The operators of a luxury timeshare building in midtown Manhattan have agreed to pay $6.5 million for misleading customers. The owners and operators of the Manhattan Club reached a $6.5 million settlement with Attorney General Eric Schneiderman’s office over allegations that the company misled purchasers about their ability to reserve rooms and resell shares.
Under the terms of the settlement—the largest in the recent history of the Real Estate Finance Bureau—the operators of the Manhattan Club acknowledged that it “repeatedly misled shareowners about the club’s reservation process, their ability to sell back their shares, and the details of the club’s state-approved offering plan,” according to Schneiderman’s office.
