Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: Construct a mixed-use commercial and market rate residential development with parking
Entity Name: Ganesh Ji Springfield, L.L.C.
Entity Address: 2449 JFK Boulevard, Suite 100, Jersey City, New Jersey 07304
Sale Amount: $314,529.68
Cost Basis: (X) $4.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $1,041,700.00
Appraised Amount: $1,400,000.00
Contract Period: To be commenced within three (3) months and be completed within twenty-four (24) 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)
473 Springfield Avenue/Block 2608/Lot 17/Central Ward
457 Springfield Avenue/Block 2608/Lot 22/Central Ward
402-416 18th Avenue/Block 2608/Lot 23/Central Ward
455 Springfield Avenue/Block 2608/Lot 26/Central Ward
453 Springfield Avenue/Block 2608/Lot 27/Central Ward
451 Springfield Avenue/Block 2608/Lot 28/Central Ward
400 18th Avenue/Block 2608/Lot 65/Central Ward
418 18th Avenue/Block 2608/Lot 74/Central Ward
Additional Information:
Total Square Footage = 78,632.42 X $4.00 = $314,529.68
Sale Price as set forth by Ordinance 6S&Fh, adopted April 7, 2004, establishing the minimum sale price of City-owned property.
body
WHEREAS, the purpose of this resolution is to approve the sale and redevelopment of the following City-owned properties located in the Central Ward of the City of Newark:
ADDRESS BLOCK LOT WARD SIZE SQ. FEET
473 Springfield Avenue 2608 17 Central 25X121 3,025.00
457 Springfield Avenue ...
Click here for full text