The basics:

• Lido Asbury Park secures $211M construction financing
• 112-unit luxury condominium project from Inspired by Somerset Development underway in Monmouth
• North Tower rising — project completion expected in 2028
• Condos start at $1.035M, select residences priced above $8M

Inspired by Somerset Development has secured $211 million in construction financing for its ultra-luxury condominium living experience rising along the Asbury Park shoreline.

The real estate firm announced the total funding from Madison Realty Capital and Cottownwood Group for Lido Asbury Park July 20. Last week, Meridian Capital Group disclosed arranging a loan for $186 million from the lenders for the eight-story development rising at 1201 Ocean Ave. in the Monmouth County hotspot.

The infusion comes amid considerable construction progress at the Jersey Shore. The project also continues to set benchmarks for pricing and perks in an area with unmet demand for high-end condo residences.

And, it follows a $60 million bridge loan secured last week for another Inspired by Somerset Development project in the county, Bell Works Fort Monmouth.

Lido Asbury Park broke ground to close out 2025. Now, the project has completed structural groundwork and the North Tower has begun its vertical ascent. Delivery is expected in 2028. Before construction started, the property set a sales record when one of its still unbuilt penthouses sold for $7.6 million.

The project will deliver 112 condominium residences.

A new kind of coastal living

“What we’re building at LIDO isn’t just a response to what the market was asking for. It’s a reimagining of what coastal living in New Jersey can be,” commented Ralph Zucker, CEO and president of Inspired by Somerset Development. “Asbury Park has an extraordinary spirit and a deep connection to the sea, and LIDO was designed to honor that while elevating it, creating a place where world-class design, genuine wellness and the best of seaside life can coexist effortlessly.”

Madison Realty Capital co-founder and Managing Principal Josh Zegen noted the nexus of attributes in Asbury Park. “Few sites on the Jersey Shore offer the combination of location, product quality and market demand that LIDO offers,” Zegen said. He added that early sales underscore the quality of the asset as well as the market.

Realtor.com categorizes Monmouth County as a “hot market.” Homes sell in a median of 37 days, according to June 2026 figures. In April, Inspired by Somerset Development cut the ribbon on another condo project, The Inkwell in Long Branch.

Both projects speak to surging area demand as development continues along the Jersey Shore.

Lido Asbury Park features interiors by Clodagh Design, architecture by Minno & Wasko Architects and Planners and landscape design by Melillo Bauer Carman. Residences range from one-to-four bedrooms spanning 970 square feet to more than 3,800 square feet.

Buyers aren’t just coming for the shore anymore. They want to live here year-round.
— Jodi Stasse, senior managing director, Corcoran Sunshine Marketing Group

Pricing for Lido Asbury Park starts at $1.035 million, with select residences priced over $8 million. Corcoran Sunshine Marketing Group exclusively leads sales and marketing for the building.

“I’ve watched Asbury Park evolve from a destination people rediscovered on summer weekends into one of the most sought-after residential destinations on the Jersey Shore,” said Corcoran Sunshine Senior Managing Director Jodi Stasse. “Buyers aren’t just coming for the shore anymore. They want to live here year-round, and LIDO is the first offering that truly delivers on that promise.”