You can own part of this 279-foot-long superyacht for $3.2 million and stay on it whenever you want — see inside

• Superyacht Holdings is giving millionaires the chance to cohabitate the $117 million Victorious superyacht.
• The minimum one-time co-ownership payment is $3.2 million plus an annual over $321,000.

Calling all millionaires and billionaires: You no longer have to drop over $100 million to own a luxurious superyacht. Try a very affordable $3 million instead.

Superyacht Holdings is taking a (relatively) democratized approach to superyacht ownership with its first target acquisition, the €110 million — about $117 million — Victorious. Instead of asking one billionaire to independently pay for and own this 279-foot-long vessel, wealthy travelers can cough up €3 million, about $3.2 million, to co-own and cohabitate the Victorious for several weeks a year with other millionaires.

According to the startup's itinerary, the superyacht would spend its summers in the Mediterranean and winters in the Caribbean, turning this lavish vessel into a floating hotel or part-time condo building. Like a HOA fee, buyers would also have to pay an annual €300,000 — over $321,000 — to cover costs like gratuities, fuel, and food. (For context, the 279-foot-long Victorious can currently be chartered for $950,000 a week in the winter.)

"When billionaires get on yachts of this magnitude, their jaws still drop at the luxury," Thomas Locastro, Superyacht Holdings' cofounder and co-CEO, told Insider

Built in 2021 by Turkey-based Akyacht, Victorious has 12 staterooms, six bars, and five formal (seven informal) dining spaces.

Buyers can book whichever staterooms at whatever times of the year they'd like, pending restrictions based on how much they're willing to pay. This means there's a good chance several of these wealthy travelers would be on the yacht at the same time, like a very exclusive cruise.

At most, there could be 24 guests and 30 crew onboard. During big events like the Monaco Grand Prix or New Year's Eve, the vessel could be at full capacity. But on average, the startup is predicting an owner-occupancy rate of 62.5%.

"There's so few yachts in the world that would work for a program," Matthew Locastro, cofounder and co-CEO, said, noting the Victorious' size and number of staterooms.

The vessel has a walk-in wine cellar, two hot tubs, an indoor pool, a piano lounge, and a movie theater.

A helicopter pad can be used to shuttle travelers to and from the floating hotel. And let's not forget the onboard 2,150-square-foot "beach club" with a heated pool. This is also where the steam room, massage room, gym, salon, and water toys like jet skis are located.

And because the ship is currently in operation, Superyacht Holdings won't have to do any refitting work. "We want it to be ready to go on day one," Matthew said.

To the few who have ever considered buying a superyacht, this could be a great deal

For all of these amenities and a guaranteed few weeks on the vessel, travelers only have to cough up less than 3% of the Victorious' price. While still unattainable to the general public, this opens the pool of buyers from billionaires to multi-millionaires.

The startup's president, James St. John, was previously the president and CEO of luxury residential cruise ship The World where accommodations now resell between $2 million and $15 million. This vessel is the only condominium-at-sea concept in service and is exclusive to buyers who have a net worth of at least $10 million.

However, having previously worked in the entertainment and financial advisory industries, the cofounding and co-CEO Locastro brothers have no experience running a yacht or cruise company.

Superyacht Holdings hasn't acquired its vessel yet, but this isn't uncommon for ship startups

When Superyacht Holdings hits its target threshold of reserved "units," the company will plan to move forward with the Victorious' acquisition under a "co-ownership LLC," according to the brothers. That's when all of the buyers' $3.2 million-per-unit payments would go into a common escrow account.

Buyers' ownership of the ship is divided into 60 units. One unit entitles a buyer to a certain amount of usage of the yacht, an annual average of between three weeks in the nicest suite to seven weeks in the least luxurious twin stateroom.

Nine of the units have been reserved, Matthew told Insider in an email on November 6. One of the buyers, Justin Thorton, signed a memorandum of understanding to purchase two, entitling him to double the normal usage.

Less than a year away from its target launch of summer 2024, the brothers seem confident in this acquisition. In the meantime, future buyers' $100,000 deposits — to be held in a personal escrow account until the company closes on the Victorious — are refundable.