Thursday, December 18, 2014

Nautilus Cove Condo Information

NCC is in Panama City Beach which is located in the Florida panhandle (Bay County) about halfway between Tallahassee and Pensecola.  There are 168 condos in 16 2 story buildings.

This is a low income condo which was initially built as an apartment complex as was the sister community in PCB called 'Stone Harbor' (see:  Both look very similar.  At some point the developer decided that the property should be a condo and sold them as such.  56 units remained unsold when the bottom fell out of the condo market and today all these and most owned units are rented out as low income apartments.  Over the years the Developer has tried several times to sell all the units in a 'bulk sale', so far no luck.

Most of the units at NCC are rented out, only 1 in 7 condos are occupied by the actual owners.  

For Your Information: 
You can see Owners List's, Delinquency List's and old condo newsletters at: and you can click on this direct link to see the meeting minutes for the last 6 years:, for 185 NCC photos see:

There is also an under used message board for NCC found at:   

also look at:
Declaration of Condo:
By-Laws of NCC -
NCC Articles of Incorporation -
Rules and Regulations -
New 10/4/10 Condo Management Agreement -

Old Condominium Management Agreement -
Budgets of 2012, 2012 Balance Sheet of 10/2010 -
6 NCC Newsletters:

Contact the NCC Board of Directors  Secty/Treasurer
Office Tel:  235-1009
Office Fax:  235-1282

Wednesday, December 17, 2014

Evictions from #708 and #513

#1001 On the Market for $119,900

Listed as of 12/17/14, this 3/2 ground floor originally sold to Ann Henry 6/22/07 for $164,900 and on 11/25/13 went to Joann Dance for $96,000 it is now on the market again with MLS #626969.



Evictions from #708 and #513
708?  Now that is a familiar unit number, where did I hear of that before??

Oh yeah, I use to own it until I sold it back to the developer, furnished, for $93,000.  Then it got rented out to Nicholas Boos, native of PCB and former Dave and Busters employee.  Now evicted from my old unit.

Couldn't care less, I'm just glad I'm out of Nautilus Cove.  You can see the quality of renters that Concord Management lets into NCC.  
 Nicholas Boos:

Case Number:  14002769CC
Clerk File Date:  11/25/2014
County Civil   Uniform Case Number:  032014CC002769CCXXXX
Status Date:  12/9/2014    EVICTIONS   Status:  CLOSED


  12/9/2014 FINAL JUDGMENT OF EVICTION - Recorded (OR.3660.1883 / 2014064538)
  12/9/2014 SENT EMAIL TO ATTY
  12/9/2014 CASE CLOSED
  11/25/2014 PAYMENT $195.00 RECEIPT #2014071449
  11/25/2014 CLK TF/DOR SUMMONS SC ASSESSED $10.00
  11/25/2014 CASE FILED 11/25/2014 CASE NUMBER 14002769CC



Nancy J Potratz and Josh Dutton, 513 Lighthouse Rd Panama City Beach, FL 32407, Tel (269) 668-5587
  12/11/2014 PAYMENT $195.00 RECEIPT #2014074334
  12/11/2014 CLK TF/DOR SUMMONS SC ASSESSED $10.00
  12/11/2014 CASE FILED 12/11/2014 CASE NUMBER 14002888CC

Sunday, December 7, 2014

What is on the market as of 12/7/14 at NCC?

513   Cape Cod DR, a 2/2,  List Price $111,500,  MLS#:   626522
106   CAPE COD DR a 4/3, ListPrice:  $131,900, MLS#:  626521

1601 CAPE COD DR a 3/2, ListPrice:  $120,900, MLS#:  626523
    (all 3 owned by:   Theodore Georgekopoulos)
1404 Lighthouse Rd, a 4/3, List Price $127,500, MLS#:  626624
     (owner: Theo Sexton)

Details at:

If you want to see all info posted on the site about these units or any others, just put their numbers into the white search bar at the top left of the blog and bring up all posts.

Could Golf Carts Be Coming to Nautilus Cove?

'Back Beach Road eyed for golf cart crossing in Panama City Beach'

See the long article at:

"The crossing would allow the residents to drive their carts across Back Beach Road to the Nautilus Station plaza, which has a Carrabba’s restaurant, Beef ‘O’Brady’s, a UPS store and other businesses."

