NEW YORK (Legal Newsline) — New York Attorney General Eric T. Schneiderman announced Aug. 16 that the owners and operators of the Manhattan Club, a timeshare building in Manhattan, will pay $6.5 million to resolve allegations of making false promises to current share owners.
According to allegations, the defendants repeatedly misled shareowners about the club’s reservation process, shareowner ability to sell shares, and the club’s state-approved offering plan.
“The owners of the Manhattan Club lured thousands of timeshare buyers with false promises and shady sales tactics that violated New York law,” Schneiderman said. “While timeshares can be legitimate enterprises, scams like this one are common. To avoid becoming a victim, always be wary of high pressure sales tactics.”
The owners and operators in the case are T. Park Central LLC, O. Park Central LLC, Park Central Management, LLC, Ian Bruce Eichner, Leslie H. Eichner, Stuart P. Eichner, Scott L. Lager, Hospitality Advisors LLC, New York Urban Ownership Management LLC, and Manhattan Club Marketing Group LLC.
This case was primarily handled by Louis M. Solomon, chief of enforcement in the Real Estate Finance Bureau, with assistance from assistant attorneys general Nicholas Minella and Kimberly Ver Ploeg in the real estate bureau.