25-1176
Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: On 522 ½ Central Avenue the property will be rehabilitated to create a new office headquarters and 508 15th Avenue will be developed into a new construction of a 2-family home which will provide affordable housing for Newark residents at 60-80% AMI. Entity Name: S.G. Global Enterprise LLC Entity Address: 212 Dayton Street, Apt 2, Ridgewood, New Jersey 07450 Sale Amount: $60,345.00 Cost Basis: (X) $15.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $65,400.00 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) 522 ½ Central Avenue/Block 1828 /Lot 64/ West Ward 508 15th Avenue/ Block 284/ Lot 1/ Central Ward Additional Information: Sale Price: Total Square Footage X PSF = 4,023 X $15.00 = $60,345.00 Sale at prices set forth by Ordinance 6S&Fh, adopted on April 7, 2004, establishing the minimum sale price of City-owned properties. Deferred 7R2-h 112525
What this record is
- Held by
- Global Enterprise LLC
- Amount
- $65K
- 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
- August 27, 2025
- On agenda
- November 25, 2025
- Passed
- December 3, 2025
Where it was heard
Municipal Council Municipal CouncilWatch what Newark buys
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