“We’d definitely support that crossing. It would be great,” said Gibson, who is secretary of the Bid-A-Wee Beach Park neighborhood association."

NCC is next to the referenced strip mall and 'if' any NCC residents had a golf cart they could use it to cross over to the Bid A Wee area and go to the beach or shops on Front Beach Road and even travel to the shops at Pier Park.

The number of residents who might take advantage of such a crossing would probably be somewhat limited as both the costs of a golf cart and a place to park it would require some serious thought both by the resident and the association.

Thursday, November 6, 2014

#905 Back on the Market

On 10/28/14 NCC released the May 2012 lien and acknowledged payment of the outstanding $7,865.25.

The 4/3 vacant, parking lot side, 2nd Fl unit is again on the market, this time for $95,000 as a short sale under MLS 412664.  #905 was originally purchased by Matthew Hooke on 9/14/07 for $179,900.  Taxes run $1,028 yearly.

Thursday, October 23, 2014

Recent months have seen some major problems between 2 Nautilus Cove Condo owners who serve on the Board of Directors at NCC.

Read more at:

So is this Blog 'OPEN' or is it 'CLOSED'?

Neither is entirely correct. 

This blog goes back to 2007 when I purchased here, but I sold my condo in January 2013 and of course my interest level has dropped considerably.

Still there is quite a lot of information here that is of value to Owners, Renters or those considering a purchase, so the blog will remain so all can access the info, it just won't be added to very often.

Bill Harris

Who is your NCC CAM (Office Manager)?

He is a former PCB cop who resigned after a condo brawl which resulted in his department and himself being sued by an injured owner. He is now managing your condo.

By Jan Bergemann
Published March 7, 2014

Most of us have seen association meetings getting very emotional. That’s no miracle since the topics of home and money stir up minimum as many emotions in human beings as religion and politics.

Shouting matches are actually pretty common in such meetings. I have watched many videos of meetings of board and/or membership meetings turning pretty wild. I guess some folks wish they would have never said what was shown on tape if they watch it a day later. Too many people are making an a.. out of themselves at such meetings. Never forget: Civilized meetings definitely create better results!

But not all heated discussions just end in verbal exchanges with lots of screaming and yelling.

Some of these emotional discussions actually don’t stop with threats, some really turn physical. Over the years there have been many reports in the media about actual fights at such meetings and people even going to jail over it.

I still remember the story from Ocala where two homeowners attacked a representative of developer Zacco at a meeting of concerned owners (see: Meeting turns violent; two arrested). For these two the meeting ended in jail. It seems the name Zacco stirs up lots of emotions in Ocala ’s communities as we could see at a recent HOA meeting organized by the Division and Senator Hays. I think most owners in that area feel that the police should rather arrest some Zacco family members instead of homeowners.

It doesn’t happen too often that such meetings turn violent, but most often it is foreseeable that it might happen. There are a lot of warning signs popping up before such confrontational meetings! And the people in charge should take notice – before somebody ends up in the hospital or the jail.

Sometimes an off-duty police officer in uniform will stop the feuding parties from getting physical.

But police officers can as well create a lot of havoc at owners’ meetings. Remember the case of the Fontainebleau Terrace Owners’ Association in Panama City Beach , where police officer Donald Nichols, in an attempt to help his “buddy” Cam Ray McDonald, actually started the violence and arrested a condo owner, injuring others? (THIS IS A CONDO BUST -- NOT A DRUG BUST!). The police department was sued and police officer Nichols resigned. But guess what: He became a licensed CAM (License Number CAM36678*). I guess he chose that profession in order to be able to continue his bullying tactics?

But in most instances hiring a police officer will guarantee a more peaceful meeting – meaning the expense of paying an officer to be present at the meeting pays dividend. Shouldn’t we all be able to look forward to a nice community meeting without screaming, yelling or even a brawl?

