Here on our Time to Share blog, we talk a lot about scammers that try to capitalize on the timeshare industry. Usually these con artists are working out of abandoned buildings or home offices, but recently a new kind of scammer has emerged. Developer Ian Bruce Eichner has been bared from selling any more timeshares at his luxurious Manhattan Club in midtown Manhattan due to a court order. Attorney General Eric Schneiderman is heading the law suite and investigation against Eichner.
You may recognize Eichner’s work if you’ve ever been to Las Vegas. After building the Cosmopolitan hotel Eichner moved to NYC to create another swank space for tourists to stay. The Manhattan Club has always had a reputation as an upscale hotel featuring classy condos and a state of the art fitness room. However, allegations have come up against Eichner for overselling timeshares, making it impossible for owners to reserve their stay.
According to a press release by Schneiderman, The Manhattan Club’s 286 units have been divided between 14,000 owners. And although purchasers were informed the hotel is timeshare-only, their reservation requests have been denied while rooms were sold for hundreds of dollars a night online.
After hundreds of owners appealed to Schneiderman, he agreed to take on the case, calling it a “bait-and-switch scheme.” Eichner awaits trial in August where he will confront the allegations Schneiderman and hundreds of owners have brought to light.
While this case is unfortunate for the timeshare owners at The Manhattan Club, it does not mean that all New York timeshares are bad. The Hilton Club New York is a great in-city option. Or if you’re looking for a New York getaway, the Ocean Watch Beach Club has all of the luxuries you could ask for. If you have a New York timeshare you’d like to sell, list it for FREE on our website and contact an agent today!