC/471-481 Mulberry Street/1189/20/East/2015/$855,000/-$20,125.34
Mulberry Capital, LLC/471-481 Mulberry Street/1189/20/East/2016 (F)/$855,000/-$20,125.34
805 Management LLC/801-807 Broadway /822/1/North/2013/$1,350,800/$0.00
805 Management LLC/801-807 Broadway /822/1/North/2014/$1,280,000/-$2,195.51
805 Management LLC/801-807 Broadway /822/1/North/2015/$1,280,000/-$2,342.77
805 Management LLC/801-807 Broadway /822/1/North/2016/$1,280,000/-$2,342.77
Manuel Abadin & Albert Avenue, LLC/45-63 Euclid Avenue/2406/12/East/2012/$708,900/$0.00
Manuel Abadin & Albert Avenue, LLC/45-63 Euclid Avenue/2406/12/East/2013/$945,000/-$3,726.69
Manuel Abadin & Albert Avenue, LLC/45-63 Euclid Avenue/2406/12/East/2014/$945,000/-$3,913.46
Manuel Abadin & Albert Avenue, LLC/45-63 Euclid Avenue/2406/12/East/2015/$945,000/-$4,175.96
Manuel Abadin & Albert Avenue, LLC/45-63 Euclid Avenue/2406/12/East/2016(F)/$945,000/-$4,175.96
Newark Stamp and Die Works/35-41 Verona Avenue/831/7/North/2013/$520,000/-$2,899.85
Newark Stamp and Die Works/35-41 Verona Avenue/831/7/North/2014/$520,000/-$3,045.18
Newark Stamp and Die Works/35-41 Verona Avenue/831/7/North/2015/$520,000/-$3,249.44
Newark Stamp and Die Works/35-41 Verona Avenue/831/7/North/2016(F)/$520,000/-$3,249.44
Manuel & Maria Abadin & Albert Avenue, LLC/107-121 Albert Avenue/2411/1/East/2012/$360,000/$0.00
Manuel & Maria Abadin & Albert Avenue, LLC/107-121 Albert Avenue/2411/1/East/2013/$685,000/-$3,413.67
Manuel & Maria Abadin & Albert Avenue, LLC/107-121 Albert Avenue/2411/1/East/2014/$685,000/-$3,584.76
Manuel & Maria Abadin & Albert Avenue, LLC/107-121 Albert Avenue/2411/1/East/2015/$685,000/-$3,825.20
Manuel & Maria Abadin & Albert Avenue, LLC/107-121 Albert Avenue/2411/1/East/2016(F)/$685,000/-$3,825.20
Henrique & Beatriz Silva /152 South Street /927/31/East/2012/$200,000/-$1,032.15
Elizabeth Estates, LLC/643-649 Elizabeth Avenue/3676/5/South/2014/$1,000,000/-$3,101.00
41-43 Pacific Associates LLC/41-43 Pacific Street/938/24/East/2009/$400,000/-$4,689.17
41-43 Pacific Associates LLC/41-43 Pacific Street/938/24/East/2010/$400,000/-$5,444.16
41-43 Pacific Associates LLC/41-43 Pacific Street/938/24/East/2011/$400,000/-$5,697.54
41-43 Pacific Associates LLC/41-43 Pacific Street/938/24/East/2012(F)/$400,000/-$5,909.82
Joseph & Julia Huang/107-111 Malvern Street/954/31/East/2013/$500,000/-$2,321.06
Joseph & Julia Huang/107-111 Malvern Street/954/31/East/2014/$475,000/-$3,212.64
Joseph & Julia Huang/107-111 Malvern Street/954/31/East/2015 (F)/$475,000/-$3,428.12
Joseph & Julia Huang/107-111 Malvern Street/954/31/East/2016 (F)/$475,000/-$3,428.12
Wildcat Partners LLC, prior owner to AP Belmont Associate/293 Chestnut Street/955/66/East/2012/$197,400/-$1,035.60
Al Nour LLC/249-251 Oliver Street/956/30/East/2013/$913,700/$0.00
