Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: To develop the properties to build three (3) two (2) family homes for sale.
Entity Name: Michael Constantino
Entity Address: 270 Goldsmith Avenue, Newark, New Jersey 07112
Sale Amount: $54,550.00
Cost Basis: (X ) $6.00/$7.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $51,500.00
Appraised Amount: $0.00
Contract Period: Commence within three (3) months and be completed within eighteen (18) months following the 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)
658 Hunterdon Street/Block 2689/Lot 56/South Ward
95 Chadwick Avenue/Block 3000/Lot 7/South Ward
272 Goldsmith Avenue/Block 3719.04/Lot 18/South Ward
Additional Information:
Sale Price: Total Square Footage X PSF = (2,625 X $6.00 = $15,750.00) + (2,500 X $6.00 = $15,000.00) + (3,400 X $7.00 = $23,800.00) = $54,550.00
Sale at prices set forth by Ordinance 6S&Fh adopted on April 7, 2004, establishing the minimum sale price of City-owned properties.
body
WHEREAS, the purpose of this resolution is to approve the sale and redevelopment of the following City-owned Property located in the South Ward of the City of Newark:
ADDRESS
BLOCK
LOT
SIZE
SQ. FEET
658 Hunterdon Street
2689
56
25 X 105
2,625
95 Chadwick Avenue
3000|1010|25 X 100
2,500
272 Goldsmith Avenue
3719.04
18
34 X 100
3,400
Purchase Price: $54,550.00 ($6.00/7.00 per sf.); and
WHEREAS, the City of Newark has determined that the above refe...
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