Commodores Retreat

**Babyblue** · 03-13-2009, 05:29 PM

Does anyone know hat happened at Commodores Retreat? I live across the street from it and have watch the remodeling of the building. New decks, new exterior etc. Well today all of the construction equipment was removed and the building stands empty wrapped in tyvek.

**AAbsolute** · 03-13-2009, 08:11 PM

Originally Posted by Babyblue

Does anyone know hat happened at Commodores Retreat? I live across the street from it and have watch the remodeling of the building. New decks, new exterior etc. Well today all of the construction equipment was removed and the building stands empty wrapped in tyvek.

Which one is that? I keep track of them by the contractor.

**tsutcli** · 03-13-2009, 08:54 PM

On the beach below ResortQuest. Near Leeward Condos

**Franny** · 03-14-2009, 08:44 AM

Wow, that does not sound good. I was over there a week ago and they were still working.

**Lynnie** · 03-14-2009, 09:14 AM

I thinks I know.

I know a few people who own there.....it's a mess and very unfortunate!

Large assessments after multiple hurricanes causing discreet damage, evidently. Bldg. needed a loan to complete repairs, market (lending) tanked and can't get financing. It's an awful situation! There are some rumblings of foreclosures from individual owners there as well. This will domino for that building.

I stayed there with Sweet Pea when I was down looking for my cottage and it's a great place (location, etc.). I hope they can get back on their feet soon. Babyblue, I've been emailed pics and it's an eyesore, definitely. I hope all of you on that charming street are fairing well!

Cheers and hang in there~~~~~~

**Babyblue** · 03-15-2009, 05:48 PM

Thanks for the info. Do you know who the contractor was? I just notice that when they were taking the equipment out they tore up my curb in front of my house.

**Lynnie** · 03-15-2009, 06:52 PM

Originally Posted by Babyblue

Thanks for the info. Do you know who the contractor was? I just notice that when they were taking the equipment out they tore up my curb in front of my house.

Yikes, no I don't know. But, check with the permit office. Good luck!!

**AAbsolute** · 03-15-2009, 07:03 PM

Originally Posted by Babyblue

Thanks for the info. Do you know who the contractor was? I just notice that when they were taking the equipment out they tore up my curb in front of my house.

Here's the NOC

**Lynnie** · 03-15-2009, 07:36 PM

Originally Posted by AAbsolute

Here's the NOC

Wow, that was fast. GC has metro Atlanta tel. exchange. Just FYI!

**Babyblue** · 03-16-2009, 01:36 PM

Originally Posted by AAbsolute

Here's the NOC

Thanks for the help. I just got off the phone with them. Nice folks. Sounds like C/R is sunk.

**Wekick** · 08-11-2009, 08:14 PM

Has anyone heard anymore about Commodore's Retreat? Were they able to resume renovations?

**Lynnie** · 08-11-2009, 08:25 PM

They got a loan, but I don't know the details. What is its present condition? Still the same?

**Lake View Too** · 08-11-2009, 08:33 PM

Nothing's been happening there for months. I heard that some of the owners could not raise the additional $50,000 per owner assessment fee it would take to finish it. ??

**Lynnie** · 08-11-2009, 08:42 PM

Originally Posted by Lake View Too

Nothing's been happening there for months. I heard that some of the owners could not raise the additional $50,000 per owner assessment fee it would take to finish it. ??

They were assessed $50K/unit. Some paid, some didn't, some paid partial and realized the lending situation, so tabled paying more.

What a mess! They have to pay their notes, dues, taxes, ins........and no place to rest their heads! I feel badly for them. Because they have condo docs, the foreclosures are really going to hurt if and when they do rebuild.

Three years ago, it would have been a prime situation for a developer to buy and demolish. Tough times out there!

**Lake View Too** · 08-11-2009, 08:47 PM

Is the situation that some of the owwners are solvent and some aren't? In seems that condo associations in general are going to get increasingly risky.

**Lynnie** · 08-11-2009, 08:54 PM

Originally Posted by Lake View Too

Is the situation that some of the owwners are solvent and some aren't? In seems that condo associations in general are going to get increasingly risky.

