Big Slips

The rising demand for big slips has spurred a marina-building boom around the world.

“We generally fill up in October and stay full through April or May. They have to call months ahead to get a spot.” —Dave Culver, Sunrise Harbor, Fort Lauderdale, Florida

“These boats come not just from Florida¬† but from all over the world. The Bahamas is competing for megayachts with Florida and also Costa Rica, Belize, and the Dominican Republic.” —Sheldon Greene, Ginn Sur Mer, West End, the Bahamas

Watson Island, in Miami’s glittering Biscayne Bay, may be one of the most beautiful spots left for development in South Florida. It’s almost literally in the shadow of Miami’s downtown, and just as important it has frontage on Government Cut, the deepwater channel that serves the city’s cruise ship docks. If Turkish developer Mehmet Bayraktar has his way, within a few years Watson Island will make Miami an international destination for the largest private yachts afloat.

¬†“I envisioned the Mediterranean destinations I’ve visited for many years—places like Monaco, St. Tropez, and St. Bart’s,” says Bayraktar, describing his thinking when he heard that Miami was soliciting bids for a new development on Watson Island. Bayraktar’s planned Island Gardens development will cater not only to megayacht owners but also to the general public. He’s planning a 50-slip marina capable of handling boats up to 465 feet long along with a hotel, retail shops, restaurants, and an open-air park. “You can come here for a cup of coffee, you can have your $50-million yacht berthed here for three months or a year, you can sleep in a hotel, and you can have your corporate event here,” says Bayraktar. He adds that there are currently several thousand yachts 100-feet or longer afloat around the world, and marinas have not been able to keep up with the steadily rising demand for slip space.¬†

Take a moment to pity the megayacht owner. After shelling out tens of millions of dollars for a 200 or 300 or 400-foot boat, he or she then must find a place to park it. The problem is particularly acute in south Florida—a boat-rich area stretching from Palm Beach through Fort Lauderdale and Miami down to Key West. The Marine Industries Association of South Florida estimates that more than 1,400 megayachts visit ports in the area each year, and there simply aren’t enough places for them all to dock.

Dave Culver, who manages the marina at the new Sunrise Harbor development on the Intracoastal Waterway in Fort Lauderdale, reports that slips there can accommodate boats up to 200 feet long. But he emphasizes that megayacht owners shouldn’t expect to get space on short notice. “We generally fill up in October and stay full through April or May. They have to call months ahead to get a spot.”

If you want to know what getting a boat slip means in dollars and cents, talk to Ginger Hornaday, a real estate broker in Fort Lauderdale who specializes in boat slips and recently sold a 195-foot slip in Key West for just under $2 million. Hornaday is currently selling space at Westrec’s Errol Flynn Marina—a 32-slip complex on Jamaica’s northeast coast that can handle vessels up to 350 feet. She notes that the four-year-old development has been a labor of love for the town of Port Antonio. “It’s in a great location on the travel route to Central America and the Cayman Islands,” she points out. “Last year we hosted 63 yachts taking part in the Clipper Round the World Race.”

Closer to the United States, some marinas in the Bahamas already offer some new world-class megayacht facilities with a dozen more big projects in the works. Real estate broker Sheldon Greene is helping market one of the most opulent, Ginn Sur Mer in West End, a $5-billion development with a casino, private airport, and a megayacht marina. “These boats come not just from Florida but from all over the world. The Bahamas is competing for megayachts with Florida and also Costa Rica, Belize, and the Dominican Republic,” he explains. All of which suggests that for American magayacht owners, parking may lay offshore in the turquoise-blue Caribbean—it could be worse! —Greg Allen

Where the Boats Are:

If you’re looking for a spot to park your floating home—or just want to see some of the biggest private yachts afloat—check out these Caribbean hot spots.

Antigua—Falmouth Harbour Marina has 60 berths for yachts up to 330 feet long with shops and restaurants nearby; antigua_marina.com.

Aruba—Renaissance Marina, part of a casino-resort complex in the capital of Oranjestad, has 64 slips for yachts up to 200 feet long; renaissancemarina.com.

The Bahamas—Grand Bahama Yacht Club and Port Lucaya Marina, two related full-service marinas in Freeport have 150 slips for yachts up to 175 feet long (Grand Bahama Yacht Club) and 106 slips for yachts up to 170 feet long (Port Lucaya Marina); grandbahamayachtclub.com and portlucaya.com.

The Bahamas—Abaco Beach Resort Boat Harbor, which is currently the country’s largest marina, is part of a resort complex in Marsh Harbor on Great Abaco Island and has 190 slips for yachts up to 200 feet long; abacobeachresort.com.

Dominican Republic—Casa de Campo in La Romana recently expanded its marina and now has 350 slips for yachts up to 250 feet long;marinacasadecampo.com.

Jamaica—Errol Flynn Marina, a facility in San Antonio that was recently renamed for the Hollywood star who sailed his boat into the harbor and decided to make his home here, has 32 slips for yachts up to 350 feet long; errolflynnmarina.com.

St. Maarten—the Yacht Club at Port de Plaisance, the Yacht Club at Isle de Sol, and Dock Maarten (still under construction) all have slips for megayachts, including ones at Isle de Sol for¬† yachts up to 450 feet long; princessportdeplaisance.com, yachtclubisledesol.com, and dockmaarten.com.