Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: To develop five (5) three (3) family homes and three (3) two (2) family homes for sale.
Entity Name: Enterprise Builders, LLC
Entity Address: 544 Park Avenue, Suite 316, Brooklyn, New York 11206
Sale Amount: $164,290.50
Cost Basis: (X ) $6.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $431,200.00
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
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)
268-270 Hawthorne Avenue/Block 3598/Lot 8/South Ward
272 Hawthorne Avenue/Block 3598/Lot 10/South Ward
274-276 Hawthorne Avenue/Block 3598/Lot 12/South Ward
265-267 Seymour Avenue/Block 3598/Lot 5/South Ward
269 Seymour Avenue/Block 3598/Lot 3/South Ward
Additional Information:
Sale Price: Total Square Footage X PSF = (6,294.75 X $6.00 = $37,768.50) + (5,974.50 X $6.00 = $35,847.00) + (6,330.70 X $6.00 = $37,984.20) + (4,574.64 X $6.00 = $27,447.84) + (4,207.16 X $6.00 = $25,242.96) = $164,290.50.
Sale at prices set forth by Ordinance 6S&Fh, adopted April 7, 2004, establishing the minimum sale price of City-owned properties.
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WHEREAS, the Department of Economic and Housing Development seeks 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
SIZE
SQ. FEET
268-270 Hawthorne Avenue
3598|1010|52.5 X 119.9
6,294.75
272 ...
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