Newark Public Real Estate Auction

Department of Economic and Housing Development Division of Housing and Real Estate, 920 Broad Street, Room 421, Newark, NJ

For Information, Call (973) 733-8060 or (973) 733-7918

Or Visit web site at www.ci.newark.nj.us

9:00 A.M., Thursday November 18, 2010

Newark Symphony Hall Terrace Ballroom

1030 Broad Street, Newark, New Jersey

C O M M E R C I A L … R E S I D E N T I A L … V A C A N T L A N D

Dear Friends:

CORY BOOKER MAYOR

NEWARK,NEwJERSEY

07102

Welcome to the City of Newark's 2010 Public Real Estate Auction!

This year's auction, which is being held in our historic Newark Symphony Hall, is sponsored by the Department of Economic and Housing Development's Division of Housing and Real Estate and offers investment opportunities to prospective buyers who want to invest in New Jersey's largest city. There arc 10 structures and 25 vacant lots scheduled tor sale, including commercial property, infill residential, and multi-family properties in need of rehabilitation, located throughout the City.

All properties will be sold to the highest bidder and successful bidders will be required to tender a nonretimdable deposit upon the end of the auction and will be required to close on the property within 60 days.

These are exciting times for our City and I invite you to partner with us as Newark moves forward to becoming a national model of urban transformation.

Sincerely yours,

Cory A. Booker Mayor

PROPERTY ADDRESS BLOCK LOT(S) INSPECTION DATE - TIME

84 and 86 Astor St. 2807 9 and 10

499 Avon Ave. 2639 25 11/3, 11/9, 11/16 - 9:30 am until 11:00 am

110-112 Badger Ave. 2664 44 45

118 Badger Ave. 2664 41

1158-1160 Broad St. 906 20 *

1253 Broad St. 2789 8 *

607-609 and 611-613 Clinton Ave. 3004 28 11/4, 11/10, 11/17 - 10:00 am until 1:00

pm

456-458 Clinton Place 3709 43 *

64 and 66 Emmet St. 2807 29 and 28 *

125 and 127 Halsted St. 4203 78 and 79 *

9 Hartford St. 415 38 *

206 Hillside Ave. 2700 38 *

209 and 211-213 Littleton Ave. 1778 17.03 and 17.04

203 and 205-207 Littleton Ave. 1778 17.01 and 17.02

315-321 Lyons Ave. 3054 34, 35-37 *

233 Mt. Prospect Ave. 531 57 *

60-60A No. Ninth St. 1920 39 *

263 Orange St. and 68 Nesbitt St. 2862 17 and 16 *

611 and 613 Orange St. 1900 3 and 4 *

161 Pennsylvania Ave. 2796 20 *

97 Rose Terrace 2624 48 *

42 Second St. 1847 36 *

325 Sixth Ave. W. 1927 32 *

325-329 So. Eighteenth St. 1793 18 11/3, 11/9, 11/16 - 2:00 am until 3:30 pm

767 So. Eighteenth St. 2638 12 No interior inspection

834 So. Fourteenth St. 3009 34 No interior inspection

476 So. Orange Ave. 320 4 *

486-488 So. Seventeenth St. 327 45 *

503 So. Seventeenth St. 326 25 *

155, 157, 159 Sussex Ave. and 42-44 Norfolk St. 2852 34, 35, 36 and 52 *

35 and 37 Third St. 1878 20.01 and 27 *

349 W. Market St. 1841 16 *

283 W. Runyon St. 3035 35 *

449 Washington St. 115 15 *

43A Wickliffe St. 406 22-25 CM1X & CM1 No interior inspection

ALPHABETICAL PROPERTY INDEX

INSPECTION SCHEDULE

11/3, 11/9, 11/16 - 11:30 am until 1:00 pm

* Vacant Land is not shown by appointment

11/4, 11/10, 11/17 - 2:00 pm until 4:00 pm

&

Condition of Sale No. 2 The successful bidder shall be required to deposit the amount as set forth by the authorizing resolution and indicated in the legal advertisement, immediately after being declared the successful bidder and prior to the next property being auctioned. Failure to do so will result in the property being re-bid and the successful bidder being disqualified from all further bidding. The deposit must be tendered in the form of certified check or money order. NO CASH OR PERSONAL CHECKS WILL BE ACCEPTED AT THE AUCTION. NO EXCEPTIONS WILL BE MADE. All monies so received will be credited towards the total sale price of the property being purchased. The other Conditions of Sale appearing in the brochure must be reviewed carefully as they are of equal importance with the above cited condition.

