It’s a piece of real estate with no bedrooms, no baths, no roof, no walls, and not even a square foot of grassy earth. And not only do you want it, it’s actually a great investment.
It’s a “dockominium” on storied Newport Harbor, one of the sailing capitals of the world, where slips lease for thousands of dollars per linear feet of boat—if you are fortunate enough to get off the waiting list.
It’s an annual spring ritual: assuming your boat is too large to trailer home and park in your driveway, you are stuck wondering where you’re going to put it for the summer. Moorings are great, but also at a premium. And there’s something about having your own slip that makes it that much more easy to stock, maintain, and enjoy your boat.
The purchase of a dockominuim secures your space on Newport Harbor forever. There are two different spots where you can buy a dockominium: Lee’s Wharf Marina and Newport Onshore Marina. In the last five years, both associations have completely renovated all their docks.
In Rhode Island, Dockominiums are treated and transferred just like a standard condominium. They are deeded, taxed, and association fees apply—but in the low-six figures to start, there may be no more affordable way to own a piece of Newport Harbor.
- Hogan & Stone
- Matt Hadfield