A group of local investors has purchased the Downtown restaurant, bar and nightclub in Red Bank, with plans to transform it for the post-COVID world, according to real estate firm Bielat Santore & Co.
The eatery at 8-10 W. Front St. has long been a nightlife destination in the borough since 1990, the Allendale-based brokerage said in a news release. But the new owners are also planning a new concept for the site, which they purchased along with the liquor license.
“It is in need of change,” Richard Santore of Bielat Santore, the broker for the sale, said in a prepared statement. “The days of crowded bars and nightclub venues have been pushed behind us by COVID-19. The truth of the matter is that those concepts were struggling even before the virus hit. Nightclubs had become a weekend business, at best, and the late-night bar business has been declining for years.”
The new owners intend to renovate the building and introduce a new food and beverage concept, with an opening planned for spring 2021.
“I have always been a believer in food,” Santore said. “You can get a drink at any bar or restaurant, but the ability to consistently create, prepare and serve value-oriented, quality food is what keeps patrons coming back for more.”