The City of Newark reserves the right to remove any property from the auction for any reason whatsoever up until the time of the auction. Notice of removal will be posted prior to the

commencement of the auction

Properties Are Auctioned In The Same Order In Which They Are Listed

In This Brochure

Please Inspect All Properties Before Bidding

Earnest Monies (DEPOSITS) Are NON-REFUNDABLE

PHOTO PROVIDED ONLY AS AN AID Size and Location not guaranteed - Fo r Informational purposes only

ALL parcels should be physically inspected, and the Tax Map, and Zoning regula tions consulted

Property Address: 449 Washington Stree t

Property Type: 3-Story Brick Commercial Structure

Ward: Central

Lot Size: 33X99.3/3276.9 SF

Block: 115 Lot(s): 15

Minimum Bid: $71,250./ Deposit: $7,125.

ALL PARCELS SOLD IN PRESENT CONDITION" AS IS"

Washington st.

Deposits must be tendered at the auction in the form of certified check or money order made payable to The City of Newark. NO CASH OR PERSONAL CHECKS ACCEPTED - NO EXCEPTIONS

PHOTO PROVIDED ONLY AS AN AID Size and Location not guaranteed - For Informational purposes only

ALL parcels should be physically inspected, and the Tax Map, and Zoning regu lati ons consulted

Property Address: 476 So. Orange Avenue

Property Type: Vacant Lot

Ward: West

Lot Size: 25XlOO / 2500 SF


Assessed Value: 50,200

Minimum Bid: $12,550. / Deposit: $2,500.

ALL PARCELS SOLD IN PRESENT CONDITION "AS IS"



ALL parcels should be physically inspected, and the Tax Map, and Zoning regu lations consu lted

Property Address: 9 Hartford Street

Property Type: Parking Lot

Ward: Central



Lot Size: 20X107.6 / 2152 SF Minimum Bid: $7,525. / Deposit: $2,500.


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ALL parcels should be physically inspected, and the Tax Map, and Zoning regulations consulted

Property Address: 233 Mt. Prospect Avenue


Ward: North

Lot Size: 19.3X150 / 2895 SF

Block: 531 Lol(S): 57




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Deposits must be tendered at the auction in the form of certified check or money o rder made payable to The City of Newark. NO CASH OR PERSONAL CHECKS ACCEPTED - NO EXCEPTIONS


ALL parcels should be physically inspected, and the Tax Map, and Zoning regulations consu lted

Property Address: 1158-1160 Broad Street


Ward: East


Lot Size: 49x138.5 / 6786.5 SF Minimum Bid: $225,000. / Deposit: $22,500.


. ' .....

Broad St:.



ALL parcels should be physicall y inspected, and the Tax Map, and Zoning regulations consulted

Property Address: 203 & 205-207 Littleton Avenue Block: 1778

Property Type: Two 2-Story Frame Residential Structures

Ward: West

Lot(s): 17.01 & 17.02

Lot Size: 37.50xl08 / 4065 SF and 37.50xl07/ 4035 SF Minimum Bid: $190,375./ Deposit: $19,037.50


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Deposits must be tendered at the auction in the form of certified check or money order made payable to The Ci ty of Newark. NO CASH OR PERSONAL CHECKS ACCEPTED - NO EXCEPTIONS

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PHOTO PROVIDED ONLY AS AN AID Size and Location not guaranteed - For Informationa l purposes only

ALL parcels shou ld be physically inspected, and the Tax Map, and Zoning regulations consu lted

Property Address: 209 & 211-213 Littleton Avenue Block: 1778

Property Type: Two 2-Story Frame Residential Structures

Ward: West

Lot(s): 17.03 & 17.04

Lot Size: 37.50x106 / 4000 SF and 37.50x105 /3970 SF Minimum Bid: $190,375. / Deposit: $19,037.50

ALL PARCELS SOLD IN PRESENT CONDITION " AS IS"

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Littleton _ .. - - ,


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PHOTO PROVIDED ONLY AS AN AID Size and Locati on not guaranteed - For Informational purposes only

ALL parcels should be physica ll y inspected, and the Tax Map, and Zoning regulations consulted

Property Address: 349 W. Market Street

Property Type: Vacant Lo t

Ward: Central

Lot Size: 24.7X99 / 2445.3 SF

Block: 1841 LOI(s): 16




West Market

DepOSits must be tendered at the auction in the form of certi fied check or money order made payable to The City of Newark. NO CASH OR PERSONAL CHECKS ACCEPTED - NO EXCEPTIONS



Property Address: 42 Second Street


Ward: Central

Lot Size: 20.8X89 / 1851.2 SF





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Property Address: 60-60A No. Ninth Street

Property Type: Va can t Lot

Ward: West

Lot Size: 20.5X121.10 / 2482.55 SF



Minimum Bid: $13,500 / Deposit: $2,500.


