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Re: Manhattan Club Lawsuit

Years ago, when the maintenance fees first skyrocketed, I wrote to the city agency that regulated condominiums. I suggested that the developer was trying to drive out early owners who could no longer afford the unfair fees. Either by foreclosure or buying back the deed for pennies, the developer would profit unfairly at the former owners' expense. I received no reply from that agency other than a file number. At that time. the TMC management explained that the jump in fees was because the developer had been subsidizing those maintenance fees and was no longer doing so. We now know that was a lie; that those fees were going to a management company with no employees, a company controlled by the Eichners. The developer could be benefiting from foreclosures and cheap buy- backs in other ways, Did the Manhattan Club over-sell? Problem solved. Can the Eichner family be obtaining, at favorable prices, additional units for the nightly rental market, units withheld from the reservation system available to us, the timeshare owners? Who knows? All we can hope is that the AG's office has thorough investigators.