Panacea Yacht Group is pleased to announce the successful sale of M/Y PANACEA, a 115-foot Mengi Yay motor yacht that was represented by Ryan Gessel of Panacea Yacht Group. Arney Mendez of Florida Yachts International (FYI) represented the buyer.
Built by Turkish shipyard Mengi Yay and delivered in 2011, PANACEA entered the market following a comprehensive 2024/25 refit that addressed her interior, exterior, electronics, mechanical systems, and guest spaces. The yacht was sold to a buyer based in Mexico, with plans to cruise extensively throughout Mexico and the Bahamas.
About M/Y PANACEA
At 115 feet (35.1 meters), with a 23’5″ beam and approximately 5’11” of draft, PANACEA combines the volume of a large motor yacht with a layout designed for both private cruising and extended time aboard. Her composite construction, 199 GT volume, twin Caterpillar C32 ACERT engines, and relatively shallow draft make her a capable platform for cruising destinations where access and draft can be important considerations.
Originally delivered as Joan’s Beach, PANACEA was designed with both her interior and exterior spaces by Kerim Demir. Her five-stateroom configuration is one of the defining features of the yacht, with accommodations arranged around a main-deck master suite, a second full-beam master, a forward VIP, and two additional guest staterooms.
That arrangement is particularly notable for a yacht of this size. Rather than relying on a single oversized owner’s suite and conventional guest layout, PANACEA provides two full-beam master accommodations, giving owners considerably more flexibility when cruising with family, friends, or multiple couples.
A Complete 2024/25 Refit
The most significant differentiator was PANACEA’s extensive refit, completed in 2025. Rather than a cosmetic refresh, the project addressed virtually every aspect of the yacht’s living spaces and major systems.
Interior Refit
The interior work included:
- New engineered hardwood flooring throughout the main deck
- New custom carpeting on the stateroom level
- New furniture throughout the salon and all staterooms
- Interior woodwork replaced or refinished
- New custom cabinetry in the salon, dining area, and primary suite
- New wallcoverings throughout
- Complete Imtra LED lighting retrofit
- Updated AV systems with Starlink, Smart TVs, Apple TV 4K and Sonance speakers
- Dedicated AV systems in all staterooms
- Refinished heads with custom cabinetry, quartz countertops, new hardware, and custom mirrors
- Custom SkinRock polished Carrara marble flooring and shower walls
- Custom salon bar with backlit SkinRock, drink refrigerator, and slide-out bottle and glass storage
- Custom wireless sheer shades with individual zone remotes
- Enlarged salon window frames
The result was an older hull platform with a substantially modernized interior, allowing the next owner to step aboard a yacht that had undergone the type of comprehensive work normally associated with a major ownership cycle.
Exterior & Entertainment Spaces
PANACEA’s exterior spaces were another major point of differentiation.
Her single-level flybridge is unusually expansive for a 115-foot yacht, with room for dining, lounging, water toys, and entertaining without forcing these functions into separate or compromised areas. The aft portion provides space for toys, while the covered center section accommodates dining and lounging. Forward, a dedicated bunny pad with a rebuilt Jacuzzi and wet bar creates another outdoor gathering area.
The exterior refit included:
- Complete exterior repaint by Luu at LMC in 2022
- New teak caulking in 2023/24
- New Sunbrella upholstery throughout the aft deck, flybridge, bow, and Jacuzzi/bunny-pad areas
- New custom quartz split tables for dining or cocktail use
- New flybridge dining furniture for 10
- New flybridge cocktail table and deck chairs
- Completely rebuilt hot tub with new pumps and controls
- Rebuilt flybridge helm Bimini frame with new Stamoid canvas
- New sail shades over the hot tub and bunny pad
The combination of a five-stateroom interior and unusually large, single-level flybridge gives PANACEA a configuration that is difficult to replicate on many comparable 110- to 120-foot yachts.
Machinery & Systems
The refit extended into the engine room and mechanical systems.
