Sunday, September 28, 2014

Nautilus Cove Condo 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'.  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.  I owned there from May 2007 until Jan 2013.  The property was so badly managed that I engaged in a long running civil suit against the condo and a property firm to correct how units were rented.  The suit dragged on for years and was finally settled with various changes in the rentals of units and I got my attorney fees and filing fees paid for by the condo.  Problems remain today regarding several issues but I sold my unit back to the developer and now it is some one elses problem.


For additional details you can take a look at the below site and at the top right of this site are direct click on links to many other blogs about Nautilus Cove, Concord and other area sites:
http://nautiluscondosrules.blogspot.com


FYI here are a few of them:

Declaration of Condo:  http://nautiluscovedeclarationofcondo.blogspot.com/
By-Laws of NCC - http://tinyurl.com/37vbqkz
NCC Articles of Incorporation - http://tinyurl.com/34wp8pj
Rules and Regulations - http://tinyurl.com/39lbjwl
New 10/4/10 Condo Management Agreement - http://tinyurl.com/39sy3cy 
Old Condominium Management Agreement - http://tinyurl.com/3x8963n
Budgets of 2012, 2012 Balance Sheet of 10/2010 -  http://tinyurl.com/2d4oh4j 
6 NCC Newsletters:  http://nautiluscondosrules.blogspot.com/2011/09/blog-post.html

There is also an under used message board for NCC found at: http://nautiluscove.proboards.com/index.cgi  

1 comment:

  1. Hello, do you have some photos of the 2-story buildings?
    I've seen a couple of pictures of the condo's interiors and they look very good. I wonder what the view from the outside looks like. I've looked around Ft. Lauderdale recently and visited some condos of other real estate agencies including riva-condo but will be pleased to see more pictures from your objects too.

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