Well, I would guess this along with some holding back their funds due to the situation.

So, based upon the building and the owners, would you put up $50K if the building wasn't able to secure funding/rebuilding? Tough decisions for all of them, I'm certain.

And, the lenders - OMG! They don't want to own that......who's in first position?

That would go by date of filing, but it's a colossal, ginormous mess. However, not all of them can own the dirt - isn't it four stories?

Bless their hearts! I really do wish I had a majic wand to fix this economy and edumacate some people, too!

**Lake View Too** · 08-11-2009, 08:57 PM

I live right near there. It's an eyesore that will never go away until some heavy hitter buys everybody out. Don't know how many units, but I think it is three stories above a parking area.

**SWGB** · 08-11-2009, 09:04 PM

The $50,000 would be an assessment against every owner. If they don't pay it the association can put a lean on their "property" and if unpaid they can be foreclosed and forced to auction.

This is one of the downsides of condo ownership.

**Lake View Too** · 08-11-2009, 09:07 PM

What good would it do the association to file lien? Nobody would win at all if it went to foreclosure.

**Lynnie** · 08-11-2009, 09:30 PM

Originally Posted by SWGB

The $50,000 would be an assessment against every owner. If they don't pay it the association can put a lean on their "property" and if unpaid they can be foreclosed and forced to auction.

This is one of the downsides of condo ownership.

This building is missing the entire south wall/facade. As LVT mentions, filing a lien is useless on this one. I think it was close to being condemned, but the owners got it out of that. What would have happened if it had been condemned? Would insurance have covered notes and everyone walked away?

Originally Posted by Lake View Too

What good would it do the association to file lien? Nobody would win at all if it went to foreclosure.

Funn parties there, though! Funn, funn, funn!

**SWGB** · 08-11-2009, 10:31 PM

I didn't says the lien/foreclosure process would work, just the way it's done in these situations. If someone can pick up a "unit" on the cheap and come up with $50,000 then that process works.

Lynnie, I've heard of associations just taking the settlement and walking away or selling the property. The thing is that most condo docs require them to rebuild. It would take a 2/3rd's majority to walk away with the money.

The other thing to consider is when the condo was built. I forget the actual date, but prior to the current Florida condo laws the entire unit was insured by the association. In other words in the event of total loss the association had to put the condo back to the original state minus personal belongings and furnishings. Current law requires they only return the condo to it's original state up to the dry wall. Finishes, cabinets, and fixtures are the responsibility of the condo owner.

**Wekick** · 08-12-2009, 12:26 PM

That's a shame. I hope they can get it all fixed.

**Lake View Too** · 08-12-2009, 02:01 PM

I'm not following this . What settlement are you speaking of? My understanding, albeit, just talk (I'm not sure where I heard it) is that the owners were assessed $50,000 each for reroofing and rebuilding of all decks (for the second time). It looks like doors and windows were being replaced.I have no knowledge of insurance money being involved, but that could be true.

**SWGB** · 08-12-2009, 02:55 PM

Originally Posted by Lake View Too

I'm not following this . What settlement are you speaking of? My understanding, albeit, just talk (I'm not sure where I heard it) is that the owners were assessed $50,000 each for reroofing and rebuilding of all decks (for the second time). It looks like doors and windows were being replaced.I have no knowledge of insurance money being involved, but that could be true.

Ah, I thought this was repair of hurricane damage which would fall under insurance. I assumed the assessment was the deductible.

**Lynnie** · 08-12-2009, 04:22 PM

Originally Posted by Lake View Too

I'm not following this . What settlement are you speaking of? My understanding, albeit, just talk (I'm not sure where I heard it) is that the owners were assessed $50,000 each for reroofing and rebuilding of all decks (for the second time). It looks like doors and windows were being replaced.I have no knowledge of insurance money being involved, but that could be true.

Originally Posted by SWGB

Ah, I thought this was repair of hurricane damage which would fall under insurance. I assumed the assessment was the deductible.

