The missing swimmer has been identified as 24-year-old Christian Alfred, a Miami native.
Officials say a body washed up on the beach Sunday but have not released an identity.
This comes as Coast Guard crews announced they were calling off their search for Alfred on Sunday afternoon.
According to the Coast Guard, around 7:00 p.m. Saturday, Alfred was reportedly swimming near Rio Grande Avenue when he began struggling in the water and did not resurface.
A helicopter crew, boatcrew, and the New Jersey State Police assisted in the search.
One person was rescued from the water Saturday; authorities say the rescued victim did not require medical treatment.