Grand Lake Condominium Development Going to Auction

Aug 02, 2011, 14:55 ET from National Commercial Auctioneers

TULSA, Okla., Aug. 2, 2011 /PRNewswire/ -- National Commercial Auctioneers ( announces a real estate auction to sell a 15-unit bank owned condominium development on 8.7 acres with 31 boat slips on Grand Lake, on September 8, 2011, at 11am, according to Stephen Karbelk, CAI, AARE, CEO & Founder.

"This is an extremely rare residential development opportunity for an experienced builder, developer or investor to buy the Crown Pointe development on Monkey Island," said Karbelk. "With its amazing water views and hundreds of feet of shoreline, this property is one of the last remaining gems on Grand Lake."

Located at Independence Drive and Grand Lake Road, Port Duncan on Monkey Island, Crown Pointe Condominiums is in an established residence community sought after by locals and visitors.

The units range in size from 1,600 sq. ft. to 3,200 sq. ft. in the existing building, ideal for selling new units or rental. The slab for the second building is laid.

"This project offers experienced contractors, builders or developers the significant upside of finishing a quality condominium building while having the opportunity of adding additional buildings," commented Brent Wellings, Auction Project Manager for National Commercial Auctioneers.

The property is across from the Port Duncan Marina on Monkey Island and has 31 boat slips. Monkey Island has seen revitalization in the last 15 months with the purchase and redevelopment of the 36-hold Shangri-La golf course, new multi-million dollar clubhouse and the marina.

"Monkey Island has some of the best restaurants on the lake and the airport is less than five minutes away from the property," Wellings noted.

Inspections are scheduled for August 25 and September 1st, from 11am to 3pm. Broker participation is offered and encouraged. For more details on how to receive property information packages and inspect properties, visit or call toll free at (877) 895-7077.  

National Commercial Auctioneers is a nationwide auction company that specializes in commercial sales for banks, special servicers, receivers, Trustee's and bankruptcy courts.

SOURCE National Commercial Auctioneers