Join Date: Feb 2010
Location: Narragansett Bay
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Re: Financing/insurance recs for floating home in nyc?
The problem is whether you'll be permitted to liveaboard and keep it tied up in any particular marina over the long term. Unfortunately, it's a nationwide trend to restrict liveaboard access.
That means, to the bank, the collateral could become worthless, if it can't go elsewhere. The sad truth is, there is already such a limited market that it's probably not going to be worth what it costs to build.
Insurance would be a different problem, but they may also tune into the risk of not having a secure port. For them, however, it probably focuses more on how they can wrap their actuarial heads around what risk they are taking for a one-of-a-kind.
Where in NYC? Big place.
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In the harsh marine environment, something is always in need of repair. Margaritas fix everything.