Page 18 - RE-NJ March 2022
P. 18

16 MARCH 2022
 There were skeptics, as Steven Denholtz recalls, but he has taken the long view about
his company’s recent move to Red Bank’s lesser-known west side neighborhood.
He has also taken it in stride.
“In retrospect, you’re an idiot or a genius,” Denholtz said. “It depends on what happens.”
Nearly three years later, Denholtz Properties has undoubtedly found a home in the municipality’s west end. It has also taken another key step in its plan to help jumpstart the neighborhood: In mid-March, the firm launched leasing at a new
57-unit luxury apartment building
at 118 Chestnut St., adjacent to its headquarters and to NJ Transit’s Red Bank station, making good on a plan that began around 2016.
In the meantime, the area has gained new amenities such as a high-end food market that opened in 2020,
as progress continues on other development projects, paving the way for what Denholtz expects
will be continued investment in the popular Monmouth County borough.
“What we wanted to do here — I think we’ve accomplished,” said Denholtz, whose firm has invested some $50 million in the municipality. “We wanted to help reactivate the
west side of Red Bank and, just over the time we’ve been building, it’s amazing to see what’s going on. People are really excited about it.”
The Rail at Red Bank Station, as the new apartment building is known, is indeed part of that excitement. Designed by Rotwein + Blake, the four-story structure has revitalized the former site of two shuttered restaurants and a vacant lot at Bridge Avenue and Chestnut Street, about a five-minute drive from
the Garden State Parkway and a 15-minute walk from the downtown. And it has risen alongside the developer’s newly renovated, 30,000-square-foot office building
that houses more than 60 of its employees, most of whom relocated from its former headquarters in Matawan.
Denholtz said the pandemic slowed construction, but with leasing now underway, The Rail could welcome residents as soon as early May. His firm hopes to draw renters with the building’s spacious, upscale homes and amenities such as three outdoor terraces, a lounge and a fitness center, plus immediate access to NJ Transit’s North Jersey Coast Line.
The Rail also has some 7,000 square feet of ground-floor retail space that will serve as a perk for residents and an opportunity to bring new
Denholtz unveils luxury rentals, retail space in latest investment in Red Bank
By Joshua Burd
 Steven Denholtz, CEO of Denholtz Properties, says his company has embraced Red Bank since moving its headquarters there in 2019. The development firm’s latest addition to the borough is The Rail at Red Bank Station, a new 57-unit luxury apartment building at 118 Chestnut St.
Photo by Aaron Houston for Real Estate NJ

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