Read more:

* Licensee Information
               Name:   NICHOLS, DONALD C (Primary Name)
               Main Address:    91 WINDRIDGE CT, PANAMA CITY BCH  Fla  32413
               County: BAY       
  License Information
               License Type:      Community Association Manager
               Rank:     CAM      License Number:  CAM 36678
               Status:   Current, Active
               Licensure Date:  05/07/2010         Expires: 09/30/2016


Stang v. City of PCB and Donald Nichols

Post by ADMIN. on less than a minute ago

I was looking for that Fontainebleau Terrace case in the Federal Civil filings for the N. District of Florida, but seems it never made it to Federal Court. 

I did find a 2006 case where the mother of a man that Donald C. Nichols arrested sued both the PCBPD and Nichols as her son eventually killed himself, all the charges had by then been dropped from Felony to Misd then dropped all together. The arrest was so baseless no one would take it to court.

The Civil Counts charged were:

  •  1  False Arrest/False Imprisonment
  •  2  Battery
  •  3  Excessive Force
  •  4  Negligent Hiring/Retention/Supervision
  ("Defendant City knew or should have known of Defendant Nichols' propensity to violate the rights of detainees and to use excessive force.")

The civil case was settled for the mother and estate, no idea what the award was.

Tuesday, October 14, 2014

Board Problems Grow at Nautilus Cove

Misc FYI:   In the matter of NCC conflicts, things are now taking a turn for the worse with one of the owners sending an Anonymous email to the VP. You can see this at:

Further, although sent with no name/unit number I do know who the author is due to having had other input from this person during my tenure with wording the same as in this more recent letter.

This years BOD election shapes up as being very contentious and will see the Developer Board member continue and not subject to 'election' but the 2 owner Board members will probably run again, the current Assn. VP having already indicated that this is her intention.   

Should the current Assn President run and be elected you can count on her and the Developer member voting together and cutting the current VP out of any role in the condo.  We have seen this before when during my time at the condo the Developer member teamed up with the Assn. owner Pres Lenny DiGiocomo to cut out the then serving VP from any role in the condo.

In my opinion, based on many years of having to deal with the Developer, any owner who aligns themselves with a Developer Board Member is representing Developer interests and is not be representing the Owners.

We will have to see how this works out but it will probably be a lot messier before things are resolved.

When I left in Jan of 2013 things were not going well and I was standing for the BOD on the sole platform of removing Condord Management from the property.  

The Developer which is partners with Concord in many ventures, including NCC, offered me a bit above the going market rate for units at NCC and I took advantage of this to unload the condo even though it was at a loss of $78,000.

The author of the newsletter was then President and later she changed places with Ms Webber and took the VP position.  Now there are continued problems at the condo as outlined in the newsletter.

Below is the text followed by the harder to read images of the items


NAUTILUS COVE (Newsletter)

Non-Functioning Board of Directors
Aug 30, 2014

Over the past year, bicycles parked in common areas has become an eyesore and makes Nautilus Cove Condominiums appear to be a transient property. After notifying Concord Management’s Property Manager, Ms. Lorie Blue, to notify all owners to first, remove them from common areas and if not compliant, to have them towed from the property within a reasonable period of time. This instruction has been given to Ms. Blue on numerous occasions without any action being taken, other than the comment “I’m working on it”. 

After a reasonable time and with no action taken, I sent a letter of violation to all Owners that bikes parked in common areas of property would be towed with a date of towing. 

I did so because the Management Firm does not abide by their contract that states they will enforce all Rules and Regulations of the Association. For this same reason, they will not have their contract renewed and we have hired another Management Firm. 

If The Association does not enforce ALL our R&Rs and a tenant or owner files a lawsuit against us, it is The Association that will pay if the plaintiff wins in court. (And that is the exact case The Association was presented with when the Owner of Unit 708 filed a lawsuit that Nautilus Cove was not enforcing the Rules and Regulations. This suit was settled out of court and The Association (The Owners) paid $7,000 to the Owner of 708. This suit was filed upon The Association because it would not enforce the Rule & Regulation regarding dogs on property). 

To continue, the date passed for towing of the bikes still on property as I was delayed in taking action due to my husband’s hospitalization. The Board Members and the Fines Committee were copied on all correspondence without any feedback. I then sent another letter to Owners again with an extension of towing date. I had no contact or correspondence from Ms. Webber regarding this issue, as she states in her letter. If she would have instructed me not to have them towed, I would have explained that she does not have the authority to refuse to enforce the Rules and Regulations, etc. 