North 11th

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PHOTO PROVIDED ONLY AS AN AID Size and Locati on not guaranteed - For Informational purposes onl y

ALL parcels should be physica lly inspected, and the Tax Map, and Zoning regulations consulted

Property Address: 325 Sixth Avenue W.


Ward: Central



Lot Size: 37XlOO / 3700 SF Minimum Bid: $14,500 / Deposit: $2,500.


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Property Address: 97 Rose Terrace


Ward: South

Lot Size: 31X130.8 / 4054.8 SF



Minimum Bid: $9,025/ Deposit: $2,500.


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Rose Terrace


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PHOTO PROVIDED ONLY AS AN AID Size and Location not guaranteed - For Informational purposes on ly

ALL parcels should be physically inspected, and the Tax Map, and Zoning regula tions consulted

Property Address: 767 So. Eighteenth Street

Property Type: 1-Story Brick Commercial Structure

Ward: South




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ALL parcels shou ld be physically inspected, and the Tax Map, and Zon ing regulations consu lted

Property Address: 118 Badger Avenue

Property Type: 3-Story Frame Residential Structure

Ward: South

Lot Size: 25XI05 / 2625 SF




Avenue

...

Deposits must be tendered at the auction in the form of certified check or money order made payable to The City of Newa rk. NO CASH OR PERSONAL CHECKS ACCEPTED - NO EXCEPTIONS

PHOTO PROVIDED ONLY AS AN AID Size and Location not guaranteed - For Informational purposes onl y


Property Address: 110-112 Badger Avenue


Ward: South

Block: 2664 Lot(s): 44 45


Lot Size: 50Xl05 / 5250 SF Minimum Bid: $13,500. / Deposit: $2,500.


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.. Deposits must be tendered at the auction in the form of certifi ed check or money ord er made

payable to The City of Newark. NO CASH OR PERSONAL CHECKS ACCEPTED - NO EXCEPTIONS

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PHOTO PROVIDED ONLY AS AN AID

Size and Location not guaranteed - For Informational purposes only


Property Address: 1253 Broad Street


Ward: South

Lot Size: 25X67 / 1675 SF





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Property Address: 161 Pennsylvania Avenue

Property Type: Va can t Lot

Ward: South

Lot Size: 25XlOO / 2500





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Deposits must be tendered at the auction in the form of certified check or money order made payable to The City of Newa rk. NO CASH OR PERSONAL CHECKS ACCEPTED - NO EXCEPTIONS

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Property Address: 64 and 66 Emmet Street Block: 2807 Lot(s): 29 and 28

Property Type: Vacant Land

Ward: East Assessed Value: 66,600

Lot Size: 56XI00 / 5600 SF Minimum Bid: $16,650. / Deposit: $2,500.


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Emmet • •

Street ..

Deposits must be tendered at the auction in the form of certifi ed check or money order made payable to The City of Newark. NO CASH OR PERSONAL CHECKS ACCEPTED - NO EXCEPTIONS

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PHOTO PROVIDED ONLY AS AN AID Size and Location not guaranteed - For Informationa l purposes only


Property Address: 84 and 86 Astor Street


Ward: East

Lot Size: 50X100 / 5000 SF

Block: 2807 Lot(s): 9 and 10



All PARCELS SOLD IN PRESENT CONDITION "AS IS"

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Emmet -• Street I

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Deposits must be tendered at the auction in the form of certified check or money order made payable to The Ci ty of Newark. NO CASH OR PERSONAL CHECKS ACCEPTED - NO EXCEPTIONS


ALL parcels should be physica ll y inspected, and the Tax Map, and Zoning regul ati ons consulted

Property Address: Block: Lot(s):

155, 157 & 159 Sussex Ave. and 42-44 Norfolk St. 2852 34, 35, 36 and 52

Property Type: Vacant La nd

Ward: Central

Lot Size: 98X100 / 9800 5F


Minimum Bid: $32,625. / Deposit: $3,262.50


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Deposits must be tendered at the aucti on in the form of certified check or money order made payable to The City of Newark. NO CASH OR PERSONAL CHECKS ACCEPTED - NO EXCEPTIONS

