Title
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)
186 Market Street, LLC/164/13(Merged into L14 in 2022)/186-188 Market Street/East/2017/$750,000/-$12,937.04
186 Market Street, LLC/164/13(Merged into L14 in 2022)/186-188 Market Street/East/2018/$750,000/-$13,420.36
186 Market Street, LLC/164/13(Merged into L14 in 2022)/186-188 Market Street/East/2019/$750,000/-$13,667.47
191-193 Wilson Ave., LLC; Thomas E. Buccine/2080/59/191-193 Wilson Avenue/East/2017/$346,500/-$2,848.00
191-193 Wilson Ave., LLC; Thomas E. Buccine/2080/59/191-193 Wilson Avenue/East/2018/$346,500/-$2,954.40
191-193 Wilson Ave., LLC; Thomas E. Buccine/2080/59/191-193 Wilson Avenue/East/2019/$346,500/-$3,008.80
33 Maple, LLC/3712/1/33-47 Maple Avenue/South/2017/$0/-$767,425.64
653 Mt. Prospect Ave., LLC/736/33(35)/651-655 Mt. Prospect Avenue/
North/2023/$1,850,000/-$14,747.97
653 Mt. Prospect Ave., LLC/736/33(35)/651-655 Mt. Prospect Avenue/
North/2024/$1,450,000/-$30,256.67
Green Formosa Partners/195/40/C1207/61 NJRR Avenue #7/East/2015/$350,000/-$7,607.39
Green Formosa Partners/195/40/C1207/61 NJRR Avenue #7/East/2016/$400,000/-$6,188.56
1292 McCarter, LLC/436/1/1292-1298 McCarter Highway/Central/2017/
$1,250,000/-$26,525.56
1292 McCarter, LLC/436/1/1292-1298 McCarter Highway/Central/2018/
$1,100,000/-$5,539.50
1292 McCarter, LLC/436/1/1292-1298 McCarter Highway/Central/2019/
$1,100,000/-$5,641.50
1292 McCarter, LLC/436/1/1292-1298 McCarter Highway/Central/2020/
$1,100,000/-$5,700.00
1292 McCarter, LLC/436/1/1292-1298 McCarter Highway/Central/2021/
$1,100,000/-$5,601.00
CPT Operating Partnership, L.P./5060/154/451-479 Doremus Avenue/East/
2013/$18,832,400/-$0.00
CPT Operating Partnership, L.P./5060/154/451-479 Doremus Avenue/East/
2014/$18,832,400/-$0.00
CPT Operating Partnership, L.P./5060/154/451-479 Doremus Avenue/East/
2015/$18,832,400/-$0.00
CPT Operating Partnership, L.P./5060/154/451-479 Doremus Avenue/East
/2016/$18,832,400/-$0.00
CPT Operating Partnership, L.P./5060/154/451-479 Doremus Avenue/East/
2017/$18,832,400/-$0.00
CPT Operating Partnership, L.P./5060/154/451-479 Doremus Avenue/East
/2018/$18,832,400/-$0.00
CPT Operating Partnership, L.P./5060/154/451-479 Doremus Avenue/East/
2019/$18,832,400/-$0.00
CPT Operating Partnership, L.P./5060/154/451-479 Doremus Avenue/East/
2020/$18,832,400/-$0.00
CPT Operating Partnership, L.P./5060/154/451-479 Doremus Avenue/East/
2021/$12,000,000/-$255,121.82
Plagro Realty, Inc./614/57/45-55 Riverside Avenue/North/2019/$650,000/-$0.00
Plagro Realty, Inc./614/57/45-55 Riverside Avenue/North/2020/$650,000/-$0.00
Plagro Realty, Inc./614/57/45-55 Riverside Avenue/North/2021/$450,000/-$7,468.00
Plagro Realty, Inc./614/57/45-55 Riverside Avenue/North/2022/$450,000/-$7,472.00
Foundry Street Development, LLC; Jamm Realty Holdings, LLC/5005/1.02/221-243 Foundry Street/East/2013/$1,300,700/-$2,953.00
Foundry Street Development, LLC; Jamm Realty Holdings, LLC/5005/1.02/221-243 Foundry Street/East/2014/$1,300,700/-$3,101.00
Foundry Street Development, LLC; Jamm Realty Holdings, LLC/5005/1.02/221-243 Foundry Street/East/2015/$1,300,700/-$3,309.00
Foundry Street Development, LLC; Jamm Realty Holdings, LLC/5005/1.02/221-243 Foundry Street/East/2016/$1,400,700/-$0.00