Al Nour LLC/249-251 Oliver Street/956/30/East/2014/$850,000/-$1,975.34
Al Nour LLC/249-251 Oliver Street/956/30/East/2015/$850,000/-$2,107.83
Al Nour LLC/249-251 Oliver Street/956/30/East/2016 (F)/$850,000/-$2,107.83
Helena Oliveira/82 Nichols Street/958/66/East/2013/$390,000/-$1,296.37
Helena Oliveira/82 Nichols Street/958/66/East/2014/$390,000/-$1,361.34
Helena Oliveira/82 Nichols Street/958/66/East/2015/$390,000/-$1,452.65
Helena Oliveira/82 Nichols Street/958/66/East/2016 (F)/$390,000/-$1,452.65
Fernando & Maria DaCruz/70 Napoleon Street/1004/44/East/2012/$153,100/-$2,071.20
S Rodrigues & V Santana/497 Mulberry Street/1190/32.02/East/2011/$350,200/-$1,597.44
S Rodrigues & V Santana/497 Mulberry Street/1190/32.02/East/2012/$350,200/-$1,656.96
Ismeal Gonzalez/142 Emmett Street/1192/30/East/2010/$215,000/-$2,098.80
Ismeal Gonzalez/142 Emmett Street/1192/30/East/2011/$215,000/-$2,196.48
Ismeal Gonzalez/142 Emmett Street/1192/30/East/2012(F)/$215,000/-$2,278.32
3 Gateway Center Properties, LLC/94-110 Mulberry Street/151/122/East/2015/$60,250,000/-$66,180.00
Second Avenue Newark, LLC & 99 101 Second Avenue/99-101 Second Avenue/579.01/35/North/2012/$448,900/-$4,418.56
Second Avenue Newark, LLC & 99 101 Second Avenue/99-101 Second Avenue/579.01/35/North/2013/$600,000/-$7,435.65
Second Avenue Newark, LLC & 99 101 Second Avenue/99-101 Second Avenue/579.01/35/North/2014/$600,000/-$7,808.32
Second Avenue Newark, LLC & 99 101 Second Avenue/99-101 Second Avenue/579.01/35/North/2015/$600,000/-$8,332.06
Second Avenue Newark, LLC & 99 101 Second Avenue/99-101 Second Avenue/579.01/35/North/2016 (F)/$600,000/-$8,332.06
793 Broadway, Inc /793-799 Broadway /772/28/North/2012/$939,900/$0.00
793 Broadway, Inc /793-799 Broadway /772/28/North/2013/$1,345,600/-$12,720.00
793 Broadway, Inc /793-799 Broadway /772/28/North/2014/$1,345,600/-$13,312.00
793 Broadway, Inc /793-799 Broadway /772/28/North/2015/$1,345,600/-$13,808.00
405 No Fifth Street, Inc/405-407 Fifth Street/1950/47/West/2012/$341,400/$0.00
405 No Fifth Street, Inc/405-407 Fifth Street/1950/47/West/2013/$685,000/-$2,356.49
405 No Fifth Street, Inc/405-407 Fifth Street/1950/47/West/2014/$685,000/$0.00
405 No Fifth Street, Inc/405-407 Fifth Street/1950/47/West/2015/$685,000/$0.00
405 No Fifth Street, Inc/409 Fifth Street/1950/49/West/2012/$341,500/$0.00
405 No Fifth Street, Inc/409 Fifth Street/1950/49/West/2013/$685,000/-$2,356.49
405 No Fifth Street, Inc/409 Fifth Street/1950/49/West/2014/$685,000/$0.00
405 No Fifth Street, Inc/409 Fifth Street/1950/49/West/2015/$685,000/$0.00
405 No Fifth Street, Inc/411-413 Fifth Street/1950/51/West/2012/$341,600/$0.00
405 No Fifth Street, Inc/411-413 Fifth Street/1950/51/West/2013/$685,000/-$2,356.49
