An independent Marina Hospitality Feasibility Study evaluating a boutique marina hospitality redevelopment with floating lodging units in Catskill, New York.
CATSKILL, New York — Wert-Berater, Inc., an independent feasibility study consulting firm serving lenders and government agencies since 1998, has completed a Marina Hospitality Feasibility Study in Catskill, Greene County, New York.
Wert-Berater served as independent feasibility consultant in connection with the project’s financing. Party names are withheld consistent with the confidential nature of underwriting and capital-advisory work; figures represent the project as evaluated at the study date.
Redevelopment of an existing Hudson River waterfront marina site in Catskill, Greene County, into a professionally managed boutique hospitality operation combining upland luxury suites with purpose-built floating lodging units — an integrated, revenue-generating hospitality business rather than a passive real estate investment, intentionally positioned between high-end boutique hotels and experiential lodging. The absence of a full-service restaurant reduces operational complexity, and staffing is structured to comparable boutique benchmarks.
The floating lodging units are the competitive core: a product type scarce in the regional market and increasingly sought by experiential travelers, centrally owned and managed unlike peer-to-peer floating accommodations. The study evidenced the typology premium from a national comparable set of floating-lodging operators, supporting an ADR adjustment of $150–$250 over land-based equivalents, with phased deployment of additional floating units providing concept scalability. Eligibility screens confirmed compliance with the program’s ineligible-business rules and, where an Eligible Passive Company structure is used, conformance to the applicable operating-control and lease-term requirements.
A proposed SBA-guaranteed loan of approximately $6,991,250 — roughly 75 percent of total project cost — with the balance funded through borrower equity of approximately $2,308,750. Sources and uses were reviewed to confirm all costs relate directly to the eligible operating business, with no allocation to speculative land holding or passive investment.
The underwriting tension was typology risk against coverage cushion: a floating-lodging product with no direct local comparable had to be priced from national evidence, while early-year DSCR of 1.26x sits closer to program minimums than the stabilized 1.53x — so the ten-year DSCR analysis, marina and waterfront permitting pathway (state environmental and federal dock permitting), and phased capital deployment carried the conditions.
Wert-Berater, Inc. is an independent feasibility study consulting firm founded in 1998, providing lender- and agency-facing feasibility studies, highest-and-best-use analyses, and capital-advisory support. The firm has completed more than 4,000 engagements across all 50 states and internationally, evaluating over $40.2 billion in project value for SBA, USDA, EB-5, conventional, and institutional financing decisions. In every engagement, fiduciary duty runs to the lender and the applicable agency.
Media contact: Donald Safranek, MSc, President, Wert-Berater, Inc. — +1 310-857-2443 ext. 800. Press inquiries only; client, lender, and property identities remain confidential.
President, Wert-Berater, Inc. — independent feasibility study consultants since 1998. More than 4,000 feasibility studies completed across all 50 states and internationally, evaluating $40.2 billion in project value for SBA, USDA, EB-5, conventional, and institutional financing decisions. Fiduciary duty runs to the lender and agency in every engagement.
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Schedule a ConversationIndependent feasibility studies since 1998 — 4,000+ engagements, $40.2 billion in evaluated project value. Standard delivery in 10 to 15 business days. Fiduciary duty to the lender and agency.