{"id":319455,"date":"2021-08-09T19:19:11","date_gmt":"2021-08-09T16:19:11","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/nyc-timeshares-boom-back-to-life-this-year\/"},"modified":"2021-08-09T19:19:11","modified_gmt":"2021-08-09T16:19:11","slug":"nyc-timeshares-boom-back-to-life-this-year","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/nyc-timeshares-boom-back-to-life-this-year\/","title":{"rendered":"#NYC timeshares boom back to life this year"},"content":{"rendered":"

“#NYC timeshares boom back to life this year<\/strong>”<\/p>\n

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It\u2019s time to buy a New York minute.<\/p>\n

After getting pounded by the pandemic, the city\u2019s timeshare industry is rebounding with two new, high-end developments arriving this year as visitors return to the city.<\/p>\n

The Central at 5th by Hilton Club, a 34-story, new-construction tower at 12 E. 48th St. (which is, in fact, closer to Madison Avenue than Fifth Avenue) will open this year. <\/p>\n

Its sister building, the Quin by Hilton Club, meanwhile, opened in June at 101 W. 57th St. on Billionaire\u2019s Row after a year-long, $50 million-plus renovation that converted what had been an independently owned hotel.<\/p>\n

The Quin is now Hilton Grand Vacations\u2019 NYC flagship, boasting newly expanded penthouses with outdoor terraces. <\/p>\n

Entry level pricing at the Quin starts at $32,000 for a 300-square-foot studio.<\/p>\n

\u201cThis may well be the most exciting period of growth for us in the city since we entered the market,\u201d said Hilton Grand Vacations executive vice president and COO Gordon Gurnik. \u201cAs the cost per square foot of owning an apartment outright in New York City has continued to rise, there are many advantages to considering timeshare as an option.\u201d<\/p>\n

\"Outside
The new construction Central at 5th by Hilton Club opens this year.<\/figcaption>
Hilton Grand Vacations<\/span><\/figcaption><\/figure>\n

These glitzy new projects hope to distance themselves from the high-pressure, low-value vacation units that have become synonymous with the word \u201ctimeshare,\u201d while giving those eager to have an affordable launch pad in New York a roost.<\/p>\n

Linda Marks, 63, a research manager at New York glassmaker Corning Inc., is a believer. She has owned with Hilton for about 15 years. But recently, she sold her timeshares in Florida, Las Vegas and at West 57th, and bought a slice of the Quin.<\/p>\n

\u201cWhen I owned at West 57th, I would look across at the Quin and wonder about who stayed there,\u201d the Elmira, NY, resident told The Post. \u201cWhen Hilton Grand Vacations took over, I decided this is where I want to be.\u201d<\/p>\n

A regular visitor to the city, Marks prefers the familiarity of the timeshare model over hotels.<\/p>\n

\"Outside
The Quin is Hilton\u2019s new timeshare flagship steps away from 5th Ave., where a studio starts at $32,000. <\/figcaption>
Stefano Giovannini<\/span><\/figcaption><\/figure>\n

\u201cI know exactly where I\u2019m going to stay and what the room looks like,\u201d she said. \u201cThey know my preferences, like I prefer a room on a lower floor, because I like to listen to the traffic.\u201d<\/p>\n

She added that because of the explosion in Midtown real estate values, buying a permanent pied-\u00e0-terre in the city isn\u2019t an option.<\/p>\n

\n

\u201cThe upkeep is all taken care of. They change my linens and clean up my room. I just show up and enjoy myself.\u201d<\/p>\n

Linda Marks<\/cite><\/p><\/blockquote>\n<\/figure>\n

\u201cI wouldn\u2019t be able to afford a place on West 57th Street,\u201d she said. \u201cI\u2019m right near Lincoln Center and Times Square. The upkeep is all taken care of. They change my linens and clean up my room. I just show up and enjoy myself.\u201d<\/p>\n

While timeshares have enjoyed success in beachy getaways for nearly half a century \u2014 the first timeshare in the US opened in Fort Lauderdale, Fla., in 1974 \u2014 the divided ownership model was late to arrive in NYC.<\/p>\n

The first timeshare in Manhattan opened in 1996 at the Manhattan Club, on 56th Street and Seventh Avenue. But it wasn\u2019t until 2009 that NYC saw its first purpose-built timeshare: West 57th Street by Hilton Club.<\/p>\n

\u201cIt was a game<\/a> changer,\u201d said Mike Kennedy, a former West 57th Street sales rep.<\/p>\n

But Hilton Grand Vacations, is hardly the only timeshare brand banking on NYC right now.<\/p>\n

\"A
\n

Club Wyndham\u2019s Midtown 45 saw a 30% bump in business this year over 2019 as visitors return to NYC.<\/figcaption>

Club Wyndham<\/span><\/figcaption><\/figure>\n

Club Wyndham\u2019s Midtown 45 \u2014 a subsidiary of Wyndham Destinations, the world\u2019s largest timeshare business with over 240 properties worldwide \u2014 opened in 2012, and is seeing renewed interest post-lockdown.<\/p>\n

\u201cSales this year are up 30% on 2019,\u201d said Michael Brown, CEO of Travel<\/a> + Leisure Co., Wyndham Destinations\u2019 parent company. \u201cIt\u2019s a pied-\u00e0-terre without the high cost of purchasing real estate. The costs are transparent and you can match your expense to usage.\u201d<\/p>\n

Club Wyndham\u2019s timeshares start at $21,000 for a 650-square-foot, one-bedroom abode.<\/p>\n

\"A
The Phillips Club by Lincoln Center offers deeded fractional ownership.<\/figcaption>
The Phillips Club<\/span><\/figcaption><\/figure>\n

The Phillips Club, a deeded fractional ownership model building in Lincoln Square, is also feeling the energy.<\/p>\n

\u201cFrom March 2020 to February of this year, we were basically dormant,\u201d said Ed Schnatterly, the Phillips Club\u2019s director of sales. \u201cThen boom! People have jumped on lower pricing, which is already going up since January lows.\u201d<\/p>\n

Pricing at the Phillips Club starts at $170,000 for a 600-square-foot studio.<\/p>\n

And for a sector of part-time New Yorkers, that is a steal.<\/p>\n

\u201cI don\u2019t think of it as a real estate investment,\u201d Marks said. \u201c I think of it as a vacation investment.\u201d\n <\/p><\/div>\n

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\n

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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“#NYC timeshares boom back to life this year” It\u2019s time to buy a New York minute. After getting pounded by the pandemic, the city\u2019s timeshare industry is rebounding with two new, high-end developments arriving this year as visitors return to the city. The Central at 5th by Hilton Club, a 34-story, new-construction tower at 12…<\/p>\n","protected":false},"author":1,"featured_media":319456,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/08\/re-timeshares-1.jpg?quality=90&strip=all&w=1200","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[113761,70344,94382,103924,98257,72122],"class_list":["post-319455","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-8-9-21","tag-coronavirus-in-ny","tag-hilton","tag-penthouses","tag-timeshares","tag-vacations"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/319455","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=319455"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/319455\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/319456"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=319455"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=319455"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=319455"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}