There is a major move in some parts
to covert rental slips at private marinas
to "slips for sale
This happened at my (recently) past club - Pasadena Yacht & Country Club in Gulfport, FL (near St. Pete Beach). Although a private club, the new owners decided to sell the slips and take the money
. The deal is this: after all slips are sold, the slip owners must form an association (like a condominium) and assume all the expenses of running the marina.
My 40 foot slip, currently "rented" at $11/ foot ($440 per month plus taxes
, etc) was offered to me at the "pre-public sale" price
of $148,000. The "list" price
is $160,000. There's a "rule of thimb" that says that these sell at $4,000 a foot. I could buy it for $58,000 down and a 15 year note with payments of $936 monthly PLUS $200 a month in "association fees" and, I still have to belong to the club and pay club dues and a food
and beverage minimum.
I said "Thanks, but no thanks" and moved my boat. In searching for a new marina, I found two other marinas
in the St. Pete area that are about to undergo similar conversions. Maximo Moorings and Huber's. Maximo will be converted in 18 months and Huber's is closed and new construction has already started. At Pasadena Y & CC, the marina has 88 slips. On December 31, 2004, it was full with a waiting list. 23 owners of boats currently in the marina purchased their slips. The marina now has over 40 vacancies.
My point is this. It appears that there will be fewer and fewer choices/options for anyone but the super-rich to berth a boat in some parts
. Slips in the Tampa Bay area are at a premium and this just exacerbates the situation.
I moved to Twin Dolphin in Bradenton because it is the "town" marina and will not be converting to dock-uminiums.
Anyone else been impacted by this situation?