PHOTO PROVIDED ONLY AS AN AID Size and Location not guaranteed - For Informational purposes on ly

ALL parcels shou ld be physically inspected, and the Tax Map, and Zoning regulations consulted

Property Address: Block: 607-609 and 611-613Clinton Avenue

Property Type: 4-Story Brick Residential Structure and Vacant Lot

Ward: South

Lot(s): 3004 28 and 30

Lot Size: 100X85 / 8500 SF Minimum Bid: $342,250. / Deposit: $34,225.

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32 40 42

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i -:. i I!a I .. '" ~ .. Deposits must be tendered at the auction in the form of certifi ed check or money order made

payable to The City of Newa rk. NO CASH OR PERSONAL CHECKS ACCEPTED - NO EXCEPTIONS

PHOTO PROVIDED ONLY AS AN AID Size and Location not guaranteed - For Informational pu rposes only

ALL parcels shou ld be physica ll y inspected, and the Tax Map, and Zon ing regu lations consu lted

Property Address: 834 So. Fourteenth Street Block: 3009 Lot(s): 34

Property Type: 3-Story Frame Residen tial/Commercial Structu re

Ward: South

Lot Size: 25XlOO / 2500 SF Minimum Bid: $7,500. / Deposit: $2,500.

-ALL PARCELS SOLD IN PRESENT CONDITION "AS IS"

SO. 14th St. ... ... .,. 1 ... ... ... olD ...

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Deposits must be tendered at the auction in the fo rm of certified check or money order made payable to The City of Newark. NO CASH OR PERSONAL CHECKS ACCEPTED - NO EXCEPTIONS

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Property Address: 283 W. Runyon Street


Ward: South

Lot Size: 25X141.5 / 3537.5 SF




ALL PARCElS SOLD IN PRESENT CONDITION "AS IS"

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ALL parcels should be physica ll y inspected, and the Tax Map, and Zoning regulations consulted

Property Address: 456-458 Clinton Place


Ward: South




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Deposits must be tendered at the auction in the fo rm of certified check or money order made payable to The City of Newark. NO CASH OR PERSONAL CHECKS ACCEPTED - NO EXCEPTIONS

PHOTO PROVIDED ONLY AS AN AID Size and Locati on not guaranteed - For Informational purposes only


Property Address: 206 Hillside Avenue


Ward: South

Lot Size: 25X133.1 / 3327.5 SF





, ,

Hillside

Deposits must be tendered a t the auction in the form of certified check or money order made payabl e to The City of Newark. NO CASH OR PERSONAL CHECKS ACCEPTED - NO EXCEPTIONS



Property Address: 486-488 South Seventeenth St. Block: 327 Lot(s): 45


Ward: Central

Lot Size: 50XIOO / 5000 SF




So. 16th Street

11

So. 17th Street

Deposits must be tendered at the auction in the form of certifi ed check or money order made payable to The City of Newark. NO CASH OR PERSONAL CHECKS ACCEPTED - NO EXCEPTIONS



Property Address: 263 Orange Street

68 Nesbitt Street

Property Type: Vacant Lots

Ward: Central

Block: 2862

2862


Lot(s): 17

16

Lot Size: 25X112 / 2800 SF and 25X67 / 1675 SF Minimum Bid: $20,375. / Deposit; $2,500.


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Property Address: 325-329 So. Eighteenth Street

Property Type: Commercia l

Ward: West

lot Size: 75XIOO / 7500 SF




Deposits must be tendered at the auction in the fo rm of certifi ed check or money order made payable to The City of Newark. NO CASH OR PERSONAL CHECKS ACCEPTED - NO EXCEPTIONS



Property Address: 503 South Seventeenth 51.


Ward: Central





•• So. 17th. Street

...

", So. 18th. Street




Property Address: 499 Avon Avenue

Property Type: 2-Story Brick Residential Structure

Ward: South




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Property Address: 611 & 613 Orange Street


Ward: West

Lot Size: 39.7X63 / 2501.1 SF

Block: 1900 Lot(s): 3 & 4


Minimum Bid: $11 ,625. / Deposit: $2,500.


