Inspired by Somerset Development, one of the real estate industry’s foremost innovators in large-scale mixed-use redevelopment, today announced it has received site plan approval for a mixed-use, ultra-luxury condominium development located one block from the Asbury Park Boardwalk at 115 Fourth Avenue. Comprised of 155 residences, the property offers a Beach Club lifestyle and world-class design from NYC-based Clodagh and architecture from the award-winning New Jersey-based Minno & Wasko.
“This project represents our unwavering commitment to creating magnetic and thoughtfully designed living spaces that redefine the surrounding markets,” said Ralph Zucker, CEO of Inspired by Somerset Development. “Following unanimous site plan approval, we’re thrilled to get started on what we believe will be a transformational property not only for Asbury Park but all of New Jersey.”
Envisioned with the goal of offering a single-family lifestyle in a condominium format, Inspired is designing the 155 residences to be best in class with the top floor units to feel like “villas in the sky.” The homes include one, two and three-bedroom floorplans, each with airy, flow-through layouts. The residences exude a sense of luxury and exclusivity, with high-end finishes, expansive wrap-around balconies, and panoramic ocean views. Select units will also feature private plunge pools and 16-foot ceilings, with ground-floor residences boasting breathtaking 20-foot ceilings.
The property’s wide range of luxury amenities include a resident club room, spa, outdoor grills and fire pits, a state-of-the-art fitness center and golf simulator, courtyard, and two pools— one of which will be open year-round. Additionally, the ground floor will feature 9,340 square feet of prime retail space. Residents will also gain access to ample ground-floor storage — convenient for safe, permanent storage of bulky beach chairs, umbrellas, bikes, and more. A private three-story garage, located centrally between the two towers, will offer 264 parking spaces for residents’ use.
Conveniently located at the corner of Ocean and Fifth Avenues just steps away from the boardwalk and ocean, the eight-story development gives residents access to the vibrant culture and energy of Asbury Park. The property is next to the area’s iconic Wonder Bar and offers easy access to Asbury Park’s thriving shopping, dining, music and entertainment destinations.
“The Inspired team is so excited to enter this thriving community and work with existing businesses and residents to drive the area toward its fullest potential,” said Ken Gold, Vice President of Acquisitions and Development at Inspired by Somerset Development. “We look forward to beginning sales and sharing more details in the months to come.”
Construction is scheduled to commence in 2024.
