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Bluegreen to buy Manhattan Club assets (by Nathan Z.):

Thank you, Jeff. This should be good news! Something is happening! However, my understanding is that this is a just a press release. An agreement has been finalized, but a closing has yet to take place. BG plans to acquire remaining unsold inventory but the management won’t transfer until 2021, so Eichner is still in on it. I note that 2021 is more than 3 years from the settlement date, but I suspect the administrator won’t want to jeopardize the deal over a few more months. I don’t think there was a line of buyers waiting. I do expect to receive some kind of formal notification from the administrator or from BG regarding their acquisition. On the other hand, very little involving the MC ever transpired in what I consider normal business practice. But this is progress.