Marina Sales Price Reaches High-Water Mark

PALM BEACH SHORES, FL-E.D. Holdings of Del Mar, CA is buying the the Sailfish Marina and Resort on Palm Beach County’s Singer Island for about $17 million, a lofty price, according to area industry brokers.

The seller is a group headed by Alex Dreyfoos, which acquired Bill’s Marina and the neighboring Sailfish Center in 1977 and began operating the two businesses as Sailfish Marina.

The complex, renovated last year, comprises a restaurant, 28 guest quarters, a store, conference center and three docks that can accommodate up to 100 boats.

The high purchase price is partially attributed to the state’s unofficial moratorium on issuing construction permits for new marinas. Lawsuits involving manatee deaths is slowing down the permit process, according to industry sources. Save-the-manatee groups argue excessive boating in Florida waters is causing more collisions with the slow-moving manatees.