The Rail at Asbury Park will be a 125-unit Class-A multifamily development located in the heart of downtown Asbury Park, NJ. The project is situated across from the Asbury Park Train Station, providing access to major employment hubs in Monmouth County and direct access to Manhattan in approximately 90 minutes. The Rail at Asbury Park will be 80% market rate, with an affordable obligation on the remaining 20% of units, and will benefit from a 30-year PILOT Program (Payment in Lieu of Taxes), mitigating tax assessment risk and creating substantial savings in operating expenses.

The Rail at Asbury Park will feature best-in-class luxury finishes and a generous amenity package. The 125 luxury rental units will offer a mix of one- and two-bedroom options, with additional home office space and outdoor balconies/terraces in select units.

Construction is expected to commence in Q2 2024 and is anticipated to take 20 months to complete.