March 20, 2019 Comments Off on Key West MXU Marina Snagged for $40M Views: 726 Florida, National News, South Florida, Southeast

Key West MXU Marina Snagged for $40M

Key West Harbour, a 13.1-acre mixed-use, luxury wet / dry slip marina facility in Key West, FL, has been sold by iStar Inc. for $39.5 million. The buyer was undisclosed.

Known as America’s Southernmost Marina, the property at 6000 Peninsular Ave. is located on Stock Island, a transformative tourist enclave in Key West. Completed in 2008, the asset features 99 wet slips, 375 indoor dry racks, 13 outdoor dry racks, and six workforce and market rental apartment units. The Class A hurricane rated marina also offers several amenities including a clubhouse featuring a full-service restaurant and pool, event space for weddings, and a private beach.

Avison Young’s George Vail, who represented the seller, says, “Key West Harbour is a rare high-quality asset that offers strong in-place cash flow and potential for rent increases and redevelopment opportunities.”

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