Ralph Zucker Secures $186 Million Construction Loan For Condo At 1201 Ocean Avenue In Asbury Park

1201 Ocean Avenue

$186,000,000

Building Size

—

Asset Type

Condo

Closing

Jul 15, 2026

AI

The asset involved in this transaction is a condo located at 1201 Ocean Avenue in Asbury Park, NJ. The loan amount for the construction is $186,000,000, which is provided by Madison Realty Capital.

Summary of transaction details:

Property Type: Condo
Transaction Amount: $186,000,000
Lender: Madison Realty Capital
Sponsor: Ralph Zucker - Inspired by Somerset Development
Broker Representatives: David Bollag & James Darling - Meridian Capital Group
Loan Type: Construction

Ralph Zucker, representing Inspired by Somerset Development, is the sponsor of the project, while the brokerage services were provided by David Bollag and James Darling from Meridian Capital Group, who facilitated the loan transaction.

Players