405 No Fifth Street, Inc/411-413 Fifth Street/1950/51/West/2014/$685,000/$0.00
405 No Fifth Street, Inc/411-413 Fifth Street/1950/51/West/2015/$685,000/$0.00
Plagro Realty, Inc./44-55 Riverside Avenue R/614/57/North/2011/$600,000/-$4,709.12
Plagro Realty, Inc./44-55 Riverside Avenue R/614/57/North/2012/$600,000/-$4,884.58
Plagro Realty, Inc./44-55 Riverside Avenue R/614/57/North/2013/$700,000/-$5,398.08
Plagro Realty, Inc./44-55 Riverside Avenue R/614/57/North/2014/$650,000/-$7,219.13
Plagro Realty, Inc./44-55 Riverside Avenue R/614/57/North/2015/$650,000/-$7,703.35
Plagro Realty, Inc./44-55 Riverside Avenue R/614/57/North/2016 (F)/$650,000/-$7,703.35
NJ Health Care Employers Pension Fund /1-25 Alling Street/153/1/East/2009/$4,417,600/-$24,168.94
NJ Health Care Employers Pension Fund /1-25 Alling Street/153/1/East/2010/$4,417,600/-$28,060.32
NJ Health Care Employers Pension Fund /1-25 Alling Street/153/1/East/2011/$4,417,600/-$29,366.27
NJ Health Care Employers Pension Fund /1-25 Alling Street/153/1/East/2012/$4,417,600/-$30,460.45
NJ Health Care Employers Pension Fund /1-25 Alling Street/153/1/East/2013/$5,742,000 /$0.00
NJ Health Care Employers Pension Fund /1-25 Alling Street/153/1/East/2014/$5,742,000 /$0.00
Randall Rossilli/100-116 Verona Avenue/819/7/North/2012/$725,000/$0.00
Randall Rossilli/100-116 Verona Avenue/819/7/North/2013/$1,000,000/-$9,452.55
Randall Rossilli/100-116 Verona Avenue/819/7/North/2014/$1,000,000/-$9,926.30
Randall Rossilli/100-116 Verona Avenue/819/7/North/2015/$1,000,000/-$10,592.11
Sumo Realty Inc/225-231 NJRR Ave/919/5/East/2010/$173,400/$0.00
Sumo Realty Inc/225-231 NJRR Ave/919/5/East/2011/$173,400/$0.00
Sumo Realty Inc/225-231 NJRR Ave/919/5/East/2012/$173,400/$0.00
Sumo Realty Inc/233-239 NJRR Ave /919/1/East/2010/$375,000/-$5,622.24
Sumo Realty Inc/233-239 NJRR Ave /919/1/East/2011/$375,000/-$5,883.90
Sumo Realty Inc/233-239 NJRR Ave /919/1/East/2012/$350,000/-$6,966.14
Sumo Property Management LLC/32-38 Fenwick Street/3511/26/South/2012/$691,300/$0.00
Sumo Property Management LLC/40-58 Fenwick Street/3511/30/South/2012/$540,200/$0.00
Sumo Property Management LLC/37-47 Legal Street/3511/36/South/2012/$2,595,200/-$6,904.00
BB 254 MP LLC /252-258 Mt Prospect Avenue/532/1/North/2013/$1,855,000/-$8,401.29
BB 254 MP LLC /252-258 Mt Prospect Avenue/532/1/North/2014/$1,855,000/-$2,697.87
Sumo Prime Corp. /101-103 Van Buren Street/1991/24/East/2008/$307,700/-$592.57
Sumo Prime Corp. /101-103 Van Buren Street/1991/24/East/2009(F)/$307,700/-$624.49
Sumo Prime Corp. /101-103 Van Buren Street/1991/24/East/2010(F)/$307,700/-$725.04
Sumo Prime Corp. /41 Van Buren Street/1999/12/East/2008/$187,100/-$1,689.35
Sumo Prime Corp. /41 Van Buren Street/1999/12/East/2009(F)/$187,100/-$1,780.35
Sumo Prime Corp. /41 Van Buren Street/1999/12/East/2010(F)/$187,100/-$2,067.00
