X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

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.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. NET LEASE 2020Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.