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Re: Manhattan Club Lawsuit (by Becky F):

William465,

Think about this..TMC has been operating in deficit for MANY, MANY years which was not a result of owners not paying their maintenance fees. Look back through your annual reports from TMC to confirm this fact. Now, why would TMC be in deficit to the tune of $5M or more year after year? Maybe it had something to do with the MILLIONS that Eichner et al was skimming off the HO Association to pay his shell company to quote “maintain the TMC”. The shell company had ZERO employees and yet the TMC had to pay for maid service, registration staff, concierge services, monthly utilities, etc. Where do you think the money came from to pay for this? The HO Association could not possibly pay these expenses AND PAY EICHNER ET AL THE $6.5M a year he was getting and stay viable. The money from the transient customers will never EVER catch up to the deficit. I don’t care if TMC rented the rooms out for $300/night. Basically, by owners continuing to pay the maintenance fees, you are helping a HOTEL pay their bills without the benefit of the money going into the HO Association fund so The HO Association will never get out of deficit. In order to do that THERE NEEDS TO BE ANOTHER SCAM TO COVER THE LOSSES. And the new scam is to give back your unit so TMC/BLUEGREEN can sell your unit for thousands and thousands of dollars. And you’ll come out with a whopping $100 if you ever get your check. TMC is going down. Save your money and go to a nice hotel that doesn’t cost you $2,000-$3500 a year whether you stay there or not.

williamm465 wrote:

Don't misunderstand me. Of course we got ripped off, and hopefully we will get some relief. But is it in our best interest to have units remain empty? The number of empty units is caused in part by people not paying their maintenance fees, exorbitant as they are. Is it possible to determine where the hotel rental dollars go?

sidneyf6 wrote:

wow $148 /night for jr suite and 160/ metro suite.... for under $1000 for 7 nights what a deal!!!!!! and what do we get billed for maintanance per year after shelling out $20,000 to become owners???? Has our ship totally sunk ?? Is the market telling us the real value that our investment has fallen to when anyone walks off the street and stays in OUR suite for the cheapest price in Manhattan? How can anyone continue to pour yearly fees into this bottomless pit???? sid feldman