Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: To provide a new headquarters for Brilliant Smiles Pediatric Dentistry with the second and third floors owner-occupied.
Entity Name: Suffiyah L. Webb
Entity Address: 2 Center Street, Apt. 1205, Newark, New Jersey 07102
Sale Amount: $222,780.00
Cost Basis: (X) $79.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $454,400.00
Appraised Amount: $0.00
Contract Period: To commence within three (3) months and 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)
257 Martin Luther King Boulevard/Block 2857/Lot 13/Central Ward
Additional Information:
Sale Price: Total Square Footage X PSF = 2,820 X $79.00 = $222,780.00.
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 Central Ward of the City of Newark:
ADDRESS
BLOCK
LOT(S)
SIZE SQ. FEET
257 Martin Luther King Blvd
2857
13
28.2X100 2,820
Total Square Footage: 2,820
Purchase Price: $222,780.00 ($79.00 per s.f.); and
WHEREAS, the City of Newark (the "City") has determined that the above referenced City-owned property (the "Property") is no longer needed for public use; and
WHEREAS, pursua...
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