Boating Industry Intelligence You Can Profit From
JERSEY CITY, N.J. – Island Global Yachting recently announced “significant” mega yacht expansion plans for the Newport Yacht Club & Marina. According to the group, the expansion will substantially increase the number of berths available to mega yachts (vessels over 80 feet).
“Newport Yacht Club and Marina has been a valuable addition to the IGY network of marinas, and we’ve determined that there is a large unmet demand for quality berthing in close proximity to New York City. The Newport Yacht Club and Marina expansion will allow more people to visit the marina and enjoy all that it has to offer and its convenient access to New York City. The capital investment at this time is a signal of our confidence in the property, as well as the northeastern U.S. boating market,” Eric Simonton, Director of Development and Asset Management for IGY, said in the release.
Construction is scheduled to be completed in Q4 2011 and current customers of the marina will not be affected.
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