The Yachtsman Resort
The Yachtsman Resort is a premier luxury resort situated along the picturesque coastlines, offering guests an unparalleled experience in comfort and elegance. Established in the early 2000s, the resort was founded by a group of maritime enthusiasts dedicated to providing a unique blend of leisure, adventure, and relaxation. Over the years, The Yachtsman Resort has expanded its facilities to include world-class amenities, a renowned marina, and exclusive offerings for sailing and water sports. Its commitment to excellence and sustainable practices has made it a preferred destination for travelers seeking both adventure and tranquility. With a history rooted in maritime culture and a focus on guest satisfaction, The Yachtsman Resort continues to set the standard for luxury coastal retreats.
News Summary
The Yachtsman Resort, a prominent oceanfront property in Myrtle Beach, has begun selling individual condo units for the first time in its history. Owned by Hybridge Capital Management, the resort offers 80 rooms at prices significantly below market value. With about 20 units still available, the resort’s nostalgic appeal is attracting buyers looking for seaside retreats. However, the sale coincides with ongoing legal challenges related to a past incident, which may impact the property’s reputation and operations.
Myrtle Beach – The Yachtsman Resort, a well-known oceanfront property in Myrtle Beach, has made headlines by selling individual condo units for the first time in its history. The resort, now owned by Hybridge Capital Management, began this unprecedented sale in June 2024, offering 80 individual rooms for purchase.
Located on North Ocean Boulevard, The Yachtsman Resort features two high-rise buildings with a total of 159 rooms. The units are being sold at prices significantly below the current market value, estimated to be around 25-30 percent cheaper, which averages approximately $300 per square foot. Initially, there was a strong interest from potential buyers, but around 20 units remain available as the sales continue.
Max Mellman, a managing partner at Hybridge Capital, commented on the property’s unique characteristics and nostalgic value that have particularly appealed to buyers seeking a seaside retreat.
Hybridge Capital acquired The Yachtsman Resort following a bankruptcy in February 2024. The resort boasts a range of amenities, including two outdoor pools and one indoor pool, along with rooms equipped with full kitchens. Its prime location offers easy access to the local boardwalk, dining, shopping, and various entertainment options.
Hybridge Capital’s portfolio in the Myrtle Beach area also includes the newly opened voco The Shelby hotel, showcasing the company’s commitment to investing in the region’s hospitality market.
However, the sale of condo units comes amid ongoing legal challenges. A lawsuit has been filed against The Yachtsman Resort in connection with the fatal shooting of Rhonda Harris on March 1, 2022, by Lashawn Jarrett at the hotel. The wrongful death suit alleges negligence on the part of the resort, citing its lack of security measures despite being situated in a high-crime area.
The estate of Rhonda Harris seeks both actual and punitive damages, asserting that the resort failed to maintain a safe environment and did not respond adequately to emergency situations. The lawsuit claims there were ongoing dangerous conditions at the resort that contributed to the tragic incident.
This legal action was officially filed on November 8, 2024. A front desk manager at the resort has indicated that the recent change in ownership has constrained their ability to provide detailed comments regarding the ongoing case.
In summary, while The Yachtsman Resort is expanding its offerings by allowing condo unit sales for the first time, the property is navigating significant legal issues that may impact its reputation and operations. As the resort continues its transition under new ownership, the remaining units are likely to attract buyers looking for a blend of nostalgia and investment opportunity in a prime coastal location.
Deeper Dive: News & Info About This Topic
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Additional Resources
- The Post and Courier: Yachtsman Resort Condos Myrtle Beach
- Connect CRE: Myrtle Beach Resort Selling Units
- Myrtle Beach Online: Local News
- WMBF News: Myrtle Beach Hotel Lawsuit
- WBTW: Iconic Myrtle Beach High-Rise
- Wikipedia: Myrtle Beach
- Google Search: Myrtle Beach Condos
- Google Scholar: Myrtle Beach Resort
- Encyclopedia Britannica: Myrtle Beach
- Google News: Myrtle Beach
Author: STAFF HERE MYRTLE BEACH
The HERE Myrtle Beach Staff Writers are a collaborative team of journalists, editors, and local contributors passionate about delivering accurate, timely information to the Myrtle Beach community. As part of the HEREcity.com Network, which powers over 100 U.S. city sites including HEREcolumbia.com, our staff draws on collective experience in South Carolina journalism to cover everything from business sales and real estate developments to dining deals and community initiatives. Our Expertise and Background Local Roots in Myrtle Beach Our team includes lifelong Myrtle Beach residents and SC natives with deep knowledge of the area’s history, economy, and culture. We’ve covered key events like the recent developments along the Grand Strand, Myrtle Beach’s tourism and hospitality industry, and growth in local education sectors (e.g., Coastal Carolina University programs). Collective Experience With over 50 combined years in journalism, our staff has backgrounds in print, digital media, and community reporting. We prioritize fact-based stories, drawing from sources like the Myrtle Beach Area Chamber of Commerce, city government records, and on-the-ground interviews. Commitment to Quality Every article is a group effort, involving research, editing, and verification to ensure reliability. We adhere to journalistic standards, citing credible sources and updating content as new details emerge.
