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Re: Manhattan Club Lawsuit

Gail, I do not need to be schooled on the difference between a developer/sponsor, owners association and management company. Except for small condo associations, almost all contract with outside managers to run the operations of the condominium. Regarding timeshares, almost all use outside managers. The problem at the MC is that the sponsor controls the board, which governs the association, which contracts the management. So all three entities are composed of the same people wearing different hats. In addition, the Manhattan Club is a complex enterprise which will always require a sales function as well as a short term rental component for association owned time or owner time in default. In aggregate we are the Manhattan Club, but like most people here, I use "MC" to refer to the group in control. As far as releasing the owner list, just because you can access owner records at the registry of deeds does not obligate the association to do likewise. The MC Owners Association is a private entity. I don't believe it is subject to open records laws. The same records which are public at the registry are private in the hands of the association. But you're the attorney. The judge seems to agree with the MC on that point so far and has only granted JMZ a mailing, not possession of the list. Gail, I don't claim to be an attorney. However in my life experience both sides - win or lose -are represented by attorneys. So far, the MC has done well in the courts. The only place our interests have prevailed at all has been in the AG's settlement, which is still in the process of being played out. I can understand why a developer and attorney must be especially galled to be caught up in an unpleasant situation like this. I don't brag about it either. But even if someone offered to buy the building for $30 million, that would amount to about $2000 per week for 300 units. If you think $10,000 is an equitable settlement, that's $150 million. Anybody think its worth $150 million? And given the Siamese nature of the MC building and the Park Central Hotel, who would buy the MC building without an agreement in place for the Park Central? (Besides Eichner, that is) So instead of engaging with all this Pollyanna talk about how justice will prevail and everyone made whole, what is a good realistic outcome? Maintenance fees are not dropping. This is 2019, not the 1980's or 90's or whenever folks bought in. Compare costs at the MC to the Wyndham, the Phillips Club or any other timeshare in NYC. What exit strategies need to be in place for those who want out, and what governance, budget and reservation structure needs to be implemented for those who stay?. Doing this does not depend on the sponsor or the management company for permission, only on the owners association. I'm sure it will require a vote by all owners - and probably a law firm to redraft the by-laws. As a developer, these ideas should appeal to you. But they will require more work from many owners than the current endless venting, calls for "retribution", continuously accusing others of being plants, etc., etc.