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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ABOVE BROAD STREET, A WALL STREET SHAKER

hot-topic rightTwo major newspapers take a peek today into the world of technology-driven stock trading— and its connection to a whipsaw drop and rebound in prices earlier this month — by spotlighting a little-known Red Bank firm called Tradeworx.

In “humdrum” offices above the Restoration Hardware store on Broad Street, reporter New York Times Julie Crewell writes in a front-page story, “workers in their 20s and 30s in jeans and T-shirts quietly tend high-speed computers that typically buy and sell 80 million shares a day.”

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