240-242 Terrace Ave, Jersey City
Three-family · built 1958 · Block 1202, Lot 15.
Building permits
- New construction, issued May 7, 2026, estimated cost $185K, 1 unit, 2 stories, described as “Construction of new accessory dwelling unit (ADU) at rear of 3 story 5 unit building ( attached w. Cnst-26-1103)”
- New construction, issued May 7, 2026, estimated cost $904K, 2 units, 3 stories, described as “New 3 story residential building with 5 units ( & folded sprinkler plans)”
- Alteration, issued Aug 13, 2025, estimated cost $15K, 2 stories, described as “Complete demolition of home”
- Demolition, issued Aug 13, 2025, described as “Complete demolition of home”
- Alteration, issued Aug 25, 2005, described as “1 water heater”
- Alteration, issued Mar 9, 2001, described as “Elect.work”
Property taxes
- Assessment
- $638,200
- 2025 tax
- $14,902
- Assessed land
- $262,000
- Assessed improvements
- $376,200
Zoning
R-1 (Neighborhood Housing).
Flood zone
Current FEMA flood map: zone X, minimal flood hazard.
Recent sales
- Sep 5, 2019: $825,000, 3,356 sq ft, sold with other lots
Open-market sales since mid-2019, from the state’s SR1A sales file.
Board and land use applications
- Planning Board case P2025-0083: Site Plan, Approved, applied Apr 16, 2025. The Applicant proposes to demolish the existing structures and construct a new three- (3) story, five- (5) family residential building plus one (1) ADU and related site improvements.