City Bid - Sale of Property at 560 Atlantic Street

The City of Stamford, located in Fairfield County, Connecticut, is soliciting sealed competitive bids for the sale of real property located at 560 Atlantic Street. The property encompasses approximately 3,494 square feet and is situated at the intersection of Atlantic and Dock Streets. This Invitation to Bid (ITB), identified by solicitation number 2023.0113, establishes a minimum bid threshold of $200,000 for the property. The bid submission period runs from June 21, 2023, to July 11, 2023, with bids due by 11:00 AM EDT on July 11, 2023. Prospective bidders must be prepared to execute a purchase and sale agreement with the City of Stamford, which includes paying a 20% deposit of the purchase price upon selection. The successful bidder will be required to complete the transaction within 30 days after finalizing the Real Estate Sales Agreement, with the deposit subject to forfeiture if the transaction is not completed within the specified timeframe.

The solicitation does not specify any set-aside designations or restrictions on the types of organizations that can respond, indicating the bid is open to all vendors. No incumbent vendors or current contractors are mentioned in the documentation. The City of Stamford will not pay any broker's fees related to this transaction, and the sale is contingent upon approval from three city governing bodies: the Planning Board, Board of Finance, and Board of Representatives. While a specific budget range is not provided, the minimum bid threshold of $200,000 establishes the baseline for potential transaction value. Interested parties can contact Kristopher Bottoni at the City of Stamford for additional information, who can be reached at 203-977-4108 or kbottoni@stamfordct.gov. The property sale represents a straightforward real estate transaction with clear terms and a structured bidding process.