The Real Deal Miami

The sale that got away

June 30, 2009 12:37PM

At the peak of the market boom, Richard Stanczyk, owner of the Bud N’ Mary’s Fishing Marina since 1978, sought an offer of $25 million for his waterfront site. Business was booming, and he bid high. In the recession, though, the waterline is now close to the surface. Boat charters for $1,000 a day have been replaced by $15 rod rentals by budget fishermen who want to fish off a bridge.