Developer Looks to Revamp Hudson Place Area

A revamped Teak on the Hudson is celebrating its new ownership on Friday night, with a VIP party on the second floor of the Asian-themed restaurant. For the new landlord—Maridian Properties, under the leadership of Mario Fini—it is the beginning of the transformation of the area.

Maridian Properties now owns six buildings on Hudson Place, making it the largest landlord in the area. 

Fini, 47, who is a batallion chief in the Hoboken Fire Department, said that with a new and revamped Teak, Maridian Properties has the tools to "transform the area." 

Fini took over the building on July 1, from prior owner Michael Accardi, who also owns Lana, which is currently closed and under construction. 

Maridian Properties now owns six buildings on the block across the street from the Hoboken Terminal. 

On Friday night, Teak will celebrate its new ownership with a party for roughly 250 guests. The establishment will see a new menu and a new staff. A party planner has been hired, Fini said, and the second floor will be available for large corporate parties, bar mitswahs and sweet sixteens.  

Next door, in the space formerly occupied by Cammareri's Bakery, a trendy new hair salon will open up, Fini said. 

Another reason to buy the building, Fini said, is the upcoming New Jersey Transit Development of the Hoboken Terminal and downtown area around Hudson Place. After years of delays, both the city and NJ Transit have introduced plans for the 52-acre site. 

"We want to be at the table," Fini said.  

With Teak to fill the puzzle, Fini said Maridian Properties could be an instrumental stakeholder in talks with NJ Transit and the city as the plan develops further. 

"It was a strategic purchase," said Fini, who started as a developer back in 1986. 

The ultimate goal, he continued, is to make the area a hot spot for Hoboken. For example, Warrington Plaza, which Fini said most people don't even know about or simply bypass. 

Fini said he is also thinking to "coin a name for the area." One of the names that have crossed his mind, he said, is "the Rail District."  

While it's unclear what the exact timeline will be of the NJ Transit site development, the new Teak is set to open Friday night, with a VIP party from 6 to 9 p.m. at the upstairs room.