, Orange Street

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PHOTO PROVIDED ONLY AS AN AID Size and Loca tion not guaranteed - For Informati onal purposes onl y


Property Address: 315-321 Lyons Avenue Block: 3054 Lot(s): 34, 35, 36 & 37

Property Type: Vacan t Land

Ward: South

Lot Size: 100.2X119.6 / 11,983.92 SF




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Deposits must be tendered at the auction in the form of certifi ed check or money order made payable to The City of Newa rk. NO CASH OR PERSONAL CHECKS ACCEPTED - NO EXCEPTIONS

•


ALL parcels should be physicall y inspected, and the Tax Map, and Zoning regulations consulted

Property Address: 43A Wickliffe Street Block: 406 Lot(s): 22-25 CMIX & CMl

Property Type: Condo w/parking

Ward: Central

Lot Size: N/A Minimum Bid: $135,000. / Deposit: $13,500.

ALL PARCELS SOLD IN PRESENT CONDITION U AS IS"

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Deposits mu st be tendered at the auction in the form of certifi ed check or money order made payabl e to The City of Newark. NO CASH OR PERSONAL CHECKS ACCEPTED - NO EXCEPTIONS



Property Address: 35 and 37 Third Street Block: 1878 Lot(s): 20.01 and 27


Ward: Centra l Assessed Value: 43,600

Lot Size: 5069 SF Minimum Bid: $10,900. / Deposit: $2,500.


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3rd. Street .. ,.

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PHOTO PROVIDED ONLY AS AN AID

Size and Location not guaranteed - For Informational purposes only ALL parcels should be physically inspected, and the Tax Map, and Zoning regulations consu lted

Property Address: 125 and 127 Halsted Street


Ward: West

Lot Size: 50.2X44.6/2238.92 SF

Block: 4203 Lot(s): 78 and 79


Minimum Bid: $15,100.

Photo Not Available


Deposits must be tendered at the auction in the form of certified check o r money order made payable to The City of Newark. NO CASH OR PERSONAL CHECKS ACCEPTED - NO EXCEPTIONS

STANDARD CONDITIONS OF SALE

1. Each bid is subject to acceptance or rejection by the Municipal Council and the Municipal Council

reserves the right to reject all bids. The Council shall take action to accept or reject bids no later than the Council’s second regular meeting following the date of the auction sale. If no action is taken by the Council as of the date of the second meeting following the date of the auction sale, all bids will be deemed to be rejected without the necessity of any further Council action.

2. The successful bidder shall be required to deposit the amount as set forth by the authorizing

resolution and indicated in the legal advertisement, immediately after being declared the successful bidder and prior to the next property being auction. Failure to do so will result in the property being re-bid and the successful bidder being disqualified from all further bidding. The deposit must be tendered in the form of certified check or money order NO CASH OR PERSONAL CHECKS WILL BE ACCEPTED AT THE AUCTION. NO EXCEPTIONS WILL BE MADE. All monies so received will be credited towards the total sale price of the property being purchased.

3. Unless the City is unable to convey marketable title to the property as indicated within Condition

of Sale number 20, all deposits made by the successful bidder for a property are non-refundable. THE RISK OF LOSS IS ON THE SUCCESSFUL BIDDER.

4. Tax liability on any property which is purchased from the City of Newark shall commence as of

the first day of the first full month following acquisition of the property from the City. 5. All purchasers shall be required to deposit, at the time of the closing, in addition to any and all

costs, a sum equivalent to one-quarter (1/4) of one year's taxes on the property to be held in escrow without interest and applied as liquidated damages if any of the following conditions occur:

a. Expiration of eighteen (18) months from closing without a Certificate of

Occupancy issued for new construction; or

b. Expiration of six (6) months from closing without a Certificate of Occupancy or a Certificate of Continued Occupancy issued for rehabilitated properties; or

c. Expiration of sixty (60) days from closing without the completion of grading and

fencing of vacant land in accordance with the requirements of the City Code and of these conditions of sale or expiration of ninety (90) days from closing without completion of a temporary fence where new construction is being undertaken.

