Page 49 - RE-NJ Nov.2021 #59

DENHOLTZ BREAKS GROUND ON WATERFRONT CONDOS IN RED BANK
start of construction has paved the way for what will be a four-story complex with open floor plans, upscale finishes and modern designs, including six single-floor homes ranging from 2,142 to 2,496 square feet and four duplex penthouses spanning more than 2,935 square feet.
The complex, designed by Rotwein+Blake, is at the entrance
of downtown Red Bank and a short walk from its vast selection of shops, restaurants and cultural institutions. In addition, the building’s elevated riverfront location and floor-to-ceiling glass panels will provide panoramic
REALESTATENJTM 47 views of the Navesink River and
Marine Park.
Those on hand for the groundbreaking included Denholtz executives, project partners
and Red Bank Mayor Pasquale Menna. The event came as the firm prepares to open another project in the borough, a 57-unit luxury apartment complex known as The Rail at Red Bank, which will bring new residents and retailers to the municipality’s west side.
Deborah James of Heritage House Sotheby’s International Realty is the realtor for Southbank At The Navesink.
Denholtz Properties has
broken ground on a new luxury condominium complex in Red Bank, in a development that will transform a long-dormant parcel along the Navesink River.
Plans for the project, located at 4 Boat Club Court, call for a 10-unit complex of two- and three-bedroom townhomes just steps from the borough’s downtown. The locally based developer now aims to deliver what’s known as Southbank At The Navesink by late 2022, joining local officials in early October to mark the start of construction.
“Since moving our headquarters to Red Bank
in 2019, we
have sought to
make a positive and lasting impact on the borough through visionary
real estate
projects such
as Southbank At The Navesink,” said Steven Denholtz, CEO of Denholtz
Properties. “Although this property has proved difficult to redevelop in the past, we knew its location paired with our experience would allow us to create something truly unique. We are excited to celebrate this milestone with the Red Bank community and look forward to bringing this project to life over the next year.”
In a news release, Denholtz noted that it acquired the site last year after other developers had failed to move past the initial planning stages for their own projects. The
Steven Denholtz
Southbank At The Navesink, a planned 10-unit luxury condominium complex at 4 Boat Club Court in Red Bank, will help repurpose a long-vacant parcel along the Navesink River.
Congratulations Lloyd Rosenberg on 30 Fabulous Years
BROOKFIELD EYES 338,000 SQ. FT. LOGISTICS CENTER IN RIDGEFIELD
Brookfield Properties is set to develop nearly 340,000 square feet of new industrial space in Ridgefield, following an affiliate’s purchase of a 19-acre parcel along Route 46.
According to CBRE, which
brokered the deal, a fund backed
by Brookfield Asset Management acquired the site from Stalwart Ridgefield LLC. Plans now call for what’s known as Ridgefield Logistics Center, a proposed 337,592-square- foot warehouse located just south
of the highway and west of Railroad Avenue, capitalizing on a location
10 minutes from New York City
and four minutes from the George Washington Bridge.
CBRE’s investment properties team of Elli Klapper, Jeremy Wernick and Charles Berger, along with Kevin Dudley and Nicholas Klacik, brokered the transaction. The
deal comes as “demand for quality industrial space in New Jersey has reached record levels,” Klapper said, while the supply has dwindled to below 2 percent as of the third quarter of this year.
“The Ridgefield site presents an incredible opportunity for Brookfield Properties, one of the premier real estate developers in the world, to create a LEED-certified distribution facility designed specifically to meet this insatiable demand,” Dudley added.
In a news release, CBRE said the building will have 40-foot clear ceiling heights and ample car and trailer parking. The facility, which is slated to be under construction by early next year, will also benefit from being less than 10 miles from Port Newark-Elizabeth.
“Working together with CBRE on this deal showcased the best our firms have to offer,” Brookfield Properties’ Tyler Mordas said. “We now have 10 separate land parcels in the New Jersey and New York region and anticipate over 3 million square feet of logistics deliveries. CBRE’s valued guidance in this transaction puts us on track to deliver that to the New Jersey market in the next 24 months.” RE
With Love, Ron
Rendering by Rotwein+Blake/Courtesy: Denholtz Properties