South Bank at the Navesink sits atop a bluff overlooking the Navesink River. (Photos by Brian Donohue. Click to enlarge.)
By BRIAN DONOHUE
Red Bank’s high-end real estate market keeps sailing along. The latest sign of the tailwinds: a newly built ten-unit condo development on a bluff near the Monmouth Boat Club has sold 80 percent of its units, with buyers shelling out between $1.3 million and $2.6 million a piece to live in quartz-countertop luxury with wide views of the Navesink River. 
Eight of the ten units at Southbank at the Navesink have been sold since construction was completed this past spring, according to agent Deborah James. There are two, two-bedroom units, left at the 4 Boat Club Court complex: one for $2.2 million and a two-story, 3,000 square foot unit for $2.85 million.
James described several buyers as couples or individuals who had sold larger homes to retire to a maintenance free lifestyle with stunning views of the sun setting over the river. Just the closets we saw were big enough for a couple of bunk beds for visiting grandkids.
Red Bank-based developer Denholtz obtained zoning board approval for the project in April, 2019. At the 2021 ground breaking former Mayor Pasquale Menna called the half-acre bluff, which overlooks the North Shrewsbury Ice Boat & Yacht Club and the Monmouth Boat Club, a “challenging site,” that for the past 30 or so years has been “a dirty, ramshackle parking lot.” It was completed in the spring.
The completion of the project comes as Denholtz prepares to seek Planning Board and Borough Council approvals for a larger, more transformative project: the redevelopment of 13 acres of properties the company and NJ Transit own around the train station.
redbankgreen took a tour of a few of the units before running to Welsh Farms for a stack of lottery tickets. Here’s a look.
Have a news tip or story idea? redbankgreen editor Brian Donohue may be reached via email at [email protected] or by calling or texting 848-331-8331. Do you value the news coverage provided by redbankgreen? Please become a financial supporter if you haven’t already. Click here to set your own level of monthly or annual contribution.