6. In addition to other closing costs at the time of closing, successful bidders shall be required to

pay a refundable deposit equivalent to $12.00 per total square foot. This money will be held in escrow by the City without interest and shall be retained by the City as liquidated damages if the following conditions are not satisfied:

a. Other than properties where new construction is proposed which are governed by

subsection (c) below, the perimeter of ALL properties must be fenced and secured within sixty (60) days of closing.

b. Vacant land must be properly graded and fenced within sixty (60) days of closing.

c. In those instances where new construction has been proposed the owner must do the following: (1) construct a temporary fence within ninety (90) days of closing (2) begin construction within six (6) months of closing, and (3) apply for a certification of Occupancy from the City of Newark within eighteen (18) months of closing.

d. The owner must notify the Division of Housing and Real Estate by registered mail that

the above conditions have been met within the specified time periods. The fence deposit required under this section shall be forfeited if any of the following conditions

are not satisfied. a. All vacant lots must be fenced and graded within sixty (60) days of closing.

b. In those instances where new construction has been proposed on the property, the purchaser must: (1) construct a temporary fence within ninety (90) days of closing; (2) commence construction within six (6) months of closing; and (3) complete construction and apply for a Certificate of Occupancy from the City of Newark within eighteen (18) months of closing.

c. The purchaser must notify the Division of Housing and Real Estate in writing by

registered mail that the above conditions have been satisfied within the required time periods.

d. All fencing must be constructed in accordance with City Ordinance 14:13-4 as follows:

(1) Minimum height - 6 ft. (2) Fencing material must be galvanized metal. (3) Minimum 2 inches outside diameter galvanized pipe for all line posts. (4) Minimum 2 1/2 inch outside diameter for all terminal posts, gates, ends, and

corner posts. (5) All terminal posts must be set in concrete footings at a minimum of 30 inches

from the ground. (6) All line posts must be driven a minimum 30 inches into the ground. (7) Fencing material must be of a minimum number 9 gauge galvanized wire with a

2 inch mesh; and (8) Coil spring minimum number 7 gauge wire to provide proper tension.

In no case should barbed wire, wood or any other material dangerous to public health and safety be used.

e. It shall be the continuing responsibility of the purchaser of the property to maintain the fence and protect the property for so long as the property shall remain vacant.

7. If the purchaser complies with the requirements of Conditions of Sale numbers 5 and 6 within the

time periods set forth therein, the purchaser shall be entitled to the return of the deposit being held in escrow. Notification should be sent by the purchaser to the Division of Housing and Real Estate in writing by registered mail no later than ninety (90) days from the time of closing requesting an inspection of the property to verify that said fence has been erected or after six (6) months that construction has begun. In those cases where the purchaser has elected to improve the property, a second written notification including a copy of the Certificate of Occupancy or Certificate of Continued Occupancy should be sent to the Division of Housing and Real Estate no later than eighteen (18) months or six (6) months, whichever is applicable, from the date of closing in order to have deposit refunded.

8. All bidders must appear in person at the auction and upon being designated as the successful

bidder, must present identifying credentials and complete a certification of identification. A person bidding on behalf of a corporation must, upon being designated as the successful bidder, present a copy of the Certificate of Incorporation and a letter of authorization of the corporation. A person bidding on behalf of a partnership or using a trade name must, upon being designated as the successful bidder, submit a copy of the Certificate of Trade Name (partnership) and a letter of authorization from all other partner(s). No bidder may submit a bid on behalf of another except that a husband or wife may bid on behalf of both.

9. IT SHALL BE THE SOLE RESPONSIBILITY OF THE SUCCESSFUL BIDDER TO INITIATE ANY EVICTION PROCEDURES AGAINST ALL OCCUPANTS, WHETHER LAWFUL OR UNLAWFUL, OF ANY PROPERTIES PURCHASED BY THE SUCCESSFUL BIDDER THROUGH AUCTION.

10. The successful bidders shall not sell or otherwise transfer title to any property purchased through

auction, or any part thereof, to a non-profit or non-taxable organization for a period of five (5) years from the date of closing on the property. Such clause shall be included in the deed.

11. Successful bidders shall be required to pay at time of closing the costs of legal advertising of the

subject property, transcript, and appraisal report. 12. Successful bidders shall be responsible to pay the costs of recording deeds for properties

purchased through auction and agree that such deeds shall be recorded on behalf of the successful bidder by the Corporation Counsel of the City of Newark. Successful bidders shall not be permitted to assign their bid nor any right, title or interest in the property on which the bid was made to any other person or entity prior to closing.

13. If a successful bidder is or has been a tenant of the City and is more than one (1) month in

arrears for rent due to the City or is indebted to the City as a result of a prior tenancy, he/she shall be disqualified as a bidder, and any deposit made by such unqualified bidder shall be forfeited to the City; in addition, the City may pursue all other legal remedies that it may have against such unqualified bidder.

