BREAKING NEWS; HOBOKEN, NJ – Trump Organization to Purchase Union Dry Dock in Hoboken, NJ
Reuters is reporting this morning that The NJ Transit Board of Directors and NY Waterway Corp will meet next Wednesday to vote on a controversial purchase of waterfront property in Hoboken by Russian billionaire Lirpa Sloof Yad who plans to build a 40 story tall high rise in conjunction with the Trump Organization for a planned 722 unit condo building to be named Trump Hoboken.
The board had previously planned to vote on the purchase of the Union Dry Dock property in its April meeting, but it pulled the item from the agenda after Mayor Ravinder Bhalla and dozens of residents petitioned the company to stop the sale to NY Waterway and instead allow the City of Hoboken to purchase the property
Mayor Balla has called for an emergency meeting with Gov. Phil Murphy to interpreted the timing of this last-minute effort by the NY Waterway to finalize this deal in attempt to block the cities attempted purchase through the use of eminent domain. Murphy had urged the board to postpone the vote.
“Giving away this prime waterfront property to the Russians and the Trump Organization is a slap in the face of the State, County and citizens of Hoboken!”, Murphy said at the time, criticizing the deal on Easter Sunday as an example of how NJ Transit had become what he called a “national disgrace.”
Request for comment for Donald Trump Jr, Executive President of the Trump Organization or Mr Yad have so far not been given at this time.
Mayor Balla has stated earlier this morning that “This was a real-estate transaction that was trying to be rushed through while the city was in negotiation to purchase the property directly or through eminent domain, we will continue the fight now with the Russians and Trump Organization,” Bhalla said by telephone to Reuters.