It should also be noted, that the President chose to send this letter immediately after I had posted a towing tag on a vehicle parked in a non-numbered parking space near the 8 Building that had an expired vehicle tag since 6/14. I advised the Concord Management Property Manager, Lorie Blue, to call the towing company and if the violation was not corrected by the following day, to have the vehicle towed. Once again, the vehicle still sits in the parking space with expired tags as I send you this letter. Note that this violation is also addressed in Item 2, above. Turns out, the vehicle is a friend who is staying with the President in her unit. I ask, why does The President feel she does not have to follow the Rules & Regulations as everyone else does? 

In December, 2013, the Secretary/Treasurer, Norman Knight, was appointed to the Board by the Developer, and the President, Jaime Webber was appointed by the Board Members, I stepped down to the Vice-President’s position. At that time, I had many personal commitments to fulfill and simply did not feel I would be able to be as diligent in fulfilling the President’s position as I had done for the previous two years. In no way, did I feel that I no longer had an obligation to fulfill my fiduciary responsibilities to Owners, though. As time passed, I became quite concerned as the President informed me that I should direct all questions and issues to the Property Manager, as she was too busy. I sent a letter in response informing her that this is not how an Association worked. It is the Association who directs and informs the Property Management Company of what needs to be done or corrected. To date, I have not had a response from The President. 

Since our Board has a President that does not follow the Rules and Regulations herself, (Bikes parked on common ground, a dog that is over 36 pounds that has not been given written permission, and having a vehicle with expired tags of an un-registered occupant, I do not feel that I should be held responsible for payment of the charge for towing. 

If fact, it is the Management Firm who should pay this bill for directly refusing to enforce Nautilus Cove Rules and Regulations! And that is what I stated in an email I sent to Ms. Blue (copies to other Board Members, also).

I would appreciate your input regarding the following questions–

1. Should Nautilus Cove continue enforcing all Rules and Regulations?
2. Should the cost of Attorney Fee for this certified and recorded document be applied to the President as it is unwarranted and towing was in accordance with our Rules and Regulations, By-Laws and Declaration?
3. Should the Vice President be assessed for this invoice?
4. Should my account be charged with a delinquency if not paid?
5. Do you feel that abiding by the Rules and Regulations warrants a threat of removal from the Board?
6. Should Concord be responsible to payment of this bill for non-compliance?
7. Should the Board increase the number of positions on the Board from 3 to 5?
8. Should the Board indicate on Future Board Member Voting Ballots the position each candidate is running for, as opposed to the Board selecting the Position to be Held?

If you reply, it is important that you send it to ALL Board Members listed below;

I look forward to the opportunity to continue to serve the Association, its Owners, and its residents in the future. Speaking of continued service, I want to let all those who have been asking if I plan to run for President of The Board again. Yes, I do. I appreciate all of you so much and the interest taken by all of you to assure this resort continues to be known as one of the finest, first-class resorts on Panama City Beach.

Please let us know if there are any questions or concerns we may address.

Babs Simmons
Nautilus Cove Resort 
Homeowners Assoc.


Letter from President to Vice-President
Mrs. Barbara Simmons
802 Cape Cod Drive
Panama City Beach, FL32408

Re: Towing of Bicycles

Dear Barbara--

This letter is written in response to your unilateral action of having bicycles towed from the property last week without Board approval and against my specific instructions. As a result of your actions the Association incurred an expense of $177.50 to retrieve the bicycles and a basketball hoop on behalf of the owners. Hopefully, this will prevent the Association being sued for your actions.

I have discussed this situation with legal counsel and I have been advised that the expense associated with obtaining the return of the bicycles can be assessed against you. Because I told you not to have the bicycles towed, J feel you should be the one to shoulder this expense. I am therefore enclosing a copy of the invoice, addressed to you, and requesting that you pay the invoice immediately. If you do not pay the invoice, the Association will pay it and assess your account. If you do not pay this obligation, you will be considered delinquent and will be treated accordingly. It could result in your removal from the Board.