14. All conveyances shall be by quitclaim deed. Title shall close within sixty (60) days after issuance

of written confirmation of the acceptance of the bid by the Municipal Council and shall be held at the City's Department of Law, City Hall, 920 Broad Street, Room 316, Newark, New Jersey 07102, between the hours of 9:00 a.m. and 4:00 p.m. prevailing time, but if the last day for closing title falls on a Saturday, or legal holiday or a day on which City offices are closed, then title shall close on the following business day. TIME IS OF THE ESSENCE. NO POSTPONEMENT OF CLOSING IS PERMITTED UNLESS:

a. The City's title is unmarketable, in which event the City shall be allowed a

reasonable time to perfect title and to close. If the unmarketability of title relates to a valid federal encumbrance against the property, the City, after being timely notified of this defect by the purchaser, will endeavor to obtain within a reasonable time after such notification a release or discharge of such lien. If the City is successful in this regard, then part of the consideration to be paid by the purchaser at closing shall be in the form of a certified check made payable to the United States of America for the amount to be paid for such release or discharge.

b. There be a written request, containing the reasons therefore, made by the

purchaser to the Division of Housing and Real Estate in writing by registered mail no later than fifty (50) days after issuance of written confirmation of the acceptance of the bid by the Municipal Council and the Division of Housing and Real Estate, in its sole discretion, determines that there is cause to postpone the closing and grants the purchaser’s request for a postponement.

15. Payment in full for all properties purchased through auction shall be made by the purchaser to

the City upon final closing. If the property is an occupied dwelling (as defined by the Division of Housing of the New Jersey Department of Community Affairs), the purchaser shall further be required to pay all State inspection fees outstanding as of the date of closing. The City will adjust for rents in the month of closing.

16. Except in such cases as permitted in Newark Revised Ordinance 2:4-15, no sale shall be made to

any officer or employee of the City of Newark. Any sale not in accordance with Newark Revised Ordinance 2:4-15 shall be null and void.

17. The sale is to be made subject to such state of facts as an accurate survey may disclose, existing

tenancies, rights of persons in possession, zoning ordinances, easements, conditions, covenants and restrictions, codes and ordinances of the City of Newark as regulated by the Division of Health and Human Services and the Police and Fire Departments. No representations of any kind are made by the City of Newark as to the conditions of the property. Said premises are being sold in the present condition "AS IS".

18. The sale price for any property purchased through auction may not be used by any person(s)

before any County Board of Taxation, State Board of Tax Appeals or in any other court of this State to challenge the assessment with respect to the subject property nor may same be used as a comparable sale to challenge assessment with regard to other properties.

19. This sale is also subject to further conditions that if the State of New Jersey or upland owner has

any rights or claims to the land being sold herein by reason of a riparian interest or otherwise, any charges levied or so levied by the State of New Jersey or upland owner for said riparian interest or otherwise shall be borne by the purchaser and shall be in addition to the sale price bid by the purchaser for the property.

20. Notice of any alleged defect in title or claim of unmarketability shall be given to the City Division

of Housing and Real Estate in writing by registered mail no later than thirty (30) days after issuance of written confirmation of the acceptance of the bid by the Municipal Council. If the title to the property shall prove to be unmarketable, the liability of the City shall be limited to the repayment to the purchaser of the purchase price without any liability for costs, expenses, damages or claims. Failure of the purchaser to give written notice in the manner and within the time period set forth herein shall be deemed conclusive evidence that the purchaser accepts the title in its present condition.

21. All prospective purchasers are hereby placed on notice that no employee, agent or officer of the

City of Newark has authority to waive, modify or amend any of the conditions of sale.

22. If the successful bidder was the sole or part owner of the property purchased through auction at the time that the City acquired title thereto through tax foreclosure, said bidder may not reacquire the property directly or indirectly without complying with the following condition: THE SUCCESSFUL BIDDERS OF ANY PROPERTY AT THIS AUCTION, BY MAKING SUCH BID, AGREES TO PAY THE CITY AT CLOSING OF TITLE THE DIFFERENCE, IF ANY, BETWEEN THE TOTAL AMOUNT OF TAXES, PLUS INTEREST AND PENALTIES, DUE AT THE TIME THAT THE JUDGMENT OF FORECLOSURE WAS ENTERED AND THE AMOUNT OF THE SUCCESSFUL BID.

23. All sales are subject to present tenancies. There are no representations or warranties made that

any tenancy will continue beyond time of closing title. Leases are available for review and discussion at the Division of Housing and Real Estate, 920 Broad Street, Room 421, on business days between the hours of 9:00 a.m. and 4:00 p.m. Call for an appointment at 733-8046. No discussion or review of leases will be allowed to occur at the auction.

