At $3,571 per square foot, this floating pad doesn’t come cheap
Arr, this is expensive!
This week, a floating pirate ship hit the real estate market in the Bay Area. The 56-square-foot boat in Richmond, Calif. has a pricetag of $200,000. That shakes out to more than $3,500 per square foot, though to be fair, the mortgage payments could shake out to less than $1,000 a month.
— Estately (@estately) July 26, 2017
The pirate ship boat is being pitched to buyers as an alternative to pricey Bay Area real estate.
“Housing prices have got so expensive,” the listing reads. “Dockside living can be less expensive than traditional housing.”
Just don’t expect modern finishes. Photos show the ship, which was built in 1983, has a beige striped built-in couch and dark wood paneling throughout. The interior is lit by small porthole-like windows.
Plus, the boat doesn’t have a motor: “The motor of this boat has been removed to make this a ‘floating home,” the listing notes. “This floating home can move to a dock of your choice with the help of tug boat.”
This comes at a time when Bay Area real estate is hitting record highs. In the past five years, home prices in Richmond have more than doubled to roughly $450,000, according to Zillow. And that’s nothing compared to what’s going on in San Francisco proper, where the median home is now more than $1.2 million.
As the listing notes, “floating home communities are popping up all over The SF Bay Area as a cheaper choice to traditional housing cost.” For example, EastBayModern, a residential real estate company, notes that it sells floating homes in several spots in the East Bay. Floating home communities are also popping up in pricey real estate markets like New York City.
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