- Afraid that their marinas will shut back down if COVID-19 cases continue to spike, the ultrawealthy are snapping up waterfront mansions just so they have a place to store their yachts.
- One Miami-based broker told Business Insider that he had sold two homes in recent months to buyers more concerned with their yachts than the homes themselves.
- Yacht sales spiked early in the pandemic as the ultrawealthy looked for outdoor, socially distanced entertainment.
- As the pandemic wears on, community-based amenities common in luxury condos — like shared pools and gyms — have lost their appeal to high-end buyers.
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While many Americans were busy hunting down bikes during coronavirus lockdowns earlier this year, the ultrawealthy were shopping for yachts.
Now, they need a place to park them.
Marinas are both costly and subject to local shelter-in-place orders, meaning that in the case of another