24. It is conclusively presumed that prior to submitting a bid for a property at auction, a bidder shall,

at a minimum: (a) verify the exact location, including the correct street address and lot size, of the property on the Official Tax Maps which are available at the Office of Assessment, City Hall, Room 101; (b) verify the zoning restrictions to ascertain the legal use of the property (this information can be obtained from the City Zoning Office, City Hall Room 112; and (c) make a personal inspection of the property (both interior and exterior). Bidders shall bear sole responsibility for taking these actions and shall assume the risk of their failure to do so as all properties are being sold “as is” by the City and all sales are final.

25. The City of Newark reserves the right to remove any property from the auction for any reason

whatsoever up until the time of the auction. Notice of removal will be posted prior to the commencement of the auction.

26. It is presumed that all bidders have reviewed and understand the terms and conditions as set

forth herein. The City of Newark, its officers, employees, agents, servants and representatives may provide responses to questions concerning these conditions of sale and such responses are solely provided for the convenience of bidders and shall not be considered a part of these conditions of sale.

27. A successful bidder shall not convey any property purchased through auction for a period of two

(2) years from the date of closing of title unless:

a. The property was a vacant lot when purchased through auction and a new structure was thereafter constructed on the property; or.

b. A structure has been rehabilitated and a Certificate of Occupancy and/or a

Certificate of Continued Occupancy has been issued by the City. 28. The failure by the purchaser to fully comply with the terms, conditions, requirements and

regulations of sale as herein contained shall be considered, at the option of the City of Newark, as a material breach of the Conditions of Sale for the property and the City may, at its option, declare said contract or purchase terminated and at an end. If that occurs, all monies paid on behalf of the purchase price, by way of deposit or otherwise, may be retained by the City as its liquidated damages and the City may thereafter resell the said property and/or pursue such other and further legal and/or equitable remedies as it may have and the defaulting purchaser shall continue to remain liable for all damages and losses sustained by the City by reason of any such default.

29. No bids shall be considered from anyone who had previously been selected as the successful

bidder on the same property and who, through no fault of the City of Newark, failed to close title to such property.

30. The City of Newark shall have the right to seek reversion of title to any property where the

purchaser fails to comply with any of these Conditions of Sale. This right of reversion shall be included within a clause contained in the deed of conveyance for the property.

31. The reversionary right shall be deemed extinguished upon the happening of any of the following:

1. The issuance of a Certificate of Occupancy and/or a Certificate of Continued Occupancy with a copy sent by the purchaser by registered mail to the Division of Housing and Real Estate, 920 Broad St., Room 421, Newark, New Jersey; or

2. The grading and fencing of vacant land to the satisfaction of the Building

Department.

32. RESERVATION: None of the provisions set forth herein which require work to be performed subsequent to conveyance of title are intended to or shall be merged by reason of any deed transferring title to the property from the City of Newark to the purchaser or any successor in interest and any such deed shall not be deemed to effect or impair said provisions and Conditions of Sale. The specific Conditions of Sale which shall survive closing of title are as follows: Conditions of Sale numbers 6 and 27.

CORY A. BOOKER MAYOR

MUNICIPAL COUNCIL

DONALD M. PAYNE, JR., COUNCIL PRESIDENT COUNCIL MEMBER-AT-LARGE

ANIBAL RAMOS, JR., VICE PRESIDENT COUNCIL MEMBER, NORTH WARD

AUGUSTO AMADOR, COUNCIL MEMBER, EAST WARD

RAS BARAKA, COUNCIL MEMBER, SOUTH WARD

MILDRED C. CRUMP, COUNCIL MEMBER-AT-LARGE

CARLOS M. GONZALEZ, COUNCIL MEMBER-AT-LARGE

LUIS QUINTANA, COUNCIL MEMBER-AT-LARGE

RONALD C. RICE, COUNCIL MEMBER, WEST WARD

DARIN SHARIF, COUNCIL MEMBER, CENTRAL WARD

MICHAEL E. GREENE, ESQ., ACTING BUSINESS ADMINISTRATOR

STEFAN PRYOR, DEPUTY MAYOR/DIRECTOR

DEPARTMENT OF ECONOMIC AND HOUSING DEVELOPMENT

Newark Public Real Estate Auction

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Transcript of Newark Public Real Estate Auction