Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: To develop five (5) multi-family homes.
Entity Name: Davidson Abraham & Associates, LLC and Mt. Hope Housing Company, Inc.
Entity Address: 211 Warren Street, Newark, New Jersey 07103 and 2003-05 Walton Avenue, Bronx, New York 10453
Sale Amount: $95,829.30
Cost Basis: (X) $6.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $130,500.00
Appraised Amount: $0.00
Contract Period: To commence within three (3) months and be completed within eighteen (18) months following transfer of properties 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)
565-567 Hunterdon Street/Block 2660/Lot 16/South Ward
577 Hunterdon Street/Block 2660/Lot 22/South Ward
579 Hunterdon Street/Block 2660/Lot 23/South Ward
581 Hunterdon Street/Block 2660/Lot 24/South Ward
601 Hunterdon Street/Block 2685/Lot 6/South Ward
Additional Information:
Sale Price: Total Square Footage X PSF = 15,971.55 X $6.00 = $95,829.30.
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 Department of Economic and Housing Development seeks to approve the sale and redevelopment of the following City-owned Properties located in the South Ward of the City of Newark:
ADDRESS
BLOCK
LOT(S)
SIZE SQ. FEET
565-567 Hunterdon Street
577 Hunterdon Street
579 Hunterdon Street
581 Hunterdon Street
601 Hunterdon Street
2660
2660
2660
2660
2685
...
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