GTA IV was the second reboot for the series. It takes place in a universe separate from the 2D Era, and the 3D Era. The only things that can cross over are businesses and people on the radio, because they aren't physical beings that interact with the story and history. GTA IV and V are in the HD Era. To be honest, I think this may be the last reboot the series will get.
Anyways, I wouldn't be surprised if there is a street that looks like Grove Street - like an easter egg. I'm pretty sure there's a mansion in GTA IV that resembles a mansion (I think Salvatore's?) from GTA III, but story-wise, they weren't the same thing.