RCI Group sells River Cove Marina in Miami for $11M

72-slip marina has wet slips and boat lifts

Miami /
Mar.March 10, 2021 05:30 PM
2000 Northwest North River Drive (Google Maps)

2000 Northwest North River Drive (Google Maps)

Real estate and marina developer and owner RCI Group sold a marina on the Miami River for $11 million.

Records show RCI Group affiliate 2000 Miami River Marina sold the 72-slip River Cove Marina to Cove Marina Holding, a Delaware entity.

Built in 2009, the marina spans 4 acres and includes a 2,778-square-foot structure for a dockmaster station as well as facilities for boat owners.

Its boat lifts can accommodate up to 45-foot-long boats, weighing a maximum of 28,000 pounds, according to its website. Its wet slips allow for 40-foot-long to 60-foot long boats.

RCI Group founder Robert Christoph Sr.

RCI Group founder Robert Christoph Sr.

Bridgeport, Connecticut-based RCI Group, led by founder Robert Christoph Sr., has acquired and developed 11,608 multifamily units, 1.9 million square feet of retail, 911 marina slips, and office and self-storage property, according to its website.

The Miami River District is undergoing redevelopment and revival. The $425 million River Landing Shops & Residences opened in September at 1480 Northwest North River Drive as the biggest recently completed project along the river. The 2.2-million-square-foot development across 8 acres has 345,000 square feet of retail, 528 apartments, more than 2,000 parking space, and 135,000 square feet of offices.

Another two South Florida marinas sold recently and are slated for redevelopment as multifamily. The Partridge Equity Group, whose principal is Christopher Partridge, bought Pennell’s Marina and Freedom Marina in Deerfield Beach for $18.1 million in December. Pennell’s, at 418 Northeast River Drive, will be developed with apartments, while Freedom Marina, at 790 Northwest 1st Avenue, will house both marinas’ boats and also will include a new dry slip building.

Baldridge Properties of Naples in February of last year bought a Pompano Beach marina at 651 South Federal Highway for $6 million.






    Related Articles

    arrow_forward_ios
    A unit in Continuum South Beach was the top sale last week (Luxhunters for ONE Sotheby’s International Realty)
    Tech entrepreneur’s purchase of Continuum unit leads Miami-Dade weekly condo sales
    Tech entrepreneur’s purchase of Continuum unit leads Miami-Dade weekly condo sales
    Alex Rodriguez and Constantine Scurtis at far right (Getty)
    A-Rod gets 13 lawsuits dismissed that were filed by ex-brother-in-law over real estate empire
    A-Rod gets 13 lawsuits dismissed that were filed by ex-brother-in-law over real estate empire
    830 Brickell and the co-developers Cain's Jonathan Goldstein and Vlad Doronin (Getty, OKO Group / Cain International)
    Lease roundup: Canada’s CI Financial picks Brickell for new US HQ
    Lease roundup: Canada’s CI Financial picks Brickell for new US HQ
    Ares Management co-founders Michael Aroughet and Antony Ressler with David Beckham and a rendering of the project (Getty, Freedom Park)
    Ares Management makes $150M play for David Beckham’s Miami soccer venture
    Ares Management makes $150M play for David Beckham’s Miami soccer venture
    Nuveen Real Estate CEO Mike Sales and LaVida apartments (Eileen Escarda)
    Nuveen pays $98M for Blue Lagoon apartment complex in Miami
    Nuveen pays $98M for Blue Lagoon apartment complex in Miami
    A unit at Turnberry Ocean Club was the most expensive condo sold last week (Turnberry Ocean Club)
    $11M closing at Turnberry Ocean Club leads weekly condo sales in Miami-Dade
    $11M closing at Turnberry Ocean Club leads weekly condo sales in Miami-Dade
    10660 Southwest 40th Street (Google Maps)
    Tate Capital sells CVS Pharmacy y más location near Kendall for $16M
    Tate Capital sells CVS Pharmacy y más location near Kendall for $16M
    ARI Financial Group CEO buys Hialeah multifamily-retail portfolio for $42M
    ARI Financial Group CEO buys Hialeah multifamily-retail portfolio for $42M
    ARI Financial Group CEO buys Hialeah multifamily-retail portfolio for $42M
    arrow_forward_ios

    The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

    Loading...