ASBURY PARK, N.J., July 16, 2026 /PRNewswire/ — Meridian Capital Group, one of the nation’s leading commercial real estate advisory firms, arranged $186,000,000 in construction financing for Lido Oceanfront Residences, a new luxury condominium development located at 1201 Ocean Avenue North in Asbury Park, New Jersey, on behalf of Inspired by Somerset Development. The loan was provided by Madison Realty Capital and was arranged by Meridian’s David Bollag and James Darling.
Lido Oceanfront Residences is a ground-up development rising on one of the final remaining parcels along Asbury Park’s beachfront promenade. The property will deliver 112 for-sale residences ranging from one to four bedrooms, along with ground-floor retail space and an extensive amenity program that includes a swimming pool, wellness spa, fitness center, private landscaped park, and resident lounges. Designed by Minno & Wasko Architects and Planners with interiors by Clodagh Design, the building offers ocean views and direct access to the Asbury Park waterfront and boardwalk.
The construction loan will fund the vertical development of the project, supporting one of the most significant new residential developments underway along the Jersey Shore.
“Ralph Zucker and the team at Inspired by Somerset are among the most visionary developers in the region, and it was a privilege to arrange the financing for a project of this caliber,” said David Bollag, Managing Director at Meridian Capital Group. “Our team moved quickly and worked through every detail of a complex, ground-up construction request to structure and close the loan on the timeline the sponsor needed. This is the kind of execution Meridian is known for.”
About Meridian Capital Group
Meridian Capital Group is one of the nation’s leading commercial real estate advisory firms. Headquartered in New York, Meridian negotiates debt, equity, sales and retail leasing on behalf of its clients.
SOURCE Meridian Capital Group LLC