In the future I ask that you not undertake unilateral actions as a Board member and that you abide by the decisions of the Board and its officers so we do not have a repeat of this type of situation. This includes writing violations to residents or owners. Violations will be reported to the management company for formal violation letters and action.

Jaime Webber

Post comments on this at:

Friday, October 10, 2014

Nautilus Cove Was Always Meant As Low Income Housing - Not a Condominium

Moved up the Blog:  From the Archives 2004 - F.Y.I.
"Local: Income-based housing hits the Beach"

Local: Affordable housing at beach grows
Monday, June 21, 2004

By Cara New - News Herald Writer
747-5071 /

Pricey beachfront condominiums are going up with a bang, but affordable housing options in Panama City Beach are growing too — albeit more slowly.

The Bay County Housing Finance Authority just applied for $7 million in tax-exempt bonds to begin its second multi-family affordable housing project. The first project was Andrews Place Apartment Homes on Frankford Avenue in St. Andrews.

The $7 million bond issue will cover much of the $11 to $12 million cost of the Nautilus Cove Apartments, a 192-unit, multi-family rental community to be located on the northeast corner of Back Beach Road and Nautilus Drive.

"Each one of our properties came with a market study identifying demand," explained Ben Johnson, chairman of the Housing Finance Authority, a public corporation that assists with affordable housing projects in Bay County.

Johnson said the apartments would help the many people who work in the service industry on the Beach and cannot afford to live there.

Because the apartments benefit from public funds, prospective residents have to meet income requirements and rent is adjusted to be no more than 30 percent of a renter’s income, Johnson explained.

The developer, The CED Companies, is based in Maitland and calls itself an "innovator" in the field of affordable apartment housing. The CED Companies also developed Stone Harbor Apartments, a 160-unit affordable housing community on Alf Coleman Road in Panama City Beach.

Johnson said construction on Nautilus Cove Apartments would begin late this year and would take 12 to 15 months to complete.

Other info about how our NCC complex is being marketed to low income housing applicants is available at:
Misc Info:  'Stone Harbor' is our downmarket sister community, located 2 miles from NCC, built by the same group of companies and mis-managed by the same Concord Management that mis-manages Nautilus Cove. info on Stone Harbor is at:   

Local: Income-based housing hits the Beach
2004-03-11 06:31:00 see also:

Apartments offer qualified tenants affordable housing

By Cara New News Herald Writer

Nelva Youngblood's search for affordable housing in Panama City Beach was nearing a dead end when a friend told her about Stone Harbor apartments. "I'm a single mom, trying to make it with my son on my own," Youngblood, 30, explained. "There was nothing I could afford and I was going to have to drive over the bridge (to get to work), which I dreaded."

The brand-new Stone Harbor apartments, 501 Alf Coleman Road, has 160 one-, two-, three- and four-bedroom apartments for residents who meet federally defined income limits. The remaining 56 of its 216 units are available at "market rates" for those who exceed the income limits. Youngblood is an office manager for Brannan Aluminum and Vinyl, and she said she was surprised when her income qualified. "When you hear of qualifying for housing, you think of low income," she said. "And that's what I didn't want."

Stone Harbor is a far cry from lowincome housing projects, with its 24-hour fitness room, sparkling pool and a wide-screen television gracing the lobby. The apartments are located in two-story townhouses, creating a neighborhood feel. The income limits are based on the number of occupants living in a given apartment. Pete Mann, a district lease manager for Concord Management, which manages the apartments, said two people living together, like Youngblood and her son, can't earn more than $23,640, while four people together can't earn more than $29,520.

Stone Harbor's grand opening is today at noon, but residents started moving into the apartments in December. Mann said the units are about 70-percent full and are expected to be full by the end of April. Youngblood's two-bedroom, twobathroom apartment is $605 per month at affordable rates and $857 per month at market rates. In comparison, an informal poll of Beach apartment complexes run by Arthur Cullen, the Panama City Beaches Chamber of Commerce vice president of economic development, found the average price for a two-bedroom apartment to be between $800 and $850.

