 The firm submitted a plan that called for a 5,000-seat venue costing $75,000 to construct.However, city founder James A. Bradley owned the block in question, then home to the aging Asbury Park Auditorium, and refused to sell the plot to the city.After Bradley's death in 1921, department store scion Arthur Steinbach purchased the Auditorium property from Bradley's estate, demolished the auditorium, and constructed the Berkeley-Carteret Hotel on the plot.