The Vessel

The Nordhavn 47 is an ocean going personal trawler produced by Pacific Asian Enterprises. It is the most successful hull in the PAE line with over fifty 47's traveling the by-ways of the world. Efficiency is two nautical miles per gallon traveling at 7½ knots. This gives the 47 a cruising range of almost 3000 N.M. She is stabilized to provide a comfortable sea-ride and equipped with the latest in radar, radio and other electronics.

SyD Vessel Management is in the business of syndicating new and used Nordhavn trawlers. Our current offering is a 2004 Nordhavn 47. The advantages of buying pre-owned are two-fold. Primarily the advantage is in the cost of acquisition. We will spend about $300,000 less than if we ordered a new boat from the factory. Second advantage is time. It takes about 9 months for delivery of a new N47. A pre-owned 47 will be very close to travel ready when we buy it. Another little advantage will be that all of the nit-picking troublesome mechanical glitches (that all new boats have) will have been purged by the first owner.

"Our" boat is under option by SyD Vessel Management. We can close the transaction when our four owners agree to fund the purchase. The price is $975,000 plus an 8% commission to SyD. We are raising $1,200,000 which will give us a surplus of $147,000 in cash to be used to fund housekeeping up-grades and have a balance of $100K +/- as "rainy day" money.