Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Private Sale/Redevelopment
Purpose: To construct six (6) two (2) family residential homes for rent.
Entity Name: Das 1 Holding, LLC
Entity Address: 2165 Morris Avenue, Suite 2, Union, New Jersey 07083
Sale Amount: $101,400.00
Cost Basis: (X ) $6.00 PSF ( ) Negotiated ( ) N/A ( ) Other:
Assessed Amount: $193,700.00
Appraised Amount: $0.00
Contract Period: To commence within three (3) months and be completed within eighteen (18) months following the transfer of property 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)
167 Johnson Avenue/Block 2700/Lot 16/South Ward
171 Johnson Avenue/Block 2700/Lot 18/South Ward
185 North 7th Street/Block 1917/Lot 51/Central Ward
316 7th Avenue W/Block 1911/Lot 2/Central Ward
155 Ridgewood Avenue/Block 2703/Lot 1/South Ward
161 Ridgewood Avenue/Block 2703/Lot 4/South Ward
Additional Information:
Sale Price: Total Square Footage X PSF = 16,900 X $6.00 = $101,400.00
Sale at prices set forth by Ordinance 6S&Fh, adopted April 7, 2004, establishing the minimum sale price of City-owned properties.
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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 and Central Wards of the City of Newark:
ADDRESS
BLOCK
LOT
SIZE
SQ. FEET
167 Johnson Avenue
2700
16
25X133
3,325
171 Johnson Avenue
2700
18
25X133
3,325
185 N 7th Street
1917
51
25X100
2,500
316 7th Avenue W
1911|1010|25X100
2,500
155 Ridgewood Avenue
2703|1010|25X10...
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