The city will soon have a new place where the wealthy can go to be rich together: North Cove Yacht Harbor, a "dockominium" with 26 watery parking spaces that will cost $600,000 to $2 million each.
"This is not something that people without considerable funds are going to be able to afford," observed John Gavin, former U.S. ambassador to Mexico and chairman of the company building the marina.Did we say marina?
"This is a harbor for mega-yachts, not a marina," Gavin explained in an interview Tuesday.
But with only 400 mega-yachts (those 100 feet or longer) afloat, will the harbor attract enough business to its 3.75-acre, man-made cove off the Hudson River?
"We hope to create that demand," Gavin said. "We're going into uncharted waters here."
The yacht harbor, scheduled to open in June, has these selling points: location, location and location.
North Cove is a U-shaped notch in Manhattan's Battery Park City, a community of office towers and apartment buildings that stands on landfill on the edge of the Hudson River.
The harbor is shadowed by the towers of the World Trade Center and the World Financial Center. It is a five-minute limousine ride from Wall Street. It commands a fine view of the huge Maxwell's Coffee cup sign in Hoboken, N.J.
The marina, uh, mega-yacht harbor also will offer electrical, telephone and cable television connections, fresh water, sewage collection and concierge service. "Harbors elsewhere on the East Coast charge a lot less," the Wall Street Journal has noted, "but they don't have pedicurists on call."
Until condominium plans are approved by the state, slips will be leased for seven-year periods, Gavin said. The longest, 155 feet, will cost about $620 a day, whether a vessel uses it or not, and about $1.6 million over seven years. The asking purchase price for such slips is expected to be around $2 million, Gavin said.
With the exception of Donald Trump - whose 282-foot Trump Princess wouldn't even fit into North Cove - don't the rich resent being on display?
"No," Gavin said, "they're used to it in the Mediterranean."