Michael Bozzuto Of Bozzuto Acquires Marina In Palm Beach Shores For $25 Million
176 Lake Drive
$25,000,000
Building Size
—
Asset Type
Marina
Closing
Aug 8, 2025
About this deal
AI
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.
On the Map
$25,000,000
Marina
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Palm Beach Shores Marina Market Snapshot
Boundary boundary · Marina · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.63%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93