In spite of the soaring mortgage costs and global interest rates, the superyacht industry and Palm Beach property market are prospering. The Town’s Marina plays a significant role in this upswing.
Palm Beach, a highly desirable and prestigious community in South Florida, boasts some of the most coveted real estate in the nation. This includes luxurious waterfront mansions, trendy condominiums, and the exclusive Town of Palm Beach Marina, the sole facility for superyachts. The Marina, renowned for its excellence, perfectly aligns with the town’s revered and iconic real estate options.
The Marina is the perfect blend of luxury and nautical adventure. “Following its $40 million transformation last year, the Marina has been a huge success. The high demand for our slips is a testament to the allure of Palm Beach,” said Carolyn Stone, Deputy Town of Palm Beach Manager.
Conveniently located minutes from the Intracoastal Waterway and the Atlantic Ocean, the facility is an ideal destination for boaters seeking a tropical escape and easy accessibility.
The average real estate sales price in Palm Beach has increased by 25% in the fourth quarter of 2022, reaching almost $13 million. “Palm Beach appears unaffected by the vagaries of the market,” says Mike Horn, Town of Palm Beach Marina Manager.
“With an increase in the number of people relocating and vacationing in Palm Beach, there is a growing demand for a place to dock their yachts, and our paradisiac facility is equipped to cater to the needs of modern-day boaters.”
Indeed, the Marina is more than just a place to berth. It’s a gateway to the upscale and sophisticated lifestyle that Palm Beach is known for. Slip holders have front-row access to the island’s pristine beaches, rich cultural history, fashionable shopping and nouvelle cuisine. In addition, Marina patrons can enjoy complimentary recreational facilities including the renovated Mandel Recreation Center, the oceanfront Par 3 golf course and 13 premier tennis courts.
The Marina accommodates vessels up to 295 feet and includes state-of-the-art amenities such as concrete floating docks, high-speed WiFi, expanded shore power and upgraded security. Today’s competitive market is reflected in the limited slips and availability at the Town Marina. “Despite having a waitlist for annual slips, there are still opportunities for transient and seasonal stays for boaters interested in a slice of private paradise,” adds Stone.
Slip holders can also expect an unparalleled boating experience, complete with personalized white-glove attention, specialized cart and porter services, and much more.
The Marina offers a truly elevated boating experience that is the perfect complement to Palm Beach’s world-renowned real estate market. Located in one of the most exclusive destinations for both homebuyers and visitors alike, the Town of Palm Beach Marina has become synonymous with luxury living with superyacht slips becoming prime real estate hotspots.