BB 260 MP, LLC/260-262 Mt Prospect Avenue/558/30/North/2013/$955,700/-$17,658.94
BB 260 MP, LLC/260-262 Mt Prospect Avenue/558/30/North/2014/$955,700/-$7,352.47
AC Prime Assets, LLC/526-530 South Fourteenth/331/33/West/2013/$360,000/-$2,610.45
AC Prime Assets, LLC/526-530 South Fourteenth/331/33/West/2014/$360,000/-$2,741.28
AC Prime Assets, LLC/526-530 South Fourteenth/331/33/West/2015(F)/$360,000/-$2,925.16
AC Prime Assets, LLC/526-530 South Fourteenth/331/33/West/2016(F)/$360,000/-$2,925.16
Tae Soo Kim/14 Park Street/125/101/Central/2011/$380,000/-$2,196.48
Tae Soo Kim/14 Park Street/125/101/Central/2012/$380,000/-$2,278.32
Tae Soo Kim/14 Park Street/125/101/Central/2013/$425,000/-$800.26
Tae Soo Kim/14 Park Street/125/101/Central/2014/$425,000/-$840.37
W T Apartments LLC/85-147 Prince Street/2501/37/Central/2012/$2,379,600/-$19,345.01
Verizon New Jersey, Inc. d/b/a NJBT Co. /59-69 Bloomfield Avenue/515.01/44/Central/2012/$1,400,000/-$13,808.00
Sasson Realty Co/835 Broad Street/57.04/111/Central/2012/$500,000/-$9,962.47
Albarracin Realty LLC/78-84 Frelinghuysen Avenue/2790/21/South/2013/$750,000/-$10,769.59
Albarracin Realty LLC/78-84 Frelinghuysen Avenue/2790/21/South/2014/$750,000/-$11,309.35
Villa Beradino, Inc. /828-830 Raymond Boulevard/2003.01/15/East/2013/$320,400/-$2,885.08
Villa Beradino, Inc. /828-830 Raymond Boulevard/2003.01/15/East/2014/$320,400/-$3,029.68
Villa Beradino, Inc. /828-830 Raymond Boulevard/2003.01/15/East/2015/$320,400/-$3,232.89
16 Irving Street, LLC/16-20 Irving Street/821/14/North/2013/$1,400,000/-$8,959.40
16 Irving Street, LLC/16-20 Irving Street/821/14/North/2014/$1,000,000/-$21,812.43
Seickel Realty Associates, LLC/348-362 Elizabeth Avenue/3546/43/South/2014/$1,450,600/-$12,242.75
Seickel Realty Associates, LLC/348-362 Elizabeth Avenue/3546/43/South/2015/$1,450,600/-$13,063.93
Lehigh Liberty Associates LLC/94-108 Frelinghuysen Avenue/2780/1/South/2008/$1,435,000/-$6,887.35
Lehigh Liberty Associates LLC/94-108 Frelinghuysen Avenue/2780/1/South/2009/$1,435,000/-$7,258.35
Lehigh Liberty Associates LLC/94-108 Frelinghuysen Avenue/2780/1/South/2010/$1,435,000/-$8,427.00
Lehigh Liberty Associates LLC/94-108 Frelinghuysen Avenue/2780/1/South/2011/$1,435,000/-$8,819.20
Lehigh Liberty Associates LLC/94-108 Frelinghuysen Avenue/2780/1/South/2012/$1,788,300/-$9,147.80
Lehigh Liberty Associates LLC/110-120 Frelinghuysen Avenue/2780/5/South/2008/$324,500/$0.00
Lehigh Liberty Associates LLC/110-120 Frelinghuysen Avenue/2780/5/South/2009/$324,500/$0.00
Lehigh Liberty Associates LLC/110-120 Frelinghuysen Avenue/2780/5/South/2010/$324,500/$0.00
Lehigh Liberty Associates LLC/110-120 Frelinghuysen Avenue/2780/5/South/2011/$324,500/$0.00
*Block 2780 Lot 1 & 5, Merged into Lot 1 in 2011.