Foundry Street Development, LLC; Jamm Realty Holdings, LLC/5005/1.02/221-243 Foundry Street/East/2017/$1,400,700/-$0.00
Foundry Street Development, LLC; Jamm Realty Holdings, LLC/5005/1.02/221-243 Foundry Street/East/2018/$1,400,700/-$0.00
Foundry Street Development, LLC; Jamm Realty Holdings, LLC/5005/1.02/221-243 Foundry Street/East/2019/$1,400,700/-$0.00
Foundry Street Development, LLC; Jamm Realty Holdings, LLC/5005/1.02/221-243 Foundry Street/East/2020/$1,400,700/-$0.00
Foundry Street Development, LLC; Jamm Realty Holdings, LLC/5005/1.02/221-243 Foundry Street/East/2021/$1,400,700/-$0.00
154 Chadwick Green, LLC/3021/13/261 Chadwick Avenue/South/2014
$153,700/-$0.00
154 Chadwick Green, LLC/3021/13/261 Chadwick Avenue/South/2015/
$153,700/-$0.00
154 Chadwick Green, LLC/3021/13/261 Chadwick Avenue/South/2016/
$125,000/-$987.28
39-41 Fabyan Pl Realty, Corp.; 3941 Fabyan Place, LLC/3079/18/39-41 Fabyan Place/South/2014/$757,000/-$0.00
39-41 Fabyan Pl Realty, Corp.; 3941 Fabyan Place, LLC/3079/18/39-41 Fabyan Place/South/2015/$757,400/-$0.00
39-41 Fabyan Pl Realty, Corp.; 3941 Fabyan Place, LLC/3079/18/39-41 Fabyan Place/South/2016/$552,500/-$7,048.56
39-41 Fabyan Pl Realty, Corp.; 3941 Fabyan Place, LLC/3079/18/39-41 Fabyan Place/South/2017/$552,500/-$7,294.44
39-41 Fabyan Pl Realty, Corp.; 3941 Fabyan Place, LLC/3079/18/39-41 Fabyan Place/South/2018/$552,500/-$7,566.96
39-41 Fabyan Pl Realty, Corp.; 3941 Fabyan Place, LLC/3079/18/39-41 Fabyan Place/South/2019/$500,000/-$9,680.81
39-41 Fabyan Pl Realty, Corp.; 3941 Fabyan Place, LLC/3079/18/39-41 Fabyan Place/South/2020/$500,000/-$9,781.20
Jomase Realty, Corp./2032/37/85-87 Wilson Avenue/East/2013/$1,199,900/-$0.00
Jomase Realty, Corp./2032/37/85-87 Wilson Avenue/East/2014/$1,050,000/-$0.00
Jomase Realty, Corp./2032/37/85-87 Wilson Avenue/East/2015/$1,050,000/-$0.00
Jomase Realty, Corp./2032/37/85-87 Wilson Avenue/East/2016/$1,050,000/-$0.00
Jomase Realty, Corp./2032/37/85-87 Wilson Avenue/East/2017/$951,000/-$3,524.40
Jomase Realty, Corp./2032/37/85-87 Wilson Avenue/East/2018/$951,000/-$3,656.07
Jomase Realty, Corp./2032/37/85-87 Wilson Avenue/East/2019/$951,000/-$3,723.39
Jomase Realty, Corp./2032/37/85-87 Wilson Avenue/East/2020/$951,000/-$3,762.00
LT Associates, LLC/258/20/116 Littleton Avenue/West/2016/$20,000/-$216.72
LT Associates, LLC/258/20/116 Littleton Avenue/West/2017/$20,000/-$224.28
LT Associates, LLC/258/20/116 Littleton Avenue/West/2018/$20,000/-$0.00
LT Associates, LLC/258/20/116 Littleton Avenue/West/2019/$20,000/-$0.00
LT Associates, LLC/258/20/116 Littleton Avenue/West/2020/$20,000/-$0.00
LT Associates, LLC/266/26/404 South 11th Street/West/2016/$20,000/-$347.44
LT Associates, LLC/266/26/404 South 11th Street/West/2017/$20,000/-$359.56
LT Associates, LLC/266/26/404 South 11th Street/West/2018/$20,000/-$0.00
LT Associates, LLC/266/26/404 South 11th Street/West/2019/$20,000/-$0.00
LT Associates, LLC/266/26/404 South 11th Street/West/2020/$20,000/-$0.00
LT Associates, LLC/333/54/510 South 16th Street/West/2016/$20,000/-$378.40
LT Associates, LLC/333/54/510 South 16th Street/West/2017/$20,000/-$391.60
LT Associates, LLC/333/54/510 South 16th Street/West/2018/$20,000/-$0.00
LT Associates, LLC/333/54/510 South 16th Street/West/2019/$20,000/-$0.00
