Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: To construct ten (10) two-family residential homes
Entity Name: Saber Real Estate Development, LLC
Entity Address: 1010 Adams Avenue, Union, New Jersey 07083
Sale Amount: $125,040.00
Cost Basis: (X) $4.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $443,600.00
Appraised Amount: $0.00
Contract Period: : To commence within three (3) months and be completed within eighteen (18) months 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)
37 S 7th Street/Block 1829/Lot 10/West Ward
39 S 7th Street/Block 1829/Lot 11/West Ward
53 S 7th Street/Block 1829/Lot 18/West Ward
105 S 9th Street/Block 1827/Lot 14/West Ward
144 S 9th Street/Block 1828/Lot 36/West Ward
107 S 8th Street/Block 1828/Lot 30/West Ward
99-101 S 8th Street/Block 1828/Lot 26/West Ward
103 S 8th Street/Block 1828/Lot 28/West Ward
39 S 9th Street/Block 1856/Lot 9/West Ward
75-77 Norwood Street Block 4066/Lot 55/West Ward
Additional Information:
Total Square Footage = 31,260 X $4.00 = $125,040.00
Sale at prices set forth by Ordinance 6S&Fh adopted on April 7, 2004, establishing the minimum sale price of City-owned Properties
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WHEREAS, the purpose of this resolution is to approve the sale and redevelopment of the following City-owned Properties located in the West Ward of the City of Newark:
ADDRESS WARD BLOCK LOT SIZE SQ. FEET
37 S 7th Street West 1829 10 25X100 2,500
39 S 7th Street West 1829...
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