One of downtown Red Bank’s most visible buildings has changed hands.

The seven-story office-and-retail structure at 21 East Front Street sold for $7 million, according to a March 23 deed filed 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 bills go to an address in Weston, Massachusetts.

The seller paid $6.83 million in 2008 for the property, which features a see-thru first floor that once served as a public walkway.

The ground floor store is currently vacant. Last July, Colts Neck resident Carmine Berardi obtained the zoning board approval for a luxury car rental club called Bespoké Exotic Motor Club & Rentals to use the space.

The status of that business, which has not yet opened, could not immediately be determined.

In early 2019, Berardi obtained approval to open a sub shop in the space but didn’t do so.

(Photo by John T. Ward. Click to enlarge.)

If you value the news coverage provided by redbankgreen, please become a financial supporter for as little as $1 per month. Click here to set your own level of monthly or annual contribution.