The seven-story office and retail structure at 21 East Front Street has sold for $7 million, according to a deed filed March 23 this week with the Monmouth County Clerk.
The buyer was a New York-based company, 40-40 Northern LLC. The seller was a New Jersey-based limited liability company called 21 E. Front Street Red Bank, whose tax invoices are sent to an address in Weston, Massachusetts.
The seller paid $6.83 million in 2008 for the property, which includes a transparent first floor that once served as a public walkway.
The ground floor store is currently vacant. Last July, Colts Neck resident Carmine Berardi won zoning board approval for a luxury car rental club called Exotic Custom Car Club and Rentals to use the space.
The status of this company, which has not yet opened its doors, could not be immediately determined.
In early 2019, Berardi got permission to open a sub-store in space, but didn’t.
(Photo by John T. Ward. Click to enlarge.)
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