NCC still on the market for a

#1208 is again subject to an eviction.
  
This time around Lynette Waters and Clay Corbitt are getting the boot.  

In Jan. 2012 it was Kerry Franklin and Marlo Hamilton.  Is that unit jinxed or perhaps Concord will just rent to anyone?

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NCC still on the market for a 

bulk sale of 57 units.

As of Aug. 4, 2014 NCC was still on the market for a bulk sale of 57 units for $6,840,000.  Listing ID #17468613

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 condos" dated 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:  
http://www.loopnet.com/xNet/MainSite/Listing/Profile/profile.aspx?STID=&LL=&LID=17468613&PgCxtGuid=84edc7c6-90d9-4723-9e98-38e25ef960b7&PgCxtFLKey=Profile&PgCxtCurFLKey=Profile&PgCxtDir=Up&EBrokerSent=Y&MessageSent=1

FYI:  2 under used NCC message boards, take a look, post or comment on what is there:  http://nautiluscove.proboards.com/index.cgi   and also http://pub40.bravenet.com/forum/static/show.php?usernum=3420323947&frmid=702&cmd=showrecent&cp=0

Also NCC is reviewed on this site:  http://tinyurl.com/4jr6389

Another Nautilus Condo?!

Most people know that we have a 'sister community' called Stone Harbor at 501 Alf Coleman Rd (2 miles away)  see:  http://stoneharborsucks.blogspot.com/.  It is an earlier downmarket version of Nautilus Cove also here in PCB.  It was built before NCC by the same developer, looks exactly like NCC and is mis-managed by the same firm (Concord) that mis-manages NCC.

But did you know that we also share the name Nautilus with the 9 unit Nautilus Condominium located here on the Beach?  Built in 1986 and currently having their Unit #301 available for $218,234 MLS# 621909.  

Feature Property

18912 Front Beach Rd. #301 Panama City Beach $218,234 Beds: 2 + den Baths:2 Sqft: 1,351 2 Story Built: 1986 Gulf Views

The Georgekopoulos' at Nautilus Cove

July 7 update, additional Georgekopoulos units have come onto the market, as of tday:

$131,900 106 Cape Cod Dr MLS #: 621802
$124,900 1601 Cape Cod Dr MLS #: 621800
$116,600 306 Lighthouse Rd MLS #: 620922
$111,500 513 Lighthouse Rd MLS #: 621809

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The convoluted history of the Georgekopoulos purchases here at NCC is too long to do more than bump up the site an older post and update the info that the below 2 units are now back on the market as of 7/2/14


MLS#:  621800  #1601 CAPE COD DR THEODORE P GEORGEKOPOULOS  List Price:  $120,900

MLS#:  621802 #106 CAPE COD DR  THEODORE GEORGEKOPOULOS  List Price:  $131,900


If you want more info you can input the name GEORGEKOPOULOS into the sites white search bar at the top right of this site and it will bring up all references to that name.

Misc Info FYI:  In a May 15, 2014 ruling the Court of Appeals of Ohio, EIGHTH APPELLATE DISTRICT, COUNTY OF CUYAHOGA, reversed the earlier convictions of George Georgekopoulos, Pete Georgekopoulos, see:  http://www.supremecourt.ohio.gov/rod/docs/pdf/8/2014/2014-ohio-2049.pdf

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#1601 was sold 2/28/13 for $71,500 to Theodore Georgekopoulos. This unit is a 3/2 and was originally purchased by Joshua Simmons 2/5/07 for $169,900.  The current sale price is 43% of the original 2007 price.  Other than foreclosure sales the only other unit recorded as selling so far in 2013 was #708 (a 3/2) for $93,000 to the condo developer (at 56% of Original sale price), regular readers will be familiar with why the relatively high price was paid for #708.

The Georgekopoulos' own various other Bay County properties and at least one condo in Palm Harbor, Pinellas County, Florida, there Theodore Georgekopulos owns a condo he  purchased 6/1/05 for $191,600 from Palm Harbor Development, LLC.
The Georgekopoulos' now own 6 units at NCC under 2 personal names (George and Theodore) and one company name (Elite Enterprises - George Georgekopulos). The brothers George G and Pete G were in the news in Ohio last year for various gambling arrests, for details see: http://georgekopoulos.blogspot.com/  Last summer, shortly after the Ohio arrests, the 5 NCC units were all put up for sale, however, the prices were unrealistically high, none sold and now all have been removed from the Realtor's inventories.
Bay County Properties are:

1601 LIGHTHOUSE RD, NAUTILUS COVE CONDO
502 LIGHTHOUSE RD, NAUTILUS COVE CONDO
106 CAPE COD DR, NAUTILUS COVE CONDO
205 CAPE COD DR, NAUTILUS COVE CONDO
210 CAPE COD DR, NAUTILUS COVE CONDO
513 LIGHTHOUSE RD, NAUTILUS COVE CONDO
   (purchased under the name 'Elite Entertainment')
301 NAUTILUS ST, SEACLUSION BEACH
1505 FOSTER AVE, PANAMA CITY
17545 FRONT BEACH RD, 2305 EMERALD ISLE CONDO
308 KENTUCKY AVE, LYNN HAVEN
401 MISSOURI AVE, LYNN HAVEN

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Misc Info FYI:  

In a May 15, 2014 ruling the Court of Appeals of Ohio, EIGHTH APPELLATE DISTRICT, COUNTY OF CUYAHOGA, reversed the earlier convictions of George Georgekopoulos, and Pete Georgekopoulos.

 see:  http://www.supremecourt.ohio.gov/rod/docs/pdf/8/2014/2014-ohio-2049.pdf