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New York & Tri-State  + New Jersey  + Apartments  |  July 16, 2026
Paul Bubny
By: Paul Bubny

Meridian Arranges $186M Financing for Asbury Park Condo Project

Meridian Capital Group arranged $186,000,000 in construction financing for Lido Oceanfront Residences, a new luxury condominium development located at 1201 Ocean Ave. N. in Asbury Park, NJ, 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 will deliver 112 for-sale residences ranging from one to four bedrooms, along with ground-floor retail space and an amenity program that includes a swimming pool, wellness spa, fitness center, private landscaped park, and resident lounges. The construction loan will fund the vertical development of the project.

“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 Bollag. “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.”

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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).
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