Meeting a need Youngblood's difficulty in finding affordable housing is shared by many, according to Beach officials. "I think there is a tremendous need on the beach" for affordable housing, Panama City Beach Mayor Lee Sullivan said. "One need only look at the traffic over Hathaway Bridge in the morning to see that the majority of the workforce comes from the east side of the bridge to come here to work. I think it would be nice for people who work out here to be able to live here if they want."

The developer, The CED Companies, is based in Maitland and calls itself an "innovator" in the field of affordable apartment housing. "We've seen for quite some time a pent-up demand in (the Panama City Beach) area for affordable housing, especially in the workforce, among working families," said Scott Culp, executive vice president of The CED Companies. Culp said The CED Companies is able to rent the brand-new apartments for less because of assistance from the Florida Housing Finance Corporation, or FHFC. To help pay for the $13 million project.

The CED Companies competed for and received $6.72 million in taxexempt bonds and a $1.225 million State Apartment Incentive Loan. The Florida Legislature created the Florida Housing Finance Corporation in 1998 to help finance affordable housing for lower-income Floridians. In order to qualify for FHFC assistance, the developer must follow guidelines governing the number of affordable units offered, as well as rent and income limits.

On Wednesday, Youngblood led a tour of her Stone Harbor apartment, displaying her 4-year-old son's walk-in closet, where little T-shirts and pants barely filled one side. The carpeting and freshly painted walls still exuded the smell of newness. "You can't find anything like this on the beach," she said.

Thursday, October 9, 2014

The results of the auction for condo #401 are no surprise.  The lender bank, in this case HSBC, simply bid $100 more than any other bid.

So HSBC has purchased the property and you can expect it to be turned over to a local realtor and put up for sale, as is, eventually going for about half what was paid for it when it was sold to the first owner.

Case Number: 13000380CA     Case ID: 2594241     End Date: 10/09/2014 12:15:00 PM
  Bidder ID Bidder Name Bid Info Bid Date/Time
  6245 Idania Carpio $37,700.00 09/21/2014 10:58:10 PM
  Bidder ID Bidder Name Bid Info Bid Date/Time
  Opening Bid $0.00 10/09/2014 12:12:01 PM
  Plaintiff Auto Bid $37,800.00
  5957 boldbaatar dorj $45,000.00 10/09/2014 12:13:43 PM
  Plaintiff winning bid $45,100.00
  Auction Closed 10/09/2014 12:15:00:00 PM
The final bid was made by Plaintiff :   HSBC BANK USA N A,
In the total amount of:   $45,100.00

Friday, September 12, 2014

For Sale: A Nautilus Condo

Nautilus Condo        MLS#621909
Property Photo
18912 Front Beach Rd. #301

Panama City Beach

Dosen't look familiar?  

It isn't OUR
Nautilus Condo!utilus Condo, just a similar name
Beds: 2 + den
Baths: 2
Sqft: 1,351

Thursday, August 28, 2014

Misc Developer Info FYI:

Back in October 2008 the developer mortgaged units in 2 of their developments, one being 60 units they then owned at NCC, the amount obtained was $9,981,749.05.  

On 8/27/14 Fifth Third Bank filed a 'Release of Mortgage' with Bay County Clerk.  It is easier to make a bulk sale if there is no pesky mortgage on the property.


See updated Condo Newsletters at:

8/25/14   MORE ON #401

The very checkered history of #401 can be found below.  Only the 1st of 4 pages of the 8/25 filing is shown.  It will go to auction at 11 a.m. Oct 9, 2014.  For more info on this unit just put into the white search bar at the top left '401' and you will get everything ever written about this unit.

Moved up blog from 7/9/13
Condo Assn gets Eviction for #401

NCC temporarily recovers #401 from tenant Tykessia Patrick and daughter, who refuses to pay rent, claiming the unit is in poor repair*.   #401 is one of the units that NCC foreclosed on for the owner (in this case John Thomas) not paying assn. dues. It went to NCC 7/16/12 and was rented to Tykessia Patrick who stopped paying rent. Now the Court has granted a 'Final Judgment of Eviction'.

However, NCC has been filed on by HSCB to recover this unit as they are the first mortgage holder and they will eventually be awarded full title to the unit.  

