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New York & Tri-State  + New Jersey  + Finance  | 

Jersey Shore Condo Project Closes on $250M Capital Structure

390 Ocean Owner LLC has closed on a capital structure exceeding $250 million for The Atlantic Club, a new oceanfront luxury residential condominium development in Long Branch, NJ. The financing from Madison Realty Capital and Unity Capital was arranged by Iron Hound Management Company.

The Atlantic Club is expected to welcome residents at the end of 2026. Located at 390 Ocean Ave., the dual-tower condo project will deliver 132 one-to-five-bedroom homes, including six penthouses and more than 75,000 square feet of indoor and outdoor amenities. Owners from Stillman Development International, LLC, Surrey Equities and Gotham City Real Estate form the ownership team of 390 Ocean Owner LLC.

“The closing of this capital structure represents a deep validation of the vision, artistic merit and execution capabilities of the development team,” said Roy Stillman, president of Stillman Development International. “There is an untapped demand for a world-class condominium experience here on the Jersey Shore and the project’s sales velocity bears this out.”

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Development
  • ◦Financing
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