Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing (X) Amending Type of Service: Private Sale/Redevelopment Purpose: First Amendment to Agreement for the Sale and Redevelopment of Land to Creative Development Real Estate, LLC, to change the Project Description for 861-865 South 12th Street. Entity Name: Creative Development Real Estate, LLC Entity Address: 732 Bergen Street, Newark, New Jersey 07108 Sale Amount: $54,750.00 Cost Basis: (X) $6.00PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $81,300.00 Appraised Amount: N/A Contract Period: To commence within three (3) months and be completed within twenty-four (24) months from the transfer of ownership by the City 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) 732 Bergen Street/Block 2707/Lot 50/South Ward 861-865 South 12th Street/Block 3008/Lot 65/South Ward Additional Information: Resolution 7R2-a adopted on September 2, 2020, authorized the Private Sale/Redevelopment pursuant to the Agreement for the Sale and Redevelopment of Land. This Resolution authorizes a First Amendment to the Agreement for the Sale and Redevelopment of Land, to change the Scope of Project for 861-865 South 12th Street. The Certificate of Completion has been issued for 732 Bergen Street as that project has been completed.

What this record is

Held by

Development Real Estate, LLC 2 records across this site

Amount

$81K

Runs until

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

Type

amendment

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Development Real Estate, LLC also holds

Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing (X) Amending Type of Service: Private Sale/Redevelopment Purpose:… $4.33M Newark, NJ

Committee

Economic and Housing Development

Introduced

June 9, 2026

On agenda

June 17, 2026

Passed

June 17, 2026

Where it was heard

Municipal Council Jun 17, 2026 Adopt Pass

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