What’s behind Margate’s $1.1 million ‘cocktail’? A speedboat
Margate's splashy new bayside restaurant is selling top-shelf tequila with a boat chaser.
Earlier this year, restaurant owner Ray Leotta decided to add an eyebrow-raising cocktail to the “House Favorites” drink menu at Tideline, Margate’s latest bayside restaurant. The drink would befit the splashy 240-seat restaurant, which spans multiple floors and offers stunning sunset views and full service to the boats and Jet Skis parked in its slip.
Called the Liquid Asset, the drink consists of top-shelf tequila, a big ice cube, and a red chili pepper — for the hefty price of $1.1 million.
That’s because this summer sipper comes with a custom-built 39-foot speedboat.
“Everybody reads the menu and goes, ‘Oh wow, $1,100. What kind of drink is this?’ And we’re like, ‘No, that’s $1.1 million.’ And then, they freak out for a minute,” Leotta said.
The cocktail-and-a-boat idea was a 3 a.m. musing, said Leotta. Given the Shore’s bustling market for the boats, he thought the combo would be fun for local buyers. If he gets any takers, Leotta plans to offer the option every summer.
No one has purchased the Liquid Asset yet, but five regular customers have expressed interest in the unusual pairing so far, Leotta said.
“These boats are all custom-tailored, so they do take over a year and a half to make,” he said. “That’s another reason people are interested, because you can skip the line and you don’t have to wait.”
A year ago, Leotta reached out to Cigarette Racing, a Miami-based boat builder that specializes in luxury cigarette boats, who put him in touch with their New Jersey dealer to commission the speedboat. The boat, which will sport the restaurant’s blue-and-gray color scheme, is currently in production, with delivery anticipated for mid-August. Customers can use a QR code on the drink menu to view renderings.
If someone buys the “cocktail,” they’ll be presented with a contract to sign off on the purchase price, the boat, and all its features — plus a special engraved bottle of Clase Azul Gold tequila and the cocktail itself.
Since the boat is still in production, the buyer would be on the hook for a $400,000 deposit now, with the remainder owed once the boat is completed. If someone buys it after delivery, it’s $1.1 million at signing.
Despite the spicy pricing, Leotta is optimistic the Liquid Asset will find a buyer.
And if it doesn’t sell?
“It’s mine,” Leotta said. “And the cocktail will remain on the menu.”
