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Conference unifix::sailing

Title:	SAILING
Notice:	Please read Note 2.* before participating in this conference
Moderator:	UNIFIX::BERENS

Created:	Wed Jul 01 1992
Last Modified:	Mon Jun 02 1997
Last Successful Update:	Fri Jun 06 1997
Number of topics:	2299
Total number of notes:	20724

820.0. "Boat slips: what's the future?" by PETE::BURGESS () Thu Apr 28 1988 16:13

I suspect that a treasure has been dropped in my lap
but I am concerned about the implications...

I have a P+S for a moderately priced waterfront condo
and 35 foot boat slip--a new project on Badgers Island
in Kittery, Maine.  (The actual state of the boat slip is that
the reconstruction plans have been approved by the
municipality.  Plans were drawn up by Appledore to install 
same type of docks as they designed for the Wentworth project.)

I received these boat slip comps from the developer.  (what
    has happened to this sport?)


Location		Condition	Annual maintenaince	Ave Cost
    					reserves, taxes
----------------------------------------------------------------------    	
Atlantic Harbors	Wood/average	$14/lf			$1650+/lf (cur)
Eliot, Maine

Heron Way Marina	teak,alum/excel	$20/lf			$1560/lf
Gloucester, Ma

Flying Bridger Marina	wood/good	$32/lf			$1960/lf
Falmouth, Ma

Oyster Harbors Yacht	wood/ave	$25/lf			$3127/lf
Oysterville, Ma


I have heard that the boating boom has exceeded the existing
slip and mooring space, that prices are skyrocketing, that
SOUNDINGS publication reported that the supply is just about
exhausted - that within the last few years savvy domestic
and foreign investors have scooped up available existing marinas and
available waterfrontage for new marinas, that the new owners
of Wentworth have reversed the previous decision to sell ownership/
long-term leases for ~$2250/ft and to keep the slips while the
slips appreciate wildly.


    I learned to sail Turnabouts out of Jubilee Yacht Club
    in Beverly, Ma.  For ~$15/year I was a jr. member which entitled
    me to place my mooring in a convenient spot, to use the club dingy
    to row out to my boat, and to race on Saturday and Sunday. 
    This club was founded in the 19th century by a renagade
    from the Marblehead club scene who wanted to open up 
    sailing to more people than just the Gold Coast bluebloods.  

I'm having trouble relating to this crazied, high-flying market.  What's
fact and what's speculative hype?  What do NE sailors sense
is going to happen in the near term and the longer term about
having access to boating?  And from the other side of my mouth-
    what's the going to happen to the value of my boat slip? 
    
    

Pete Burgess

T.R	Title	User	Personal Name	Date	Lines
820.1	Is sailing only for a select few?	TLE::PEARL	Larry Pearl (TLE::PEARL) DTN: 381-2254	`Fri Apr 29 1988 13:57`	24
	Pete, I too learned to sail in Turnabouts at another "high-class" club - just up the channel from you - the Salem Willows Yacht club. Prices and services were similar although I think our clubhouse was even more Spartan. Having only owned small sailboats (including our current Compac 16 - which we keep at Fernald's on the Parker River in Newbury, MA) your note reminds me to think twice about the always present thought of "trading up" and all the costs associated therewith. Having been around (very) small boats for a long time my motto has been: "the pleasure one gets from his/her boat is not proportional to its length" I've seen many friends find this out the hard way and eventually leave the sport. After all, we do call it "pleasure boating", dont' we? Isn't that why we all do it? Larry
820.2	It's cheaper in New England!	HYEND::RSCHLESS		`Thu May 12 1988 15:58`	11
	I was pleasantly surprised when I started looking into a slip or mooring for my 25' I'm in the process of moving here... Southern N. England seems to have lots of romm for moorings in secluded bays that aren't expensive at all. I've set one up outside of N Bedford for the cost of the mooring ($500) and no summer charge. The equivalent on the Great Lakes would have been at least $800 - $1000 per summer. Beau
820.3	Badger Is, Maine: boat slip and condo combo	PETE::BURGESS		`Tue May 31 1988 16:28`	34
	For those who want to live by their boat... A friend, Bill Swartzbaugh (617-388-2850), is converting a waterfront building to condominiums and has received municipal permits for constructing 10 boat slips on the Back Channel. Appledore architects designed the docks at the Wentworth facility and the same type of construction is planned here. The inner slips might be safe from ice for winter mooring. There are three waterfront condos available, each with an optional deeded boat slip. Pre-construction condo prices (before July 1) unit 3 - $88k for 1 bedroom studio unit 4 - $147k for 2 bedroom unit unit 6 - $194k for 2 bedroom townhouse Slip # boat size appraised $ 20% discount prior to July 1 2 26 ft $41,600 $33,280 4 36 $57,600 $46,080 6 36 $57,600 $46,080 9 50 $80,000 $60,000 Bill is NOT selling the slips separately, but the condo units are an attractive investment in an area which undergoing dramatic changes in valuations. Kittery is providing incentives to developers and homeowners to improve the area. Some significant investments are being planned- marinas, resteraunts, etc. Pete Burgess Dtn: (617-486) 226-5315
820.4	boat slip and cond combo addendum	PETE::BURGESS		`Wed Jun 01 1988 12:27`	6
	Corrections to .3 1. The docks at Wentworth were designed by Waterfront Design not Appledore. 2. Bill's tel# is 617-388-2580 (transposed numbers)
820.5	What are they worth now ?	BOMBE::ALLA		`Mon Jun 24 1991 17:41`	5
	Now that 3 years have passed since the first note on boat slip condos, how does the market look in 1991 ? Did the slips hold value ? I see many slips unfilled and more than a few developers going belly-up this year.
820.6		NOVA::EASTLAND		`Tue Jun 25 1991 16:00`	6
	We got a deal this year. Our 36 footer "Cap Aux Isles" was laid up at Port Marine, Marginal st, East Boston to be close to the yacht broker (although it didn't sell anyway). Port Marine folded and we landed a slip for $1300 from the landlord who used to rent to Port Marine.