605 Grove StJersey City, NJ 07310

For Sale
Call for price

Prime 4,965 SF development land.

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional 4,965 square foot development site is located in the heart of Downtown Jersey City's SoHo neighborhood, known for its high rents exceeding even those in New York City's Financial District. The property is zoned under the JERSEY AVENUE LIGHT RAIL REDEVELOPMENT PLAN, allowing for a proposed 12-story building with 66 residential units. This prime location offers unparalleled investment potential, situated near notable developments such as The Enclave, 100 House, and One Ten Cast Iron Lofts, famous for its iconic David Bowie mural. Studio apartments in this area command luxury rents ranging from $4.08 to $5.10 per square foot, reflecting the strong demand and high rental income potential. The site's address is 605 Grove Street, Jersey City, New Jersey, 07310, in Hudson County. Detailed site plans and comparable lease information are available upon request. This presents a unique opportunity to capitalize on the thriving Jersey City real estate market and create a highly profitable residential development in a sought-after location. The property is classified as both commercial and residential land.

Highlights

  • 66-unit multifamily building
  • 12-story high-rise
  • Prime Downtown Jersey City location, within the city's most expensive neighborhood
  • Situated in the SoHo district, near the iconic David Bowie mural
  • Commands high rental rates

Location Insight

City
Jersey City
County
Hudson
State
New Jersey
Latitude
40.7321811
Longitude
-74.0413051
605 Grove St, Jersey City, New Jersey

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605 Grove St
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