See more info on 401 at the 2/27/13 post 'HSBC Has filed suit against NCC to recover their unit #401' Direct link:

* From an Email to blog owner from Patrick:  "First of all you don't know shit, my apartment is ragged as hell, sink leaks and my daughter slipped and fell, constant plumbing problem and my air was broken for a month. So Damn right I didn't pay and I'm going to sue."

Tykessia Marie Patrick ID: 5947126
Age: 24
Race: Black
Gender: Female

Also see post of June 25 on evictions, direct link at:

Saturday, August 9, 2014

Who Lives on the Property in 2014

8/8/14 Update:  Owners living on the property as of today remain at 19, or no change from 7 months ago.


Of the 168 units only 20 have Home Owner Exemptions, 1 of these can be discounted as #206 - J Jones has long ago moved away but the County has not yet removed the exemption, so it is reasonable to say that probably only 19 Owners actually live on property (ie:  1 in 8.8 units occupied by owners). 

This is 11.3% Owner Occupied and has dropped from the last time I looked on 9/21/12, when 24 units were Owner Occupied or 14.2% (1 in 7).

Clearly this has gone from being a working condo to an rental apartment complex for 'working' class tenants, AKA "affordable housing" for 149 rental units.  

This is actually exactly what was intended when the complex was built.  

See:  this blog sites post at Monday, 6/21/04 "Nautilus Cove Was Always Meant As Low Income Housing - Not a Condominium" which quotes the 6/21/04 article "Local: Affordable Housing at Beach Grows" or just enter 'affordable housing' in this blogs 'search' bar and you will pick this and other blog posts on the topic.


On again/off again, the NCC 

Developer has tried for years to 

unload their unsold units in a   

bulk sale of 57 units.

As of Aug 5, 2014 NCC was still on the market for a bulk sale of 57 units for 
$6,840,000.  Listing ID #17468613, I see that the listing is now shows as 
'off market', it comes on and goes off, keep checking it will be back on again.

Dean Price at Global Realty Company, L.L.L.P. is the person to contact if you 
have an extra 7 million you want to dump into a down realty market.

This has been reported on several times, you can see it also at
"Pssst - Wanna buy 56 slightly used condosdated 2/4/12.  It seems that 
the complex is just not saleable.  

To see other reports on this issue put 'bulk sale' into the white search bar at 
the top left of the blog site.

Financial Summary - Actual - Year 2013

Scheduled Gross Income  $755,849
Effective Gross Income  $605,284
Operating Expenses  $362,528
Net Operating Income  $242,759
Pre-Tax Cash Flow  $242,759
Price:  $6,840,000
No. Units:  57
Building Size:  75,586 SF
Price/Unit:  $120,000

Take a look at the listing at:

FYI:  2 under used NCC message boards, take a look, post or comment on 
what is there:   and also

Also NCC is reviewed on this site:

Just For the Record:

Who is the Nautilus Cove Developer?

On Feb 13, 2004 Gulf Boulevard Partners Ltd was created and on Dec 14, 2005 the then Gulf Boulevard Partners, Ltd amended their Certificate of Limited Partnership and had a name change to Nautilus Development Partners, LLLP. and on 12/31/09 the name was changed again with an Amended and Restated Certificate of Limited Partnership to SAS Nautilus Cove Managers LLC

A look at the Florida records at brings in several other names.  

All these name changes brings to mind the old Abbott and Costello standup comic routine of "Who is on first" or perhaps the game of trying to find which shell the pea is under.

What is the correct condo name?

It is not: Nautilus Cove Resort or Nautilus Cove Apartments.  The condo name as filed with the Florida Dept of Corporations on 4/12/06, and reflected in the 7 pages of the Articles of Corporation for a Florida Non Profit Corporation states that the condo is called Nautilus Cove Condominium Association, Inc.   The initial slate of Directors named were: Price, Brock and Missigman, all appointed by the Developer.

Is Nautilus Cove a HOA?

No it is not a Home Owners Association (HOA).  NCC is a Condominium Association (CA).

Q)  How many developer units remain unsold?
A)  56 (plus #708 which the developer bought back from an owner and it is now held under the name Nautilus 708, LLC)