Manhattan Club Lawsuit

Good Luck! I used a NY atty who has helped many others at TMC and I am free and clear of TMC…while everyone else is awaiting the Atty Generals outcome which is against the TMC and will have no resolution for owners.

Lunas,

Please give us your attorney's name and contact info.

Bob B.

Can you please share with me the name of your attorney that helped you with this time share.

lunas3 wrote:

Good Luck! I used a NY atty who has helped many others at TMC and I am free and clear of TMC…while everyone else is awaiting the Atty Generals outcome which is against the TMC and will have no resolution for owners.

lunas3 wrote:

Good Luck! I used a NY atty who has helped many others at TMC and I am free and clear of TMC…while everyone else is awaiting the Atty Generals outcome which is against the TMC and will have no resolution for owners.

If you had such success, why don't you share the name of the attorney and process...thank you

Many Manhattan Club owners have asked RedWeek to help them sell or rent their Manhattan Club timeshares. We can help list your timeshare for sale or rent, or refer you to licensed real estate brokers who specialize in timeshare resales. That's our business. We charge nominal fees for a six-month listing (under $60 for a resale, under $30 for a rental listing), but we cannot guarantee that you will find a buyer. Manhattan Club rentals draw a lot of traffic, so consider that as a viable option of maintaining ownership while a renter pays most if not all of your maintenance fees. Resales are difficult --- thanks primarily to the AG's investigation of the club's business practices. As most owners already know, there is no certainty about what will happen to the club or its management, or your ability to secure timely reservations. RedWeek does not charge a commission for helping rent or sell your timeshare. That's our major advantage over private real estate brokers who typically charge a $1,000 commission or more at the end of closing. One thing we highly recommend to all potential sellers. Do not sign on with a company that requires an up front fee --- of $1,000 or more --- to help sell your timeshare. Unfortunately, there are some unscrupulous companies that charge upfront fees for resale services, but then abandon their clients. To check out RedWeek's services, click on the "rent or sell my timeshare" link at the top of this page. We'll be happy to help you post your Manhattan Club weeks for rent or resale.

You do not need an agent, post your week here on redweek in the for sale section, or on tug2.com or any of a bunch of website and when you get a buyer, he/she will forward the paper thru there closing agent TMC, at that time TMC can either use there right of first refusal and pay you the price that the buyer offered, or let the sale move forward, note there are listing on redweek for any ware from $1 to 25,000 so you will be taking a loss, as for the poster below that want $50,000 for his penthouse Suite good luck,( not trying to be funny) I really mean it, as that would bode well for the rest of us, as to why any one would buy TMC at this stage, if you have a family of 4 or 5 and all goes to gather, its not a bad deal , you can't get five people sleeping in any hotel room in NYC for $400 per. night, but just a couple (two people) you are throwing money down the drain

howardb159 wrote:

You do not need an agent, post your week here on redweek in the for sale section, or on tug2.com or any of a bunch of website and when you get a buyer, he/she will forward the paper thru there closing agent TMC, at that time TMC can either use there right of first refusal and pay you the price that the buyer offered, or let the sale move forward, note there are listing on redweek for any ware from $1 to 25,000 so you will be taking a loss, as for the poster below that want $50,000 for his penthouse Suite good luck,( not trying to be funny) I really mean it, as that would bode well for the rest of us, as to why any one would buy TMC at this stage, if you have a family of 4 or 5 and all goes to gather, its not a bad deal , you can't get five people sleeping in any hotel room in NYC for $400 per. night, but just a couple (two people) you are throwing money down the drain

I was under the impression that private sales could not be finalized at this time. Am I wrong?

stephenh262 wrote:

howardb159 wrote:

You do not need an agent, post your week here on redweek in the for sale section, or on tug2.com or any of a bunch of website and when you get a buyer, he/she will forward the paper thru there closing agent TMC, at that time TMC can either use there right of first refusal and pay you the price that the buyer offered, or let the sale move forward, note there are listing on redweek for any ware from $1 to 25,000 so you will be taking a loss, as for the poster below that want $50,000 for his penthouse Suite good luck,( not trying to be funny) I really mean it, as that would bode well for the rest of us, as to why any one would buy TMC at this stage, if you have a family of 4 or 5 and all goes to gather, its not a bad deal , you can't get five people sleeping in any hotel room in NYC for $400 per. night, but just a couple (two people) you are throwing money down the drain

I was under the impression that private sales could not be finalized at this time. Am I wrong?