LT Associates, LLC/333/54/510 South 16th Street/West/2020/$20,000/-$0.00
LT Associates, LLC/333/65/532-536 South 16th Street/West/2016/$30,000/-$223.60
LT Associates, LLC/333/65/532-536 South 16th Street/West/2017/$30,000/-$231.40
LT Associates, LLC/333/65/532-536 South 16th Street/West/2018/$30,000/-$0.00
LT Associates, LLC/333/65/532-536 South 16th Street/West/2019/$30,000/-$0.00
LT Associates, LLC/333/65/532-536 South 16th Street/West/2020/$30,000/-$0.00
Rite Aid Corporation #10402-01/260/1.01/96-110 12th Avenue/West/2016/
$3,095,900/-$0.00
Rite Aid Corporation #10402-01/260/1.01/96-110 12th Avenue/West/2018/
$3,095,900/-$0.00
Rite Aid Corporation #10402-01/260/1.01/96-110 12th Avenue/West/2019/
$3,233,300/-$17,398.39
Rite Aid Corporation #10402-01/260/1.01/96-110 12th Avenue/West/2020/
$3,233,300/-$17,578.80
Rite Aid Corporation #10402-01/260/1.01/96-110 12th Avenue/West/2021/
$3,695,900/-$0.00
Rite Aid Corporation #10402-01/260/1.01/96-110 12th Avenue/West/2022/
$3,233,300/-$0.00
Rite Aid Corporation #10402-01/260/1.01/96-110 12th Avenue/West/2023/
$3,233,300/-$0.00
Sierra, Carmelo/821/42/89-93 Montclair Avenue/North/2014/$972,800/-$0.00
Sierra, Carmelo/821/42/89-93 Montclair Avenue/North/2015/$972,800/-$0.00
Sierra, Carmelo/821/42/89-93 Montclair Avenue/North/2016/$972,800/-$0.00
Sierra, Carmelo/821/42/89-93 Montclair Avenue/North/2017/$900,000/-$2,591.68
Sierra, Carmelo/821/42/89-93 Montclair Avenue/North/2018/$900,000/-$2,688.50
Sierra, Carmelo/821/42/89-93 Montclair Avenue/North/2019/$900,000/-$2,738.01
Sierra, Carmelo/821/42/89-93 Montclair Avenue/North/2020/$900,000/-$2,766.40
BMHC Dev. Assoc. c/o Shaya Hazan/57.03/77(79)/166-174 Market Street/Central/2019/$1,528,600/-$6,999.22
BMHC Dev. Assoc. c/o Shaya Hazan/57.03/77(79)/166-174 Market Street/Central/2020/$1,528,600/-$7,071.80
BMHC Dev. Assoc. c/o Shaya Hazan/57.03/77(79)/166-174 Market Street/Central/2021/$1,528,600/-$0.00
BMHC Dev. Assoc. c/o Shaya Hazan/57.03/77(79)/166-174 Market Street/Central/2022/$1,528,600/-$0.00
BMHC Dev. Assoc. c/o Shaya Hazan/57.03/77(79)/166-174 Market Street/Central/2023/$1,528,600/-$0.00
BMHC Dev. Assoc. c/o Shaya Hazan/57.03/77(79)/166-174 Market Street/Central/2024/$1,368,100/-$6,103.82
BMHC Dev. Assoc. c/o Shaya Hazan/57.03/84/797 Mayor Gibson Boulevard/Central/2019/$322,200/-$0.00
BMHC Dev. Assoc. c/o Shaya Hazan/57.03/84/797 Mayor Gibson Boulevard/Central/2020/$322,200/-$0.00
BMHC Dev. Assoc. c/o Shaya Hazan/57.03/84/797 Mayor Gibson Boulevard/Central/2021/$322,200/-$0.00
BMHC Dev. Assoc. c/o Shaya Hazan/57.03/84/797 Mayor Gibson Boulevard/Central/2022/$313,500/-$0.00
BMHC Dev. Assoc. c/o Shaya Hazan/57.03/84/797 Mayor Gibson Boulevard/Central/2023/$313,500/-$0.00
BMHC Dev. Assoc. c/o Shaya Hazan/57.03/84/797 Mayor Gibson Boulevard/Central/2024/$313,500/-$0.00
BMHC Dev. Assoc. c/o Shaya Hazan/57.03/86(88,90)/799-805 Mayor Gibson Boulevard/Central/2015/$1,628,600/-$0.00
BMHC Dev. Assoc. c/o Shaya Hazan/57.03/86(88,90)/799-805 Mayor Gibson Boulevard/Central/2016/$1,628,600/-$0.00
BMHC Dev. Assoc. c/o Shaya Hazan/57.03/86(88,90)/799-805 Mayor Gibson Boulevard/Central/2017/$1,350,000/-$9,918.16
BMHC Dev. Assoc. c/o Shaya Hazan/57.03/86(88,90)/799-805 Mayor Gibson Boulevard/Central/2018/$1,350,000/-$10,288.70
