Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: To use as an extension to a current development project Entity Name: 34 Jersey U R LLC Entity Address: 1 Julius Way, Lakewood, New Jersey 08701 Sale Amount: $2,600,000.00 Cost Basis: ( ) $ PSF (X) Negotiated ( ) N/A ( ) Other: Assessed Amount: $920,100.00 Appraised Amount: $3,700,000.00 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) 34-48 Jersey Street/Block 171/ Lot 41/ East Ward Additional Information: Sale Price: Negotiated = $2,600,000.00 The difference between the sale price and appraised value is being offset by the Redeveloper's proposed construction of a boardwalk on the property, with an estimated cost ranging from One Million One Hundred Thousand Dollars and Zero Cents ($1,100,000.00) to One Million Three Hundred Fifty Thousand Dollars and Zero Cents ($1,350,000.00)

What this record is

Held by

34 Jersey U R LLC 2 records across this site

Amount

$3.70M

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.

34 Jersey U R LLC also holds

Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose:… $1.76M Newark, NJ

Committee

Economic and Housing Development

Introduced

May 1, 2026

On agenda

May 20, 2026

Passed

May 20, 2026

Where it was heard

Municipal Council May 20, 2026 Adopt Pass

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