As far as I understand you can sell your timeshare on the open market, however TMC has first right of refusal and how the investigation with the NYAG plays into that, I don't know....apparently, not at all from the most recent comments.

is it took late to join the lawsuit? i have not been able to use timeshare since i purchased it. ask to sell it back to them and was told, i had to fine a buyer, that not was i was told when i purchased it in 2010.

Yes Howard

As far as my understanding private sales are good to go at this time. TMC cannot buy, sell, or block with first right of refusal, at this time. Private sales as far as I understand, are a go.

fine................private mc sales are "good to go" but who'd purchase under the current legal (both criminal and civil against the mc directors WITH EICHNER IN CHARGE) proceedings? sale of an mc share is now akin to a unicorn......mystical and a dream-like entity. in other words, FUGGEDABOUT IT..........at least until the ag's lawsuit is completed..................AND HE WINS.

lc121 wrote:

As far as my understanding private sales are good to go at this time. TMC cannot buy, sell, or block with first right of refusal, at this time. Private sales as far as I understand, are a go.

jeff_reports wrote:

Many Manhattan Club owners have asked RedWeek to help them sell or rent their Manhattan Club timeshares. We can help list your timeshare for sale or rent, or refer you to licensed real estate brokers who specialize in timeshare resales. That's our business. We charge nominal fees for a six-month listing (under $60 for a resale, under $30 for a rental listing), but we cannot guarantee that you will find a buyer. Manhattan Club rentals draw a lot of traffic, so consider that as a viable option of maintaining ownership while a renter pays most if not all of your maintenance fees. Resales are difficult --- thanks primarily to the AG's investigation of the club's business practices. As most owners already know, there is no certainty about what will happen to the club or its management, or your ability to secure timely reservations. RedWeek does not charge a commission for helping rent or sell your timeshare. That's our major advantage over private real estate brokers who typically charge a $1,000 commission or more at the end of closing. One thing we highly recommend to all potential sellers. Do not sign on with a company that requires an up front fee --- of $1,000 or more --- to help sell your timeshare. Unfortunately, there are some unscrupulous companies that charge upfront fees for resale services, but then abandon their clients. To check out RedWeek's services, click on the "rent or sell my timeshare" link at the top of this page. We'll be happy to help you post your Manhattan Club weeks for rent or resale.

Jeff, thank you for this input...good to know. I do have a suggestion...why doesn't Red Week rename this Blog: The Manhattan Club NYAG's Investigation. It might eliminate the confusion/idea that there is a lawsuit going on, which people keep asking to join.

Unfortunately, we can't change the name... it was set when the original person started the forum 4 years ago. Topics tend to change focus after that much time :)

I just recieved my maintenance bill for $2300. I paid $32,000 (pd in full) for my MCNY timeshare and these fees keep going up every year. My financial situation can't handle the yearly inflation and it seems illegal. What is my best course of action? I'm ready to cut my losses and walk away but I feel stupid for thinking that way.....help.

There is no law suit to join. The Attorney General of NY State has file a suit on behalf of the State...aledging that TMC management broke NYS laws (The Martin Act) and engaged in fraudulent behavior. Go back through some of the postings here to find explanations and opinions about what's going on with this case.

Has anyone here dealt with Time Share Exit Team? I have a phone consultation with them this morning. I am skeptical that anything can be done. I have a further problem in that TMC still holds a mortgage of record against my interest. The time share was paid for in full within 60 days of purchase, but the bastards have not released the mortgage. I have demanded that they do so, and have advised the AG of this part of TMC's practices (I bet they show the paid but unreleased mortgages as assets) but nothing has been done. TMC told me that they were enjoined from releasing the mortgage, to which I replied "You are enjoined from selling interests, not from clearing up title that you are obligated to clear." No response. Any thoughts?

Have any of you folks who have retained Mr. Wasser finding him helpful? From my understanding he is keeping you up do date and dialoging with the AG, but there is no private lawsuit against TMC. Correct?

I too paid off my mortgage immediately in 2002. TMC still shows on ACRIS New York State real estate records I owe the mortgage. They have never asked for a payment but you are correct my mortgage can be listed as an asset by TMC as if it was still money owed to them. They have never released or shown the mortgage as paid in full.

Irene, Deborah

Thank you for pointing this out. I too paid in full when purchased. I never looked at what the status was on the mortgage. I received the deed and left it at that.

I can look it up on ACRIS by purchase date unit #?

I would like to see what the status is on my unit. Should I contact AG or Judge if this is relevant information?

Thanks again, Vanessa