Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: Rehabilitate properties to create a kitchen incubator.
Entity Name: All Renovation Construction, LLC.
Entity Address: 200 W 138th Street, Ground Floor Suite, New York, New York 10030
Sale Amount: $43,649.72
Cost Basis: (X) $4.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $713,700.00
Appraised Amount: $0.00
Contract Period: To commence within three (3) months and 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
(Address/Block/Lot/Ward)
35 Murray Street/Block 2811/Lot 9/East Ward
33-35 Astor Street/Block 2811/Lot 10/East Ward
29-31 Astor Street/Block 2811/Lots 12, 13/East Ward
Additional Information:
Total Square Footage = 10,912.43. X $4.00 = $43,649.72
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WHEREAS, the purpose of this resolution is to approve the sale and rehabilitation of the following City-owned Properties located in the East Ward of the City of Newark:
ADDRESS WARD BLOCK LOT SIZE SQ. FEET
29-31 Astor Street East 2811 12, 13 52X85 4,420
33-35 Astor Street East 2811 10 53.2X85 4,522
35 Murray Street East 2811 9 23.1X85.3 1,970.43
Total Square Footage: 10,912.43
Total Purchase Price: $43,649.72 ($4.00 per sq. ft.); and
WHEREAS, the City of Newark has determined that the above referenced City-owned properties (the "Properties") are no longer needed for public use; and
WHEREAS, pursuant to N.J.S.A. 40A:12A-8(g), the City of Newark is proceeding with the rehabilitation of the area and is conveying Properties at such prices and upon such terms ...
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