California Closets has vacated its location at 116 Broad Street in Red Bank, opposite Garmany.
In keeping with its reputation for orderliness, California Closets has packed up and left town, and it seems there’s not a stray hanger left behind.
A notice in the window says the business, a franchised retailer located opposite Red Bank’s mini-Rodeo Drive pairing of Garmany and Tiffany & Co., moved out “due to the sale of this building.”
The building features a modern facade attached to an old house. It is surrounded on three sides by property owned by St. James Church and Red Bank Catholic.
Shiva Nili, who owned the store with husband Danesh, tells redbankgreen via email that the move happened because “the owner of the building sold the building and we had to relocate.”
According to Monmouth County records, the seller is Red Bank 116 LLC, which gives its address as a location in North Brunswick that is also a residence owned by the Nilis.
A follow-up request for clarification was not immediately answered.
County records don’t yet show a recent sale a lag of a week or more between a transaction and it being recorded in Freehold is not uncommon. But they do show a contract for sale filed February 20 in which the buyer is identified as Anatoly Tkach. No sale price is given.
redbankgreen was unable to locate Tkach for comment on his plans.
According to tax records, the building is 4,700 square feet in area. There’s office space on the second floor.
The building’s appreciation has tracked the soaring real estate market. According to county records, it changed hands in 1999 for $465,000 and again in 2004 for $840,000. Red Bank 116 LLC bought it two years later for $1.55 million.
According to Red Bank RiverCenter, the departure brings the total number of vacancies in the downtown district (which includes Monmouth Street and portion of the West Side) to 37. By location, the totals are:
16 on Broad Streer
8 on Monmouth Street
10 on Front Street
1 on Bridge Avenue
1 on White Street
1 on Mechanic Street
Some of the addresses included in those totals may be subject to leases that have not yet been announced.
