Basking Ridge-based real estate firm Academy Capital is inching closer to the opening of its newest condominium development in Greenville, Jersey City. The development group is slated to deliver 20 condominiums later this year, nearly two years after acquiring the parcel at 219-231 Dwight Street. Exclusive sales and marketing for the development is being represented by SERHANT., led by Natalia Rawska and Kevin Oliveira.
Sagi Kadosh, Academy Capital’s chief operating officer, told Jersey Digs that the complex includes seven duplexes and six accessory dwelling units. The lower residences of each duplex will span approximately 1,646 square feet and include three bedrooms and 2.5 bathrooms, while the upper-level residences will span 1,360 square feet and include three bedrooms, two bathrooms, and a private rooftop terrace. Each unit will have a garage space and a shared driveway that allows for two additional parking spaces.
The accessory units, on the other hand, will span 526 square feet across two stories and include one bedroom. Kadosh said that buyers may purchase these units separately, but these apartments do not include parking.
There is a small yard between the accessory units and the duplexes, but the COO said the space can be reconfigured depending on the ownership structure of each residence.
Academy Capital acquired the 17,849-square-foot lot in April 2024, when the city had already approved a site plan for a five-story multifamily building with 50 units and 33 parking spaces. The firm opted to submit a new plan for the current proposal, as it considered condominiums and accessory units a better fit for the neighborhood instead of rentals.
Nick Shah, the founder and CEO of Academy Capital, said that it took more than 15 months to secure approvals for the subdivision plan from the planning board. The project builds on the firm’s previous projects in Greenville, the Heights, and Bergen-Lafayette, where the group has previously delivered duplexes and accessory dwellings.
“It feels great to be part of a community that we are building one building and one block at a time, as well as the jobs that we are creating,” Shah said.
The condominium complex on Dwight Street is also set to benefit from its relative proximity to several business corridors in Greenville, as well as New Jersey City University. New Jersey Route 440 and the MLK Drive Light Rail Station are also less than a mile from the complex.
Jersey Digs reported in April that Academy Capital is also working on a mixed-use development at 792 Communipaw Avenue near Lincoln Park in the West Side neighborhood.
Records from the Hudson County Register show that Academy Capital paid $2 million for the site in 2024. The Jersey City Planning Board then approved a site plan and a subdivision in March 2025.
Shah and Kadosh said the project has an estimated price tag of $8 million. The firm secured a $5.5 million construction loan from California-based Genesis Capital and has over $2.5 million of equity in the development. The city did not provide a tax abatement for the project.
