Mayor Steve Fulop and his family will be moving to a new home just a few blocks south of Riverview Park as they continue to expand their growing real estate footprint.
Back in June, a stunning property at 272 Ogden Avenue was sold for $2.4 million. While the purchase was conducted through a corporate LLC, Hudson County View reported that Steve and Jaclyn Fulop were the buyers of the historic home.
“Jersey City will always be our home, and we’re very grateful to have found this property within our current neighborhood that will be able to support our growing family and also allow Steven’s parents to move in with us eventually,” the mayor and his wife said in a statement. “Family is incredibly important to us both, and the opportunity to bring us all closer together while staying in the neighborhood we love was impossible to pass up.”
Jersey Digs extensively profiled the 5,232-square-foot home atop the Palisades back in 2018 when it was the home of NFL offensive guard Justin Pugh. The five-bedroom, five-and-a-half-bathroom loft-like space features an elevator, two decks, and a hot tub plus swimming pool with programmable LED lighting that changes colors.
Other highlights of the property include a private theater room, several fireplaces, and a four-car garage. The Fulops, who wed in 2016, put an $800,000 down payment on the property and utilized BCB Community Bank for both a line of credit for the down payment and to finance the remainder of the $1.6 million purchase price. In a recently published article, Real Garden State takes a deeper look into this property purchase and the LLC behind it.
The property was managed by Dixon Leasing, who has a long-term tenant at the home that will pay the Fulops an $11,995 monthly rent for the time being. It appears the property was never officially listed for sale, and the mayor’s chummy relationship with both Dixon Advisory and BCB Community Bank was called into question by a 2019 investigative piece by Bloomberg News.
Per that reporting, Dixon contributed $200,000 to a super PAC that supported Fulop’s unsuccessful bid for governor and oversaw a $485,000 renovation of the mayor’s current home, also along Ogden Avenue. The Fulops later purchased a home in Narragansett, Rhode Island, for $820,000 in 2018, with BCB providing financing and Dixon overseeing an extensive renovation.
The Fulops, who have two children, purchased their current Jersey City home in 2015 for $845,000 and intend on living there for the time being. Between the three homes, the pair have locked up over $4 million in real estate.
Mayor Steve Fulop, formerly employed by Goldman Sachs before getting into politics, makes $117,781 annually serving as Jersey City’s mayor. Jaclyn owns Exchange Place Physical Therapy, which operates three locations in Hudson County.