Not sure either, but there was damage from one hurricane and this evidently didn't appear for several months. This did have something to do with the south facing doors. I think the assessments were a separate issue.

But, $50K/unit on that bldg.? Seems steep to me and it might have been assessed due to decline on insurance paying out, being under insured or not filing the claim timely.

It's a mess!

**Lake View Too** · 08-13-2009, 11:53 AM

Lynnie, can you tell me more about the loan that Commodore's HOA received, and when? I talked with a lawyer friend of mine today and he said that when a bank forecloses on a condo, they get clear tiltle on it regardless of any liens by the HOA. The bank's lien is superior, and the HOA is left holding worthless paper. This was his assessment of that particular situation, but again, may not be written in stone.

**SWGB** · 08-13-2009, 03:30 PM

Originally Posted by Lake View Too

Lynnie, can you tell me more about the loan that Commodore's HOA received, and when? I talked with a lawyer friend of mine today and he said that when a bank forecloses on a condo, they get clear tiltle on it regardless of any liens by the HOA. The bank's lien is superior, and the HOA is left holding worthless paper. This was his assessment of that particular situation, but again, may not be written in stone.

I'd ask to see a valid bar license.

If the lien is filed prior to lis pen then it should continue to be valid.

**Lynnie** · 08-13-2009, 03:35 PM

Originally Posted by Lake View Too

Lynnie, can you tell me more about the loan that Commodore's HOA received, and when? I talked with a lawyer friend of mine today and he said that when a bank forecloses on a condo, they get clear tiltle on it regardless of any liens by the HOA. The bank's lien is superior, and the HOA is left holding worthless paper. This was his assessment of that particular situation, but again, may not be written in stone.

I don't know anything more. I got info. from a good friend who is an owner there. In this lending environment (on a bldg. like that with foreclosures), it wouldn't surprise me if the loan didn't close. If there was a loan, you could find it in superior court records, though.

**Lake View Too** · 08-13-2009, 03:41 PM

I'm mostly just curious, but the questions about HOA dues/liens/foreclosures have more far-reaching implications. Do we allow lawyers on SoWal, or are all of us "counselors" in our own peculiar ways? Somebody chime in with the Truth...

**Wekick** · 10-04-2009, 08:24 PM

We were in Seagrove in early September. Stayed at Beachcrest. Were wondering if there has been any additional progress at Commodores Retreat adjacent to Eastern Lake. We have many memories there and hate to see it in a state of paralysis. Any Info welcomed.
Thanks!

**TreeFrog** · 10-05-2009, 07:30 AM

Originally Posted by Wekick

We were in Seagrove in early September. Stayed at Beachcrest. Were wondering if there has been any additional progress at Commodores Retreat adjacent to Eastern Lake. We have many memories there and hate to see it in a state of paralysis. Any Info welcomed.
Thanks!

Sorry to disappoint you. The work at CR seems to still be on dead stop. I haven't seen a live person there in months.

CR used to be jam up in the summer and also had a goodly crowd of snowbird in the winter. I'm sure a lot of folks miss it, but the situation described in this thread sounds grim and doesn't appear to have been resolved.

**gardening1970** · 09-15-2010, 08:44 AM

I see there is a top floor unit listed for sale at $60,000 - with clear disclosure that the unit is not habitable and a special assessment is expected. Looks like it is Wells Fargo REO per the tax records.

Any hope that this building will be habitable anytime soon? Appears to be a bad situation for all concerned.

**UofL** · 09-15-2010, 11:56 AM

We drive by each time we are down there. The last time was July 4th week. Feel badly for people who had money invested in it.
We stayed there two or three times in the early 2000's. Great spot by Eastern Lake.
Would have recommended the place to anyone - we had one of the smaller units. 1 bedroom with a bunkbed in the hallway which was fine when we took one grandson. He loved having the pool. I don't know if they still build the bunkbed reset into the hallway anymore. Would only be good for young families.

**gardening1970** · 09-15-2010, 12:40 PM

I've stayed next door at Eastern Shores several times. Such a terrific location. I'm sure the neighbors would love to see some progress almost as much as the owners.

