Hoboken Mayor Ravi Bhalla has written a letter asking Bozzuto Group CEO Toby Bozzuto to reconsider “unconscionable” rent hikes in light of a couple speaking out against a potential 30 percent increase.
By John Heinis/Hudson County View
“As I have recently communicated to you, there are hundreds of residents in several apartment buildings under control of the Bozzuto Group who are facing a dilemma imposed by your company, that no one should have to deal with: pay rent increases of up to 30% or find another place to live,” Bhalla said in today’s letter.
“Many of these tenants also faced double digit rent increases last year. To be clear, this is not just one or two individuals who have received these massive rental increases. These are a mix of families with children attending our schools, local business owners, young professionals who are looking to set down roots, residents who have lived in the building since it came online years ago, and many more.”
Citing Forbes, Bhalla also pointed out that Bozzuto had $2.4 billion in revenues reported in 2022, as well as that a 30 percent increase would equate to an additional $1,518 per month or $18,216 for the year.
The company owns and/or manages the Courtyard at Jefferson (800 Jefferson St.), the Harlow (1330 Willow Ave.), the Juliana (600 Jackson St.), Park + Garden (1450 Garden St.), the Artisan (1100 Jefferson St.), and the Bexley (1300 Clinton St.).
“I am once again making a final appeal to you, to show some decency as a corporate executive, and to once and for all do the right thing,” Bhalla added.
“I hope you’ll reconsider these unconscionable rent increases, so you can indeed live up to your ‘Corporate Social Responsibility’ statement of ‘making a tangible difference in communities facing homelessness and housing challenges.'”
The mayor also indicated that he has requested time to speak with Bozzuto, but his staff has not accommodated him as of this writing.
Bhalla penned his remarks after Matt and Jamie Burkhard sounded the alarm about the potential increases in a letter to the editor published yesterday.
“All of this comes down to one simple request of Bozzuto, and its CEO, Toby Bozzuto: please be reasonable. Please don’t drive us out of our homes. Please don’t drive our kids out of their schools,” they wrote.
2nd Ward Councilwoman Tiffanie Fisher, who oversees the area where most Bozzuto properties are located, said she is hopeful that a compromise can be reached.
“No Hoboken resident should be subjected to unconscionable rent increases of 20-30%, that are more than double the inflation rate. After several discussions, I was told today that the Park and Garden building owner and Bozzuto are meeting to hopefully agree a more reasonable approach. I’m cautiously optimistic.”
Additionally, 5th Ward Councilman Phil Cohen, who represents the area where the Artisan is located, joined the call to treat Hoboken tenants fairly.
“I hope and expect that Bozzuto will reconsider its actions and do the right thing by my constituents, but if not, I call on the city to pursue all appropriate legal remedies to protect Hoboken’s residents, including the residents at The Artisan, who live in the 5th Ward.”
The Bozzuto Group did not immediately return an email seeking comment.
Editor’s note: This story was updated with a comment from 5th Ward Councilman Phil Cohen.
Several of those properties just lost a 12 year legal battle and now have to provide affordable housing. How is the owner suppose to make up the difference in lost revenue? That is probably why rents are going up 30%, they are losing 10% to affordable.
Bozzuto and its owners, the unions are taking market advantage of the decaying conditions in NYC as people continue to flee. As for inflation, they are about in line with the true inflation now and in 2023.
NYC is more than fine, rents and apartment sale prices are higher than ever and available stock is low. Do you ever go into “the city”, or just cower in your basement to hide away from the big bad “city” people? LOL!
I’m born and bred in NYC. I moved to Hoboken from Manhattan. But yes, Bozzuto is benefiting from the market conditions as people CONTINUE to “Escape from New York!”
It’s a socialist paradise in the Woke-controlled cities where the criminals are given carte blanche. NYC is a shitehole now.
In addition to the hundreds of thousands fleeing, another five figures have fled in 2023 and are now confirmed living in the free state of Florida.
https://nypost.com/2023/01/19/more-new-yorkers-moved-to-florida-in-2022-than-any-year-in-history/
No cowering, no basement and no hiding from the likes of Ravibots like you. Put on your face diaper and go get another poison clot shot.
98% of what you just said is complete MAGA Fox News nonsense, but you knew that. Insistent trolling is all you have in your life, you know it’s ridiculous but it fills your day. We get it.
Go ride the subways at night but first get another clot shot. That will save you from Alvin Bragg’s friends.
Dr. Fraudci is counting on you for more royalties. Obey! 🐑🐑🐑
Again with the complete MAGA Fox News buzzword bingo, like Hoboken’s Rain Man. As has been established, insistent trolling is all you have in your life, you know it’s ridiculous but it fills your day. We get it.
The mayor certainly likes his big union donations that he gets from the likes of ALF-CIO
He likes the water front walkway they built
He likes the charter school building, the same Developer built that his kids went to
Too bad more people in Hoboken don’t have fathers who give them a brownstone.
There are wonderful options in the Heights and West Hoboken section of Union City. Move there and make these places the next happenin’ area. They are safe and the infrastructure is there.
Don’t well off people who can afford to live in Hoboken need to pay even more to keep poor people around to make them feel better about themselves ?