ONE°15 Brooklyn Marina is set to be auctioned on 4 December following its bankruptcy filing earlier this year. Located at Pier 5 in Brooklyn Bridge Park, New York City and spanning 7.5 acres, the marina features over 100 berths and the ability to accommodate vessels up to 91 metres.

With an asking price of $2.4 million, the auction represents a rare chance for a marina operator to acquire an urban marina in the city that never sleeps. The property is leased with modern infrastructure, though specific lease terms have not been disclosed.

ONE°15 Brooklyn Marina filed for Chapter 11 bankruptcy protection on 26 September this year, along with associated entities such as ONE Edge Marina Finance Company, ONE°15 Restaurant (operating as Estuary), and ONE°15 Brooklyn Sail Club.

Judge Elizabeth S. Stong is overseeing the case, with a reorganisation plan and disclosure statement due by January 24, 2025.

The bankruptcy process allows the marina to continue operations while addressing financial challenges under court supervision. This process is designed to help the marina address its financial challenges and potentially emerge as a more stable business.

For prospective buyers, this creates an opportunity to acquire a functioning and strategically located asset as part of the restructuring process, potentially at a competitive price and a chance to capitalise on its future recovery and growth.

As the demand for berths continues to rise, particularly in urban and culturally significant hubs like New York City, the auction is likely to attract attention from giant maritime corporations and marina operators seeking to expand their presence in the region.

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