BALLEW BUILDING GOES FOR $1.5M

ballewThe three-story structure changed hands on July 1, records show. (Click to enlarge)

By DUSTIN RACIOPPI

The former home of Ballew Jewelers at has been sold, officially severing a relationship with Red Bank that lasted 124 years but sputtered to an anticlimactic end earlier this year.

Through an entity called LLC 36 Broad Street, Rumson resident Michael Morgan paid $1.5 million on July 1 for the three-story building at 36 Broad, according to Monmouth County property records.

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RUG MAN: HE’S LEAVING, BUT ALSO STAYING

12-broad4Get the message? But while the rug store is closing, its owner is putting down roots: he bought the building.

By WID CONROY

When a request by Nazmiyal Rug Decor for an extension on its going-out-of-business sale came up at last Monday night’s Red Bank Council meeting, the answer was unequivocal: No.

There was not one second’s worth of public discussion about the request, which would have permitted Nazmiyal to continue displaying its oversized signs in the window of its Broad Street store for another 90 days. But the message was clear. “You’re leaving? Go, already.”

“They got what they’re entitled to,” Mayor Pasquale Menna told redbankgreen afterward. He said other merchants had complained about the “subliminal message” of failure being trumpeted by the bold red-and-white signs.

“Most of our retailers are doing a very difficult job in a very difficult environment,” Menna said. “They don’t need that.”

So it may seem ironic that the store’s owner, while he’s throwing in the towel on his own business, is still a true believer in the downtown’s potential.

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