One°15 Brooklyn Marina Scooped Up by Private Investment Firm Radcliff Management After Bankruptcy Filing

Ride the stirring waves of investments and acquisitions as Radcliff Management, a savvy private investment firm, has just bagged the esteemed One°15 Brooklyn Marina in an eagerly contested auction. The marina, having hit the troubled waters of a Chapter 11 bankruptcy filing earlier this year, fetched an impressive price of $3.5 million, much to the glee of its stakeholders.

Joshua Olshin, a high-profile managing partner at Auction Advisors, described the new owners as seasoned players in the marina investment sector. So robust was the competition for this maritime gem that it drew the interest of over 36 established marina operators, with Radcliff Management navigating the rivalry with aplomb to secure the laurels.

Before the bidding war ensued, Radcliff Management played a skillful hand by placing a ‘stalking horse bid’, a strategically set opening offer that both set the auction baseline and provided a safety net.

Despite the marina’s financial tribulations, the auction proved to be a resounding success. The final sale price shot well past the expected baseline by over 50%, marking an exciting new chapter for this iconic New York landmark. Cherishing the practicalities of investment and the thrill of boating life, Radcliff Management’s strategic acquisition points towards a promising new horizon for the One°15 Brooklyn Marina.