PLEASE SEE The owners website www.tmcowners.com
Timeshare in NYC is in a very appealing area, etc but the current market value is $0 and we owners cannot make reservations!
Instead, the all powerful management rents out the rooms on hotel sites everywhere and is currently in a big push TO SELL MORE UNITS!
Unfortunately, the NYS Attorney Generals Office has not aided in helping us and defers to management responses to complaints. As per several persons in management, "We have all our t's crossed and i's dotted so we aren't afraid of you (owners)."
Do not buy there... instead look at website provided.
The infamous developer, Ian Bruce Eichner, started The Manhattan Club as the first Timeshare in NYC. Since NYS had no regulations for timeshares, he brought up several Florida attorneys to advise on how the law/regulations are written!
The contract is over 800 pages long and includes signing over owners rights in a well disguised Power of Attorney!
This is one of the most sophisticated scams that pays Mr. Eichner 20% off the top of our Outrageously Expensive Yearly Maintenance Fees - buy the way, these are collected whenever they feel like billing. The Timeshare Owner Board Members are handpicked and refer all complaints back to management.
An investment as they say? Not. Cheaper to book hotel rooms elsewhere.
Don't be fooled! Buyer beware!
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