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Michael Bozzuto Of Bozzuto Acquires Marina In Palm Beach Shores For $25 Million
SOLD
$25,000,000
Florida
See Similar DealsMarina
Sold 08/08/2025
SOLD
Michael Bozzuto Of Bozzuto Acquires Marina In Palm Beach Shores For $25 Million
176 Lake Drive
See Similar DealsMarina
Sold 08/08/2025
Summary
FLORIDA
Asset Type:Marina
Transaction Type:Sale
Atlantic Straits Investments LLC acquired a 54-slip marina situated at 176 Lake Drive in Palm Beach Shores. The asset spans 1.51 acres and was purchased for a total of $25,000,000. The transaction excludes the adjacent 36 apartments at Havn Residences & Yacht Club, which remain under separate ownership.
Summary of transaction details:
- Property Type: Marina
- Transaction Amount: $25,000,000
- Buyer: Michael Bozzuto - Bozzuto
- Seller: Jared Frydman - JSB Capital Group
- Seller: Ryan Johnston - Johnston Group Development
- Market: Palm Beach Shores
- Acreage: 1.51
The deal was facilitated by Michael Bozzuto, representing Atlantic Straits Investments LLC. The selling parties include Jared Frydman, representing JSB Capital Group, and Ryan Johnston, representing Johnston Group Development.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,333,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$88,819.73
Cash-on-Cash Return-1.27%
Monthly Debt Service$118,512.75
Annual Debt Service$1,422,153.05
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