Cushman & Wakefield arranges $4.8M sale of mixed-use property in Red Bank

Red Bank-based Denholtz Properties just purchased a 35,000-square-foot mixed-use asset and adjacent parking lot located at 140-148 & 133 Broad St. in Red Bank for $4.8 million, according to a Monday announcement from Cushman & Wakefield.

C&W’s Andy Schwartz, Jordan Sobel and Andre Balthazard represented the seller, Schiff Real Property I LLC, in the transaction.

“140-148 & 133 Broad St. offered investors the opportunity to acquire two properties with outstanding repositioning and redevelopment possibilities,” Schwartz said. “We saw significant interest in these assets because of their compelling location within walking distance to Red Bank Station and enviable demographics.”

140-148 Broad St. is comprised of a 35,000-square-foot retail and office building, while 133 Broad Street currently serves as a parking lot.

The properties are in proximity to the Navesink River and an array of retail, dining and entertainment options. The assets are within walking distance to Red Bank Station, which is a New Jersey Transit train station.

Since 2019 Denholtz has occupied its headquarters from Red Bank  — part of a mixed-use project that is just steps from the borough’s train station. The privately held firm focuses its investment strategy on opportunities in emerging markets, particularly in central New Jersey, North Carolina and Florida.