The rent increase at Hoboken’s Marineview Plaza will be 3.5 percent for the 1st quarter of 2024, at least temporarily resolving concerns about a 9.5 percent hike that was proposed at the beginning of the month.
By John Heinis/Hudson County View
“This temporary, three-month agreement will allow the City and the property owner to continue to engage in discussions and for the City to continue its detailed legal review process, which remains ongoing,” Mayor Ravi Bhalla wrote in a letter to Marineview residents yesterday.
“We remain steadfast in the prior representations that the rents are regulated by either the New Jersey Housing Mortgage and Finance Authority (HMFA), or by the City’s rent control rules and regulations.”
He went on to thank the property owners, Marineview Plaza Associates, for the temporary reprieve.
They indicated on December 4th that the proposed 9.5 percent increase was pending review from the New Jersey Housing and Mortgage Finance Agency, as HCV first reported.
Since then, NJHMFA Executive Director Melanie Walter sent a letter to Hoboken Business Administrator last Friday, December 15th, indicating that they do not regulate rent increases in this building.
“Marineview Plaza prepaid its HMFA financing in 2015. Following that prepayment, it remains subject to limited ongoing Agency oversight for the original mortgage term; i.e., March 1, 2025, pursuant to the Agency’s prepayment regulations at N.J.A.C. 5:80-5.10,” she wrote.
“Pursuant to N.J. Stat. § 55:14K-7c, however, NJHMFA does not have regulatory authority over rent increases in market rate units at this income-restricted property at this juncture. That is not among the Agency’s retained regulatory powers. In the absence of statutory authority, NJHMFA cannot approve or deny rent increases at the property, and has taken no action to effectuate either approval or denial.”
City spokeswoman Marilyn Baer indicted that the payment in lieu of taxes agreement (PILOT) with the city remains in effect, but since the mortgage has been paid off, local rent control rules are now in effect at Marineview.
” … The City’s position is clear – rents are either regulated by the HMFA or the City’s rent control, and that a 9.5% increase was not permitted in any way, shape, or form,” she noted.
“As the Mayor’s letter stated, the administration, in partnership with Councilman-Elect Paul Presinzano, Councilman Mike DeFusco, Councilman Joe Quintero, Assemblyman Raj Mukherji, and the entire City Council, will do anything and everything possible to ensure that the residents of Marineview Plaza will continue to have rents that are lawful and within reason.”
She did not response to a follow-up question asking approximately when the mortgage was paid off.
Presinzano, who saw the possibility of a rental increase become a hot button issue during the tail end of this month’s runoff election that he won, said he was happy to work with the administration to effectuate a positive outcome during the holiday season.
“The rent increase is a complex issue, and in the next 90 days, the city and myself will do everything in our power to protect Marineview residents. While this solution is only for the next 90 days, I hope this will allow residents to enjoy the holidays with their family,” he said.
Outgoing Assemblywoman Annette Chaparro (D-33), who lives at Marineview, said she was glad to be able to help her neighbors to some degree.
“I am happy to hear that everyone is working together, the residents needed some guidance. I was happy to be a part of the discussions with the NJHMFA.”
With rents between $1000 to $1500 a month still a fantastic deal.
Open the wait list
I throw up a little in my mouth when I see press and Bhalla falling over themselves to cover this and giving zero coverage of what’s been going on next door at applied Hudson square north. Not even 1 story, really? Once the people are gone you can’t get them back years later. Please cover that. Marine views 1200 rents are a distraction. And the press writes about what byalla wants, while applied gets no coverage.
I’ve never even heard the phrase “Hudson Square North” until now so I have no idea what you’re talking about, please indulge me.
I’m sorry you can’t write what you don’t know, just thought you had heard because it keeps coming up in meetings and social media and yet our officials are trying to keep it out of the press. Meanwhile they rally next door at MVP where the rents are low and will stay low, and thanks for your excellent coverage at how low they are. What’s happening next door to dozens of tenants nearly defies belief and was made public at a council meeting and all of the council people were visibly shocked, but then there was silence. I thought you knew because Tess Miller sent you an email 11/30 but It didnt explain the whole situation (do you check your tips mail? If you missed it please take a look, it was after the holidays so everyone was busy.) Imagine being afraid to lose your home after doing nothing wrong. Whether a home is rent controlled or not, increasing rent 20 percent every MONTH is an attempt to harass and evict as retailation. To boil it down, what’s happening is this. Hudson Square North tenants formed a tenants assoc in 2022 to address health issues not being fixed in the building. The people in charge suddenly weren’t offered a new lease and then were told they would get a new lease every month with a steep increase until they left. Here is the May 2023 coundil meeting where a man says they increased his rent each month from $2K to $2.5K to $3 and then began adding fees. “A month?” the council asks, agape. But apparently the councilman for that ward and both candidates are afraid of Applied and I think they are donors to campaigns? And the city has to negotiate with them. No one should be allowed to increase rents each MONTH. It’s obviously a way to circumvent state law about harassing tenants. PLEASE EVERYONE SEE 1:50 (hour and 50 minutes) into this meeting and watch the extent of Elvi’s speech. This behavior will result in any families or middle class having to leave town and is not what we want town to look like. These are good people who pay their rent. https://www.youtube.com/watch?v=IkQn5rpXvNs Watch what Elvi says over a few minutes, it gets worse and worse. And then ask why we have no rallies fines or enforcement when Ironstate does this? The city has no leverage? There should be a law against this then.
Bhalla was living in a Applied/ Ironstate building while his mansion was being expanded
Wonder if he got a discount?
“ Once the people are gone you can’t get them back years later.”
?? What the heck does that even mean?
Its obvious? Once you harass someone out of a building by tripling their rent, then its found to be illegal, the people are gone forever, maybe on the streets. And our town looks even more whitewashed then before. Only drunk santas remain. Is it fair that only they can afford this town? And only because their parents help.
Is it fair that a few political connected insiders get their life subsidized by everyone else for life?
Thank goodness that people who can afford to live in Hoboken without being subsidized still want to live here.
It is not a Rent Control building
It has a percentage of affordable apartments and thats it
The notion that a single piece of paper was supposed to exempt these buildings at time of construction and if the owner can’t provide proof ( city probably lost the files ) it falls under RC will not hold up in court
Its 30 years from the FIRST COO
People are really getting sick and tired of hearing about rent control in luxury buildings and low rent for people that aren’t within the low income guidelines
One of the residents there in 235 is constantly talking about rank control yet they are always traveling all over the country and fancy hotels and posting pictures all over social media of their luxury lifestyle
Isnt that the point though, they can afford these yearly increases. Yet next door at the applied housing building they already already high and now trying to raise them MONTHLY on hard working families. Unconscionable to raise so much and the real story is. Where is the city’s statement telling them to knock if off? They don’t need to hurt people. This is like years ago. Do we turn away from families again? Would like to hear from every council person on this just like we heard from them on book sanctuaries. Paul too. Just my opinion but the facts are public at last.
Old Guard Politicos have always known how to set up, rig and work the system.
It is Christmas every day in Hoboken if know the right people.
i wont pretend to know about the financials or whats legal when it comes to 235 hudson,i just know applied/iron state have made out pretty well in recent yrs and will likely continue to
Oh that’s right, HFHA only cares about non means tested gentrifiers like their “leader” Cheryl and their small 5 member inner circle
And Rafi is doing what Rafi has always done: NOTHING-
At least no more of Fallick’s nasty videos and quotes on big money mailers attacking the new councilman. I hope nobody ever takes her calls again.
After her gross display at the last council meeting who would take her seriously?