**Lynnie** · 09-15-2010, 12:59 PM

I thought I saw scaffolding there this past weekend, but it could have been a different bldg.; I was looking from the beach and could have been confused. I believe a lot of the owners have chaulked this one up to losses.

**robertsondavies** · 09-16-2010, 08:55 PM

so what do units owe apiece? Do they all each owe $50K in arrears? or do they owe $50 so far, for the unfinished work, plus some other amount to finish?

**studioagirl** · 09-21-2010, 08:32 PM

this is a good question. i've been watching for a reply, but none yet. i wonder exactly what it would take to resolve the issue and save the building, besides an individual with enough money to clear everyone out. obviously that's not happening anyway.

**Franny** · 09-22-2010, 01:08 PM

Originally Posted by gardening1970

I see there is a top floor unit listed for sale at $60,000 - with clear disclosure that the unit is not habitable and a special assessment is expected. Looks like it is Wells Fargo REO per the tax records.

that this building will be habitable anytime soon? Appears to be a bad situation for all concerned.

That unit is under contract.

Originally Posted by robertsondavies

so what do units owe apiece? Do they all each owe $50K in arrears? or do they owe $50 so far, for the unfinished work, plus some other amount to finish?

Waiting for a phone call for answers regarding the assessments and will let you know soon.

**Franny** · 09-22-2010, 01:19 PM

The only information I can get at this point is each homeowner is being assessed $650 per month. No one knows how long this will last and not everyone is paying. Also, a group of owners are trying to obtain financing to complete the building. Will let you know more as soon as something knew comes up.

**studioagirl** · 09-29-2010, 09:23 AM

so homeowners are still paying their normal hoa? hope none of them relied on rental income. what a mess.

**SWGB** · 09-30-2010, 05:22 PM

Originally Posted by studioagirl

so homeowners are still paying their normal hoa? hope none of them relied on rental income. what a mess.

Property taxes are still due so it kind of makes sense.

**SWGB** · 09-30-2010, 05:23 PM

Originally Posted by robertsondavies

so what do units owe apiece? Do they all each owe $50K in arrears? or do they owe $50 so far, for the unfinished work, plus some other amount to finish?

Generally older condos like that are assessed equally. Only recently did developers wake up and realize that perhaps someone with a studio should be paying less than the 4 bedroom penthouse. It's listed in the condo docs and requires a 2/3 majority to change.

**SWGB** · 09-30-2010, 05:24 PM

Originally Posted by UofL

We drive by each time we are down there. The last time was July 4th week. Feel badly for people who had money invested in it.
We stayed there two or three times in the early 2000's. Great spot by Eastern Lake.
Would have recommended the place to anyone - we had one of the smaller units. 1 bedroom with a bunkbed in the hallway which was fine when we took one grandson. He loved having the pool. I don't know if they still build the bunkbed reset into the hallway anymore. Would only be good for young families.

Generally when rebuilding a condo it must be built back to the original design with wiggle room for code issues.

**cbrooks** · 05-15-2011, 11:08 AM

Does anyone know the latest on this place? My wife and I throughly enjoyed staying here for the location, condo size and that it had a small pool. We haven't been able to find a place that we liked as well as CR since it closed. We did stay at a place just up the beach from there and took some pics of CR from Sept 2010 trip.

If anyone knows of a place similar to this w/pool in around Seagrove Beach. Please let me know. Thanks!!

**Wekick** · 03-13-2012, 01:55 PM

Any news on Commodore's Retreat?

**Lake View Too** · 03-13-2012, 04:29 PM

I heard just yesterday that the log jam of progress on Commodore's has been cleared. The contractor who had done earlier work has reached a settlement with the homeowners, and that it will be rebuilt in the near future.

**Wekick** · 03-13-2012, 05:48 PM

Thanks! You have made my day!

**Babyblue** · 05-17-2012, 03:38 PM

There is a top floor unit with the door open for a few days now. The racoons have been going in and out at night in the unit. If anyone knows who to call pass this on.