Ralph Zucker’s luxury condo development in Asbury Park snags $186M loan
The developer behind the iconic Bell Works revitalization in Chicago secured a massive construction loan for a banner condo project on the Jersey Shore. Zucker’s Inspired by Somerset Development snagged a $186 million loan from Madison Realty Capital for the development located at 1201 Ocean Avenue North in Asbury Park, New Jersey. Meridian Capital Group’s David Bollag and James Darling arranged the financing for Zucker’s Inspired by Somerset Development, the real estate advisory firm announced Wednesday. The construction loan will fund the vertical development of the project. Lido Asbury Park, a rising on Asbury Park’s beachfront promenade, previously claimed a […]
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