Denholtz Properties announces the acquisition of a 35,000-square-foot mixed-use building located at 140-148 Broad Street, an adjacent parking lot at 22 Reckless Place and a nearby parking lot at 133 Broad Street in Red Bank, N.J.
Situated in the heart of downtown Red Bank’s commercial corridor, 140-148 Broad Street is a two-story office building with an attached parking lot at 22 Reckless Place. Located across the street, 133 Broad Street is a 0.61-acre parking lot with 92 spaces that Denholtz Properties plans to redevelop. The properties’ strategic locations at the gateway of Broad Street offer unparalleled access to Red Bank’s eclectic mix of shops, restaurants and cultural institutions, as well as the Red Bank Train Station and Route 35.
Aiming to create the premier corporate destination in Red Bank, Denholtz Properties plans to fully renovate the exterior and interior of 140-148 Broad Street. The exterior renovation will include a full re-facing of the building’s façade to incorporate a modern design with larger windows and weathered reclaimed wood siding. Inside the building, Denholtz Properties will execute a full interior renovation to create a modern layout designed around the needs of today’s office and retail tenants along with adding new common areas and replacing elevators.
“Since day one, our goal in Red Bank has been to highlight the tremendous opportunities for community-focused real estate investment presented by the borough,” said Steven Denholtz, CEO of Denholtz Properties. “We are excited to reimagine 140-148 Broad Street to create a powerful economic catalyst for downtown Red Bank and a gateway to the future of Red Bank.”
The acquisitions mark the latest milestone for Denholtz Properties’ work in Red Bank. Since relocating its office to Red Bank in 2019, the company has sought to make a significant impact on the borough through both real estate investment and a commitment to philanthropic works.
The company recently welcomed its first residents at The Rail at Red Bank, its visionary 57-unit mixed-use community adjacent to the Red Bank Train Station. Designed with both urban-paced commuters and community-minded residents in mind, The Rail at Red Bank’s luxury residences are further augmented by a robust amenities package and 7,500 square feet of ground-level retail combined with a striking modern design to the borough’s emerging West Side neighborhood
Located just a short walk from 140-148 and 133 Broad Street, the company’s Southbank at the Navesink development will build further on the company’s development work in Red Bank. Currently, under construction at a long-vacant lot at 4 Boat Club Court on the Navesink waterfront, the four-story, ten-unit luxury waterfront condominium community has already sold 80% of its residences ahead of its 2023 opening that will redefine luxury living in downtown Red Bank.