Luxury Waves on the Horizon: New York Private Surf Club Seeks $45M Investment and $100K Membership
A groundbreaking private surf club, Crest Surf Clubs, is making waves in New York, aiming to raise $45 million to establish its first U.S. location in Shirley, Long Island. This exclusive venture plans to offer year-round surfing with artificial waves and a suite of luxury amenities, targeting an elite clientele with a hefty $100,000 initiation fee.
Crest Surf Clubs: A New Era of Private Surfing
Crest Surf Clubs, positioning itself as the nation’s premier private member surf club, is spearheaded by founder and CEO Brett Portera. The club’s ambitious plans include a 3.5-acre site in Shirley, Long Island, which, if funding is secured by summer’s end, could be operational by spring. The capital raising effort, advised by Wedbush Securities, may involve convertible debt.
Membership and Amenities
Membership at Crest Surf Clubs comes with a significant price tag, reflecting the exclusive experience offered:
- Initiation Fee: Approximately $100,000 (over half of the 500 founding New York memberships already sold).
- Annual Membership Fee: An average of $20,000.
Members will gain access to a luxurious clubhouse featuring:
- Dining facilities
- Gym and spa services
- Co-working spaces
- Artificial wave pools with controlled water temperatures, allowing for year-round surfing.
In New York, the wave pool will accommodate up to 20 surfers per session, generating around 120 full-size waves, reaching heights of up to 6.5 feet, per hour.
Key Takeaways
- Crest Surf Clubs aims to be the first private member surf club in the U.S.
- The club is seeking $45 million in funding for its initial Long Island location.
- Founding memberships require a $100,000 initiation fee.
- The club will offer year-round surfing with proprietary artificial wave technology.
- Future expansion plans include up to 20 standalone clubs across the U.S. and potential international sites.
Proprietary Wave Technology and Market Trends
The advanced wave technology at Crest Surf Clubs was developed by CTO Alex Poirot, a former engineer from Kelly Slater Wave Co., known for pioneering the technology used at the invite-only KSWC Surf Ranch. This technology is also employed at Surf Abu Dhabi, where advanced open surf sessions cost around $950 per person.
The demand for man-made waves is growing, with examples like:
- Palm Springs Surf Club (California): Public access, $200 for hour-long sessions.
- Brazilian Surf Clubs: Family memberships starting at roughly $125,000 and $184,000.
Wave pools are also integrating into residential developments, such as the Austin Surf Club, a Discovery Land Co. project tied to Drew Brees and Tony Hawk, and the Cabo Real Surf Club in Mexico, which promises 240 waves per hour alongside homes starting at $2.5 million.
Future Vision
Crest Surf Clubs has a broader vision to scale its operations, with plans to develop as many as 20 standalone private clubs across the U.S., some integrated into residential communities. Potential sites have been identified in Florida, North and South Carolina, Arizona, California, and Texas. The company is also exploring opportunities in Central America and the Caribbean, engaging in discussions with potential development partners.
Sources
- New York Private Surf Club Wants to Raise $45M, Charge $100K, Front Office Sports.
