Thanks to their unique partnership and knowledge of the industry, Justin Nystedt and Joe Lazzara of Denison Yacht Sales continue to celebrate a successful 2022. In conversation with YATCO, they discuss how they work together as a team, the health of the yacht market, and an exciting new flagship yacht from Legacy Superyachts.
As a team last month, Nystedt and Lazzara sold 102’ Oceanfast HIGHLINE, designed by the legendary Jon Bannenberg in the same week as 118’ Millennium ARTHUR’S WAY – built by John Staluppi as a collaboration with Evan Marshall and Frank Mulder. “Two very iconic super yachts, both closed the same week, both by the same team of brokers. Thus, proving when you combine Denison Yachting’s marketing machine with a focused, tenacious, and experienced broker combo, you have the recipe for a successful yacht transaction,” starts Nystedt.
He explains that brokers working together is a strategy that Bob Denison has encouraged for many years. “With a solid friendship and mutual respect already established, the decision was rapidly made to push forward together. In addition to this pair of super yachts, Joe and I have collaborated on a total of nine deals so far this year that have either closed or are currently under contract.”
“With a solid friendship and mutual respect already established, the decision was rapidly made to push forward together. In addition to this pair of super yachts, Joe and I have collaborated on a total of nine deals so far this year that have either closed or are currently under contract.”
Looking at the health of the market, Nystedt is optimistic despite the supply being higher than demand. “There is no doubt there are more yachts entering the sales market than are being sold. This has been a consistent trend over the last eight weeks or so. Previously we saw week after week of more boats selling than entering the sales market, which lasted about a year and a half.”
He reports that many clients have recently sold their yachts and are waiting for the market to decline slightly before buying their next yacht. His advice to owners? Be patient. “Ride it out. Do not allow the money markets, which will always have their ebb and flows, to influence a decision you may regret later. You only live once. We don’t buy a yacht because we expect to make money. We do it because we have a passion for it. We do it because it brings us, our families, and those we surround ourselves with a great deal of pleasure and enjoyment.”
“We don’t buy a yacht because we expect to make money. We do it because we have a passion for it. We do it because it brings us, our families, and those we surround ourselves with a great deal of pleasure and enjoyment.”
As an established yacht designer, Lazzara also brings a unique perspective to the brokerage world. Lazzara and his design team have created the new ‘Legacy By the Lazzara Family’ brand and currently have several projects underway, including the current flagship L135. “The L135 is one of the new spec Aluminum builds by Legacy Superyachts. In today’s market, it’s a definite advantage to be able to take delivery of a new build in less than 14 months with the ability to fully customize the interior,” says Lazzara. “The L135 has a top speed of 29 knots, a shallow draft, and is ABS A1 commercial class build, with an asking price of USD $14,895,000, which is excellent value in today’s market,” he adds.
“The L135 has a top speed of 29 knots, a shallow draft, and is ABS A1 commercial class build, with an asking price of USD $14,895,000, which is excellent value in today’s market.”
