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Exterior view of The Manhattan Club, a converted hotel to luxury timeshare with 286 suites near Central Park.

The
Manhattan
Club

200 West 56th Street

New York, NY

THE STORY:

Turned a bankrupt hotel property into the first luxury timeshare in Manhattan. Located steps from Central Park and a short walk to Times Square.

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Building icon used on the Continuum Company website, a boutique ground-up real estate development firm in New York & Florida.

286 SUITES

Stair icon used on the Continuum Company website, a boutique real estate development company in New York and Florida.
Wrench icon used on the Continuum Company website, a ground-up real estate development firm in New York and Florida.

26 STORIES

BUILT 2006

Entrance to The Manhattan Club, the first luxury timeshare in Manhattan with 286 suites and a short walk to Central Park.
Master bedroom at The Manhattan Club, a luxury timeshare with 286 suites, private lounge and business center.

PROJECT
DETAILS.

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  • Located steps from Central Park and a short walk to Times Square.

  • 286 suites (representing 14,872 saleable timeshare weeks that could be used in single-day increments)

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AMENITIES:

  • 4,000 sq. ft. private lounge and bar, 2 meeting rooms, business center 

  • State-of-the-art fitness facility

  • 2 sun terraces

  • Walking distance of Central Park, Times Square and the Theater District

PROJECT CHALLENGES

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  • Building was a bankrupt hotel and the existing cash flow did not support current mortgage.

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  • Property was in considerable disrepair and was in need of renovation so it could be repositioned in order to generate higher room rates.

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  • The possibility of unforeseen conditions was high since the building was constructed in the 1920’s and structural/architectural plans were not available.

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  • The existing hotel would have to remain operational during construction.

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  • Proposed redevelopment plan was considered speculative, and therefore traditional financing was unavailable.

Lobby with front desk and seating area at The Manhattan Club, a 286 suite luxury timeshare near Central Park in NYC.
Meeting room in the business center at The Manhattan Club, a hotel turned luxury timeshare by the Continuum Company.

OUR SOLUTION

  • Designed a uniquely structured financing vehicle with seller by using a combination of Continuum equity, existing cash flow and construction financing for re-development.

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  • Applied timeshare concept to property redevelopment. Timeshare presales and untapped urban market demand provided an alternative approach to the repositioning of the asset.

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  • Adapted notion of traditional timeshare to an urban environment allowing buyers to purchase 7-day intervals for use in single-day increments.

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  • Development was completed in stages, four floors at a time. Construction took place while building was fully operational, requiring an unprecedented amount of coordination between operations, development and construction personnel.

Side view of The Manhattan Club from the street. A converted hotel to luxury timeshare by the Continuum Company.
The Continuum Company logo with white letters and black background. Continuum is a real estate development firm in NYC & FL.
View of The Manhattan Club from Central Park, a luxury timeshare developed by the Continuum Company.

                   NEW YORK HEADQUARTERS:                                                                                             T +212 554 3700                                                                       FLORIDA HEADQUARTERS:

 49 West 23rd Street, 4th FL, New York, NY 10010                                                                        reception@continuumcompany.com                                               1700 79th Street, Suite 136, North Bay Village, Florida 33141

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