Businessman spends $1 million in Lauderdale-by-the-Sea

Paul W. Noblett bought a three-bedroom, 2.5 bath condo at 1800 S. Ocean Blvd. in Lauderdale-by-the-Sea for $1 million from Domenico Seddio and his wife, Marianne, on April 28.

The Seddios paid $705,000 for Unit #1105 in Feb. 2007. There are 176 units in the Hampton Beach Club development, which was built in 2000.

Noblett is the founder of N&A Consulting, a business development, data processing and communications consultancy in Fort Lauderdale. He founded the company in 1994.

He is also a shareholder and a member of the board of directors at Electrum Corporation, a bankcard and electronic payment company in Columbia, S.C. He has previously served as the executive vice president of sales, customer service and operations at NABANCO, another electronic bankcard processing company, which is now known as First Data Merchant Services. Prior to NABANCO, he was the senior vice president and general manager of MasterCard International.

Condo sales in Lauderdale-by-the-sea dropped 14 percent in 2007. Median sale price also dropped $48,000 last year, from $410,000 in 2006 to $362,000 in 2007.

Condo sales in Hampton Beach Club increased 166 percent in 2007. The median sale price, however, dropped $136,000 last year, from $705,000 in 2006 to $569,000 in 2007.

Address: 1800 S Ocean Boulevard, #1105
Buyer(s): Paul W Noblett
Seller(s): Domenico Seddio and Marianne Seddio
Sale date: 2008-04-28

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