Time-Share Unit Owners' Lawyer Praises $6.5 Million AG Settlement
A lawyer for a group of shareowners in the Midtown hotel the Manhattan Club said clients are awaiting news of restitution from the settlement after a yearslong investigation.
August 18, 2017 at 04:02 PM
3 minute read
A yearslong investigation into a time-share operation accused of misleading buyers came to a close this week with Attorney General Eric Schneiderman announcing a record $6.5 million settlement with the Manhattan Club.
Douglas Wasser, a real-estate attorney at Wasser Russ who represents a group of 33 Manhattan Club unit owners, said he was anxious to see who would be eligible for the restitution fund. The 200 W. 56th St. hotel had roughly 14,000 unit owners, according to the attorney general's office.
“I think the attorney general has done a fabulous job on this whole thing,” Wasser said, adding that the settlement requirement forcing the owner and operators of the Manhattan Club to relinquish control would “restore confidence” in the time-share project.
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