Presidential perk until 1977

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Possible Answers: YACHT.

Last seen on: NY Times Crossword 3 Oct 18, Wednesday

Random information on the term “YACHT”:

The term cruiser yacht refers to sailing or motor yachts that were built for long distance sailing and offer enough comfort and space to live on the boat permanently. They combine exhilarating performance under sail, an ability to motor at speeds of up to 10 knots, and luxurious interiors and facilities. The creation of this class of vessel means that large charter sailing yachts are no longer necessarily associated with solely with hardy sailors and bunk beds.[1] These vessels are not built to carry cargo. Another feature that is often used to define the term is the fact that cruiser yachts can support a permanent crew.

YACHT on Wikipedia