Home Boating & Fishing Traders Cove Marina Was Profitable in 2015, Brick Officials Say

Traders Cove Marina Was Profitable in 2015, Brick Officials Say

Traders Cove Marina and Park. (Photo: Daniel Nee)
Traders Cove Marina and Park. (Photo: Daniel Nee)

It may be many years before township taxpayers recoup their investment in the purchase and development of Traders Cove Marina and Park – but the marina is finally profitable and growing, Brick officials said.

In a review of the township’s Parks and Recreation Division budget for 2016, it was revealed that the marina made a profit, albeit a small one, in 2015.

During its first year of full operations in 2015, the marina’s operating costs were $261,738 and its revenue was $338,866, marking a profit of $77,128. It was technically the second year of profitability for the marina; in 2014, the township realized a profit of $9,555.


The marina has two full time and six seasonal employees, said Daniel Santaniello, the township’s recreation director. Last year, payroll rose by about 7.8 percent.

“All expense accounts increased, however so did revenue,” said Business Administrator Joanne Bergin.

The township purchased the former commercial marina in order to develop it as a park that could generate revenue through continuing marina operations. It was slated to have been developed into condominiums had Brick not purchased the site, partially through state Green Acres funds.

  • J W

    What’s the ROI work out to on this thing? If I recall, this thing cost us a pretty penny and it’s less than 1%.

    • Spell Check

      Those condos would have cost our town nothing. And the tax dollars from the area would be great to fluff up the mayor and his cabinets Heath benefits and kickbacks.

      • J W

        Oh, I agree- condos should have been built there instead. Too bad the empire builder Acropolis had other designs. At least he didn’t waste even more on that POS ice palace for his hockey team that the free market eventually took care of. That there was a great episode of people power in this town when a sweetheart deal got shut the hell down.

  • Mike Morton

    A true picture of “profitability” would include any interest payments on related debt. Is this included?

    • Spell Check

      Exactly. The should have a Starbucks/restraunt built that but a marina for the mayor and his friends to park their boats was a great idea. Most of us in brick do not have a desire to own a expensive money pit. The marina is priced out too. I just see the park filled with residents clearly from the town of Lakewood. The police have to monitor them and spend man hours on that. A great place if commercial property was added but the town is to stern on its stance

  • Smokin

    Wow making money for the township…And in the beginning people screamed it wasn’t going to work…times change …when new group can take credit ..

  • Spell Check

    Should have brought in the waterfront condos bad decision again. The tax dollars from the condos would have made good money as well as set to establish that end of mantoloking. But since we have suffered in having this place can we eminent domain land right over the bridge and establish ourselves a nice beach brick residents could park at this wasteful parking lot here and make use of it to be a beach hub point

  • Surfrider

    What are the duties of a “full time” Marina employee during the winter? Payroll rose 7.8%. What caused this, new part timers or raises?