104 Market Street RE/104 Market Street/60/23/Central/2011/$300,000/-$3,008.51
104 Market Street RE/104 Market Street/60/23/Central/2012/$300,000/-$3,120.61
104 Market Street RE/104 Market Street/60/23/Central/2013/$456,000/-$8,156.19
104 Market Street RE/104 Market Street/60/23/Central/2014/$456,000/-$8,564.96
104 Market Street RE/104 Market Street/60/23/Central/2015/$456,000/-$9,139.46
Hartz Raymond Boulevard, LP a/k/a Raymond Plaza East Inc. /975-997 Raymond Boulevard/169/39/Unit C6/East/2013/$4,839,200/-$4,394.06
Hartz Raymond Boulevard, LP a/k/a Raymond Plaza East Inc. /975-997 Raymond Boulevard/169/39/Unit C6/East/2014 (F)/$4,839,200/-$4,614.29
Hartz Raymond Boulevard, LP a/k/a Raymond Plaza East Inc. /975-997 Raymond Boulevard/169/39/Unit C6/East/2015 (F)/$4,839,200/-$4,923.79
Bella Realty Co., LLC/439-451 Frelinghuysen Avenue/3542/12/South/2013/$1,262,200/$0.00
Bella Realty Co., LLC/439-451 Frelinghuysen Avenue/3542/12/South/2014/$1,155,000/-$3,324.27
Bella Realty Co., LLC/439-451 Frelinghuysen Avenue/3542/12/South/2015/$1,100,000/-$5,367.20
Bella Realty Co., LLC/429-433 Frelinghuysen Avenue/3542/8/South/2014/$600,000/-$22,525.66
Bella Realty Co., LLC/429-433 Frelinghuysen Avenue/3542/8/South/2015/$600,000/-$24,036.58
Additional Information:
Total Tax Difference: -$2,194,952.09
Invitation: Corporation Counsel, October 18, 2016
body
WHEREAS, there are now pending before the Tax Court of New Jersey direct appeals challenging real property assessments and actions to review judgments of the Essex County Board of Taxation with regard to properties listed on the attached Schedule A, dated July 2016; and
WHEREAS, after a review of the appraisals of both the City and the taxpayer and an analysis of prior County Board and Tax Court actions, as they affect these properties, and after careful consideration of these facts, it is the opinion of the Tax Assessor and the Corporation Counsel, or his designee Outside Counsel, that these settlements are in the best interests of the City of Newark.
NOW, THEREFORE, BE IT RESOLVED BY THE MUNICIPAL COUNCIL OF THE CITY OF NEWARK, NEW JERSEY, THAT:
1. The Corporation Counsel of the City of Newark, or his designee, Outside Counsel, be and is hereby authorized to execute a Stipulation of Settlement with regard to certain properties as set forth in Schedule A, dated July 2016, after receipt of all documents deemed appropriate.
2. The City Clerk shall serve a copy of this resolution upon the Tax Assessor, Corporation Counsel and the Department of Finance.
STATEMENT
This resolution authorizes the Corporation Counsel of the City of Newark, or his designee, Outside Counsel, to execute a Stipulation of Settlement with regard to certain properties Tax Appeals on properties as set forth in Schedule A, dated July 2016.