PANACEA is powered by twin Caterpillar C32 ACERT diesels, producing a combined 3,600 HP. At the time of her listing, the engines had approximately 5,120 hours. The yacht carries approximately 3,434 gallons of fuel and 793 gallons of fresh water.
Mechanical work completed during the refit included:
- Heat exchanger service with new plates
- Aftercooler service
- Valve adjustments
- Full main engine services
- Full transmission services
- Full generator services
- Watermaker service
- New air-conditioning system for the crew cabin
- Complete inspection of the AC system
- Cleaning and inspection of all air handlers
- Complete AC system descaling
- Replacement of chilled-loop insulation where required
- Updated electronics at both the pilothouse and flybridge helms
- Powdercoating of engine-room deck plates, door frame, and tool benches
The yacht’s shallow approximately 5’11” draft is also notable for an 115-foot motor yacht. Combined with reported cruising speeds around 20 knots and a top speed of approximately 22 knots, PANACEA offers a combination of speed, volume, and draft that works particularly well for cruising grounds with varied depths and island access.
Why PANACEA Stood Apart
The market for pre-owned 100- to 120-foot motor yachts includes a wide range of older vessels, but PANACEA presented a distinctly different proposition.
Her key differentiators included:
Five-stateroom layout with two full-beam masters — including a main-deck master suite, giving owners the privacy and accessibility expected on a much larger yacht.
A massive single-level flybridge — providing room for a tender or water toys while retaining dedicated dining, lounge, Jacuzzi, wet bar, and helm areas.
Extensive 2024/25 refit — the project went far beyond furniture and soft goods, extending into cabinetry, flooring, lighting, AV, air conditioning, watermakers, electronics, engines, transmissions, generators, and other mechanical systems.
Modern connectivity and entertainment — Starlink, Smart TVs, Apple TV 4K, Sonance speakers, dedicated stateroom AV, and updated helm electronics bring the yacht’s onboard technology in line with contemporary expectations.
Updated exterior presentation — including a professionally applied Luu/LMC paint job, refreshed teak, new upholstery, furniture, canvas, and a rebuilt Jacuzzi.
Shallow draft for her size — approximately 5’11”, an important characteristic for owners planning to explore areas where deeper-draft 115-foot yachts can be more restricted.
For the eventual buyer, these characteristics aligned particularly well with the intended cruising program in Mexico and the Bahamas, where a combination of substantial onboard volume, outdoor entertaining space, reliable systems, and relatively shallow draft can be especially useful.
A Successful Cross-Border Transaction
The sale also brought together brokers and a buyer with an international cruising program.
Ryan Gessel of Panacea Yacht Group represented the listing, while Arney Mendez of Florida Yachts International represented the buyer. Mendez is a licensed Florida yacht broker with FYI, and the transaction brought together the buyer’s representation and Panacea Yacht Group’s central listing representation to complete the sale.
With PANACEA now headed toward Mexico and the Bahamas, her next chapter will take her into cruising grounds well suited to the yacht’s combination of expansive outdoor areas, five-stateroom accommodations, shallow draft, and substantial refit work.
Congratulations to the New Owner
Panacea Yacht Group congratulates the new owner of M/Y PANACEA and thanks both sides of the transaction for their professionalism throughout the process.
We also extend our thanks to Arney Mendez of Florida Yachts International for his representation of the buyer and to Ryan Gessel of Panacea Yacht Group for representing the listing.
Thinking About Buying or Selling?
Whether you are looking for a 100- to 120-foot motor yacht, a recently refitted cruising yacht, or a vessel capable of supporting an international cruising program, Panacea Yacht Group can help identify opportunities both within our exclusive inventory and through our worldwide brokerage network.
If you are considering selling your yacht, our team combines strategic positioning, targeted digital marketing, professional photography and video, broker-to-broker outreach, and extensive industry relationships to put your vessel in front of qualified buyers.
Contact Panacea Yacht Group to discuss your next yacht purchase or sale.