Old Port Cove Marina, other marinas in North Palm, Riviera fetch $61M

March 02, 2018

The Old Port Cove Marina, North Palm Beach Marina and New Port Cove Marine Center have a new owner. Safe Harbor Marinas of Dallas paid $60.7 million for the properties in North Palm Beach and Riviera Beach, according to property records.

Safe Harbor Marinas announced the deal in January, but the price tag didn’t become public until Thursday.

The three marinas can hold nearly 650 vessels ranging from 20 footers to 200-foot mega-yachts, Safe Harbor Marinas said. The sale includes the 48,000-square-foot Cove Plaza and the waterfront Sandpiper's Cove Restaurant and Bar at Old Port Cove Marina.

The properties last sold in 1989 for just $8 million.