Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: To construct three (3) multi-family residential homes and a six (6) story eco-friendly luxury apartment building with thirty (30) units of residential space and underground parking spaces.
Entity Name: St. Dean Enterprise Series, LLC
Entity Address: 26 Washington Street, East Orange, New Jersey 07017
Sale Amount: $142,848.00
Cost Basis: (X) $6.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $290,100.00
Appraised Amount: $0.00
Contract Period: To commence within three (3) months and be completed within twenty-four (24) 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)
455-457 15th Avenue/Block 291/Lot (s) 1, 2/Central Ward
451-453 15th Avenue/Block 291/Lot (s) 3, 4/Central Ward
449 15th Avenue/Block 291/Lot 6/Central Ward
447 15th Avenue/Block 291/Lot 7/Central Ward
438 South 10th Street/Block 282/Lot 9.04/Central Ward
434-436 South 10th Street/Block 282/Lot 9.05/Central Ward
432 South 10th Street/Block 282/Lot 9.06/Central Ward
Additional Information:
Total Price: Square Footage X PSF = 23,808 X $6.00 = $142,848.00.
Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties.
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WHEREAS, the purpose of this Resolution to approve the sale and redevelopment of the following City-owned properties located in the Central Ward of the City of Newark:
ADDRESS
BLOCK
LOT(S)
SIZE SQ. FEET ...
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