Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: To construct a new two (2) family residential dwelling with a parking garage for rent at 50% of the Area Median Income (AMI). Entity Name: Three Brothers Construction LLC Entity Address: 255 Grafton Avenue, Newark, New Jersey 07104 Sale Amount: $28,700.00 Cost Basis: (X) $14.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $19,600.00 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) 200 Ridge Street/ Block 537/ Lot 17/ North Ward Additional Information: Sale Price: Total Square Footage X PSF = 2,050 X $14.00 = $28,700.00. 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-c 021826

What this record is

Held by

Three Brothers Construction LLC

Amount

$29K

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

November 20, 2025

On agenda

February 18, 2026

Passed

March 4, 2026

Where it was heard

Municipal Council Mar 4, 2026 Returned to Administration Pass Municipal Council Feb 18, 2026 Defer Pass

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