BMHC Dev. Assoc. c/o Shaya Hazan/57.03/86(88,90)/799-805 Mayor Gibson Boulevard/Central/2019/$1,350,000/-$10,478.15
BMHC Dev. Assoc. c/o Shaya Hazan/57.03/86(88,90)/799-805 Mayor Gibson Boulevard/Central/2020/$1,350,000/-$10,586.80
BMHC Dev. Assoc. c/o Shaya Hazan/57.03/86(88,90)/799-805 Mayor Gibson Boulevard/Central/2021/$1,588,300/-$0.00
BMHC Dev. Assoc. c/o Shaya Hazan/57.03/86(88,90)/799-805 Mayor Gibson Boulevard/Central/2022/$1,588,300/-$0.00
BMHC Dev. Assoc. c/o Shaya Hazan/57.03/86(88,90)/799-805 Mayor Gibson Boulevard/Central/2023/$1,588,300/-$0.00
BMHC Dev. Assoc. c/o Shaya Hazan/57.03/86(88,90)/799-805 Mayor Gibson Boulevard/Central/2024/$1,588,300/-$0.00
BMHC Dev. Assoc. c/o Shaya Hazan/57.03/94(96,98)/807-813 Mayor Gibson Boulevard/Central/2015/$3,095,700/-$0.00
BMHC Dev. Assoc. c/o Shaya Hazan/57.03/94(96,98)/807-813 Mayor Gibson Boulevard/Central/2016/$3,095,700/-$0.00
BMHC Dev. Assoc. c/o Shaya Hazan/57.03/94(96,98)/807-813 Mayor Gibson Boulevard/Central/2017/$2,650,000/-$15,866.92
BMHC Dev. Assoc. c/o Shaya Hazan/57.03/94(96,98)/807-813 Mayor Gibson Boulevard/Central/2018/$2,650,000/-$16,459.70
BMHC Dev. Assoc. c/o Shaya Hazan/57.03/94(96,98)/807-813 Mayor Gibson Boulevard/Central/2019/$2,650,000/-$16,762.78
BMHC Dev. Assoc. c/o Shaya Hazan/57.03/94(96,98)/807-813 Mayor Gibson Boulevard/Central/2020/$2,650,000/-$16,936.60
BMHC Dev. Assoc. c/o Shaya Hazan/57.03/94(96,98)/807-813 Mayor Gibson Boulevard/Central/2021/$2,500,000/-$8,435.11
BMHC Dev. Assoc. c/o Shaya Hazan/57.03/94(96,98)/807-813 Mayor Gibson Boulevard/Central/2022/$2,500,000/-$8,439.62
BMHC Dev. Assoc. c/o Shaya Hazan/57.03/94(96,98)/807-813 Mayor Gibson Boulevard/Central/2023/$2,500,000/-$8,421.55
BMHC Dev. Assoc. c/o Shaya Hazan/57.03/94(96,98)/807-813 Mayor Gibson Boulevard/Central/2024/$2,500,000/-$8,590.98
BMHC, LLC OF N.J./57.02/54(55)/146-148 Market Street/Central 2015/
$2,000,200/-$0.00
BMHC, LLC OF N.J./57.02/54(55)/146-148 Market Street/Central 2016/
$2,000,200/-$0.00
BMHC, LLC OF N.J./57.02/54(55)/146-148 Market Street/Central 2017/
$1,800,000/-$7,127.12
BMHC, LLC OF N.J./57.02/54(55)/146-148 Market Street/Central 2018/
$1,700,000/-$11,086.39
BMHC, LLC OF N.J./57.02/54(55)/146-148 Market Street/Central 2019/
$1,700,000/-$11,290.52
BMHC, LLC OF N.J./57.02/54(55)/146-148 Market Street/Central/2020/
$1,700,000/-$11,407.60
BMHC, LLC OF N.J./57.02/54(55)/146-148 Market Street/Central/2021/
$1,779,900/-$0.00
BMHC, LLC OF N.J./57.02/54(55)/146-148 Market Street/Central/2022/
$1,779,900/-$0.00
BMHC, LLC OF N.J./57.02/54(55)/146-148 Market Street/Central/2023/
$1,779,900/-$0.00
BMHC, LLC OF N.J./57.02/54(55)/146-148 Market Street/Central/2024/
$1,500,000/-$10,644.60
Additional Information:
Total credits: $1,521,570.71
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, June 2025 Credits 1; 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 be and is hereby authorized to execute a Stipulation of Settlement with regard to certain properties as set forth in Schedule A, June 2025 Credits 1, 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 Director of Finance.
STATEMENT
This resolution authorizes the Corporation Counsel, or his designee, to execute a Stipulation of Settlement with regard to Tax Appeals on certain properties set forth in Schedule A, June 2025 Credits 1.