GROVE STREET, DOWNTOWN JERSEY CITY, NJ

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When first acquired by the Fund, this property located on Grove Street was an outdated rental property, comprising of four single floor apartment units.  Due to its prime Downtown Jersey City location the Dixon Projects team determined that the property would be best served as a luxuriously renovated 2-family townhome that would appeal to the burgeoning high-end rental market in this section of Jersey City.   Completed in August 2014, the finished product, a grand 2-family residence that can also readily serve as a single family home is arguably the most elegant townhome in the area.

The transformation of this property began with the Dixon Projects team creating architectural plans detailing the proposed conversion to a two unit, 2,700 square foot residence, comprising of a spacious triplex over a ground floor apartment.  The triplex includes 4 bedrooms and 4.5 bathrooms and features an open floor plan and full height parlor level windows that allow for an abundance of natural light. The breathtaking parlor level boasts a state-of-the-art chef’s kitchen with custom maple cabinetry, quartz countertops, a Bertazzoni four burner gas range, and an eat-in island that leads out to a spacious rear deck and freshly manicured backyard. The ground floor has also been meticulously renovated, and the 1 bedroom, 1 bathroom apartment perfectly complements the owner’s triplex as either an income-producing rental unit or an in-law suite.