The long dormant boat slip and storage unit sales market is re-emerging after years of dismal sales. Marinas such as Sunset Harbour Yacht Club in Miami Beach, which had long slip sell lists a few years ago, now have waiting lists to buy slips. The Sun-Sentinel recently reported on the re-emergence of the market for boat slip and boat storage sales in South Florida. The Sun-Sentinel noted an uptick in sales at Soverel Harbour Marina in Palm Beach Gardens and The Bluffs Marina in Jupiter, as well as the grand opening of the Dania Beach Boat Club, south of Fort Lauderdale.
Marina owners and boat storage facility developers will likely be considering new slip and storage unit offerings. Such owners and developers should consider the options for sales programs, and issues that impact the availability and desirability of the different options. Options for slip and boat storage sales programs include:
- Deeded structures, including dockominiums or rackominiums, or subdivided land, or
- Non-deeded structures, including equity or non-equity membership programs or long-term subleases. Continue Reading