A South Florida investment group has purchased the St. Augustine Shipyards, and with the change in ownership comes newly refined plans for its future development.
The majority of the 50-acre property was sold to the Robert Finvarb Co., a privately held company, for $27 million on Nov. 8, according to St. Johns County property sales records.
The South Florida investment company that bought the St. Augustine Shipyard plans to add dry boat storage, restaurants and a hotel.
Windward Shipyard LLC and Windward Shipyard Land Holdings LLC, of Aventura, bought the property Nov. 8 for $27 million. The sellers were St. Augustine Shipyard LLC, St. Augustine Shipyard Property Co., Greenwood Property LLC, All Seasons LLC and Linda M. Luhrs.