Nicolas Guilhot of Lyon, France was swimming with friends off Island Beach State Park late Friday morning when he began to struggle and slipped under the waves.
On Saturday morning, a fisherman found a body not far from where the 25-year-old Guilhot was last seen. That came several hours after the Coast Guard had suspended its extensive search.
A spokesman for the state's Environmental Protection Department told the Asbury Park Press on Sunday that authorities had confirmed the body was Guilhot.
A cause of death has not been disclosed.
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Information from: Asbury Park (N.J.) Press