Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: Develop new and rehabilitated affordable apartments and homes
Entity Name: Hamlett Management, LLC.
Entity Address: 454 Morris Avenue, Springfield, New Jersey 07081
Sale Amount: $54,760.00
Cost Basis: (X) $4.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $755,500.00
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)
601 15th Avenue/Block 334/Lot 32/West Ward
603 15th Avenue/Block 334/Lot 33/West Ward
510 S 17th Street/Block 334/Lot 35/West Ward
275-277 16th Avenue/Block 334/Lot 1/West Ward
550-552 S 18th Street/Block 335/Lot 52/West Ward
Additional Information:
Total Square Footage = 13,690 X $4.00 = $54,760.00
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 Properties located in the West Ward of the City of Newark:
ADDRESS
BLOCK
LOT
WARD
SIZE
SQ FEET
601 15th Ave
334
32
West
25X68
1700
603 15th Ave
334
33
West
25X68
1700
510 S 17th St
334
35
West
25X100
2500
275-277 16th Ave
334|1010|West
40.4X100
4040
550-552 S 18th St
335
52
West
50X75
3750
Total Square Footage: 13,690
Total Purchase Price: $54,760. ($4.00 per sf.); and
WHEREAS, the City of Newark has determined that the above referenced City-owned Properties (the "Propertie...
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