Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: Redevelopment project for warehouse/distribution and/or light manufacturing uses (North Ward)
Entity Name: 123-131 Riverside Urban Renewal, LLC.
Entity Address: 857 Broad Street, Newark, New Jersey 07102
Sale Amount: $50,000.00
Cost Basis: ( ) $ PSF (X) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $5,001,900.00
Appraised Amount: $2,955,000.00
Contract Period: To commence within three (3) months and be completed within two (2) years from the transfer of ownership by 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)
49-59 Riverside Avenue/Block 614/Lot 58/North Ward
77-83 Riverside Avenue/Block 674/Lot 4/North Ward
85 Riverside Avenue/Block 674/Lot 3/North Ward
87-101 Riverside Avenue/Block 674/Lot 5/North Ward
123-129 Riverside Avenue/Block 725/Lot 12/North Ward
1682-1696 McCarter Highway Rear/Block 614/Lot 68/North Ward
1700-1712 McCarter Highway Rear/Block 614/Lot 63/North Ward
1702-1716 McCarter Highway/Block 614/Lot 64/North Ward
1718-1728 McCarter Highway/Block 614/Lot 61/North Ward
1826-1848 McCarter Highway/Block 725/Lot 16/North Ward
Additional Information:
body
WHEREAS, the purpose of this resolution is to approve the sale and rehabilitation, of the following City-owned properties located in the North Ward of the City of Newark:
ADDRESS WARD BLOCK LOT
49-59 Riverside Avenue North 614 58
77-83 Riverside Avenue North 674 |910|85 Riverside Avenue North 674 |910|87-101 Riverside Avenue North 674 |910|123-129 Riverside Avenue North 725 ...
Click here for full text