PENSACOLA, Fla. (WKRG) — The historic Pensacola Shipyard Marina and Boatyard was purchased on Monday, May 2.

According to a press release, David Finkelstein of DDJ Marine LLC purchased the shipyard located on Bayou Chico. Finkelstein has 18 years of marina ownership experience and this purchase marks his second marina purchase and operation in Florida.

The shipyard was first opened in 1917 where it built warships and vessels which became an essential part of the local marine community. Today, military ships are no longer built at the shipyard but it is a vital part of the local recreational and industrial boating communities serving as the area’s premier boatyard. The previous owner, Chris Long, sold the property after owning it for five decades. Long said the time was right for his family to find a new owner that would help the property grow in the future.

Finkelstein said Coastal Marina Management, a company from Panama City Beach, will manage the marina. The managing company specializes in marina operations for dry storage facilities, yacht clubs, boatyards, large yacht harbors, special events and pre-construction design consultation.

The Pensacola Shipyard Marina and Boatyard is a full-service marina and boatyard that provides fuel, protected dockage, in-water and out-of-water repairs, maintenance and service.