[kevkrom]

Cunningham bought the 65-foot flat-bottom riverboat Kelly C from then-Rep. Sonny Callahan, R-Ala., for $200,000 in 1997. Five years later, he sold the boat for $600,000 to Thomas Kontogiannis, the Long Island businessman said yesterday. Kontogiannis defended the $600,000 price tag as "a steal," saying that he had received an appraisal for twice that amount.

If the boat was indeed used as housing in the DC area, I'm not at all surprised that it sold for a 200% profit in fivwe years...

[ko_kyi]

There are a limited number of slips in the DC harbors, but if you buy a boat there you can keep the slip - which is worth a lot in convenience.

[OldFriend]

Friends just paid $650,000 for a two bedroom house in the D.C. area.

My daughter's two bedroom apartment was bigger than that house.

[eddie65]

There's nothing in the article to indicate the boat was used as housing. It was a yacht that was not seaworthy.

[rmlew]

If the boat was indeed used as housing in the DC area, I'm not at all surprised that it sold for a 200% profit in fivwe years...
Don't confuse the media with facts or typos.
If the sale included the docking slip, then I can see the price being justified.