Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: To build an industrial warehouse to be utilized for light manufacturing Entity Name: Margate 1270 McCarter Highway, LLC Entity Address: 250 Passaic Street, Newark, New Jersey 07104 Sale Amount: $875,000.00 Cost Basis: ( ) $ PSF ( X ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $1,059,900.00 Appraised Amount: $875,000.00 Contract Period: To commence within three (3) months and be completed within twenty four (24) months upon receipt of Commencement of Construction as outlined in Exhibit G. 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) 281-289 Passaic Street/Block 436/Lot 13/Central Ward 1266-1270 McCarter Highway/Block 436/Lot 18,20/Central Ward 1272 McCarter Highway/Block 436/Lot 21/Central Ward 1274 McCarter Highway/Block 436/Lot 22/Central Ward Additional Information: Sale Price: Negotiated Price = $875,000.00. Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties.

What this record is

Held by

Margate 1270 McCarter Highway, LLC 2 records across this site

Amount

$1.06M

Runs until

Not stated in the agenda text — the term is normally in the signed agreement, attached to the original item ↗

Type

amendment

Field

Construction

construction contracts in NJ that end within a year →
Governments publish the end date in the award. That date is when the work goes back out to bid, and it is usually stated years ahead.

Read automatically from the title of the official record. The source document below is authoritative.

Margate 1270 McCarter Highway, LLC also holds

Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose:… $1.06M Newark, NJ

Committee

Economic and Housing Development

Introduced

December 4, 2024

On agenda

December 18, 2024

Passed

December 18, 2024

Where it was heard

Municipal Council Dec 18, 2024 Adopt Pass

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