Toll Brothers has opened its sales center at 400 Cookman Avenue and commenced presales for 400 Lake at Asbury Park, a 38-unit waterfront townhome community in New Jersey. The development features four distinct homeplans ranging from 1,625 to over 2,108 square feet, with 2 to 4 bedrooms, 2.5 to 3.5 bathrooms and 1- to 2-car garages. Each 3- and 4-story townhome offers rooftop terraces with partial ocean and Wesley Lake views, open-plan living areas and designer-appointed kitchens. Units are priced from $1.19 million, and a limited number of move-in ready homes will be available this spring. The community’s proximity—just three blocks from the Asbury Park Boardwalk, world-class music venues and a growing dining scene—underscores Toll Brothers’ strategy of blending luxury product with lifestyle destinations.

This launch represents Toll Brothers’ continued expansion in high-barrier coastal markets, following recognition as the #1 Most Admired Home Builder in Fortune’s 2026 ranking. At a starting price above $1.1 million, 400 Lake at Asbury Park is expected to contribute approximately $50 million in contract value at full sell-out, bolstering the company’s luxury segment margins by an estimated 150 basis points over its multi-family average. With interest rates remaining stable and buyer appetite strong for turnkey coastal residences, Toll Brothers anticipates absorption of two to three homes per month. Investors should note that this development, alongside recent Las Vegas and Atlanta product launches, diversifies Toll’s geographic mix and reinforces its four-pillar model of homebuilding, mortgage, land development and component manufacturing to sustain 2026 revenue guidance.