25-0918
Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: New construction of a multi-unit apartment building with 3 market rate rentals and 1 owner occupied. Entity Name: TMA Urban Real Property Development Group LLC Entity Address: 972 Broad Street,1st Fl, Newark, New Jersey 07102 Sale Amount: $70,131.60 Cost Basis: (X) $14.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $44,600.00 Appraised Amount: N/A Contract Period: To commence within three (3) months and be completed within eighteen (18) months following transfer of property ownership from the City to the Redeveloper 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) 63-65 Fabyan Place/ Block 3081/ Lot 1/ South Ward Additional Information: Sale Price: Total Square Footage X PSF = 5,009.4 X $14.00 = $70,131.60. 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
- Amount
- $70K
- 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.
- Committee
- Economic and Housing Development
- Introduced
- June 20, 2025
- On agenda
- November 25, 2025
- Passed
- November 25, 2025
Where it was heard
Municipal CouncilWatch what Newark buys
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