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New York City Timeshares

Timeshares are a vacation ownership product in which multiple parties have the right to use a property for a set time. The resorts vary in size, from small properties with a few dozen accommodations to even thousands of units. They also often provide owners with amenities like swimming pools, tennis courts, and golf courses. Timeshare ownership can be purchased outright or through a vacation club membership.

France developed the first timeshare resort in the early 1960s. Today, there are more than 5,000 worldwide, with many located near tourist attractions. Most in the United States can be found in Florida, California, and Hawaii. And then there is the Big Apple…

Why New York City?

Considering NYC is one of the most famous cities in the world, the timeshare industry sector thrives. Tourists visit the cultural hub, regarded as the city that never sleeps due to its bustling entertainment and nightlife. But it doesn't end there. Famous attractions worth exploring include Central Park, the Empire State Building, and the Statue of Liberty. There is something for everyone. With so many visitors, timeshare companies lure them to their resorts.

The Pros and Cons of Owning a Timeshare in NYC

What are the benefits?

There is a long list of concessions and conveniences. Still, the following are most advantageous to timeshare owners:

  • Plenty to do: Visitors can ice skate at the Rockefeller Center in the winter, watch a show on Broadway, attend a baseball game at Yankee Stadium, shop in Times Square, and so on.
  • High-end accommodations: NYC offers resorts and amenities that stand out in the timeshare industry. Folks looking for upscale suites and extravagant conveniences during their stay will be delighted. 
  • Easy to exchange: Timeshare owners often exchange their annual intervals for visiting other destinations. To do so, they need someone to choose theirs in return. Since NYC is popular, others always wish to discover it.

What are the drawbacks?

Even the Empire City has its downsides, sometimes with timeshares:

  • Always busy and crowded: No matter the time of day or year, expect a crowd when visiting NYC. With over 50 million visitors each year, it is a popular destination.  
  • Expensive: New York hotels are pricey. That being the case, timeshare vendors market themselves as an affordable alternative. Alas, that is further from the truth, with the average price of a timeshare interval close to eclipsing $25,000. 
  • Challenging to dispose of: Buying a timeshare is easy. Some may even advise that buyers should be cautious. Timeshare resorts are notorious for creating complications. Read more about canceling timeshares here
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New York Timeshares

The Best Timeshares in New York City

Folks visit The Big Apple from around the world, meaning the travel industry is expanding. While accommodations are quick to get booked, timeshare resorts make themselves available. The most popular resorts are found in Manhattan. Below are three options:

Marriott Vacation Club Pulse

Neighboring the Empire State Building since 2009, this resort puts you at the center of everything that the “city that never sleeps” is famous for. Immerse in the nearby shopping centers, art districts, museums, and historical monuments. 

Besides its location, this timeshare also exemplifies the city's essence. Guestrooms and studio rentals are elegant yet modern, with mahogany furniture and spa-inspired restrooms. It also has a beautiful art-deco-inspired lobby and several amenities like a fitness center, bistro, and rooftop lounge.

West 57th Street by Hilton Club

West 57th Street by Hilton Grand Vacations is the city's first shared residential ownership property.  It provides awe-inspiring views that overlook Central Park two blocks away. Other points of interest within walking distance include Carnegie Hall, MOMA, and the prestigious Plaza District. 

This timeshare property is home to over 150 suites, from studios to penthouses. Each is decorated with high-end furnishings and floor-to-ceiling windows that make for an upscale setting with astonishing vistas. They also feature Spa Chakra, a street-level spa providing guests with world-class body treatments, massages, and therapy. 

The Manhattan Club

This historical NYC hotel building places travelers just minutes to everything, from museums and performing art shows to fine dining and shopping plazas. This resort's close proximity makes it simple to experience all the action this city offers.

The Manhattan Club’s high-end interior setting emanates a “classic New York” feeling. It also provides first-class service and accommodations with a fitness center, business center, concierge, and valet service. The private lounge is perfect to start the day with breakfast or to settle down for evening cocktails.

How Do I Know if a Timeshare Is Appropriate?

Timeshares are not suitable for everyone. For example, a timeshare may not be the best option if you prefer spontaneity in your vacations. Nor do timeshare properties hold much investment value as their annual maintenance costs increase. These limitations to timeshare owners are not always advertised; thus, proceed with caution.

What to avoid when timeshare shopping?

Considering the extent timeshare resorts go through to attract new clientele, you may come across such an opportunity. In that case, a few warning signs can ensure you are not on the hook for thousands of dollars. 

  • Resorts with a bad reputation: Research where you will stay. If the resort has negative reviews, it may be best to avoid them.
  • Misleading salesmen: Timeshare vendors are prone to making false promises or withholding essential information to deceive potential buyers. Evade a resort’s sales staff if they exude an untrustworthy sentiment.
  • Overlooking the rescission period: Timeshares have a cooling-off period that allows buyers to cancel the transaction. Alas, vendors do not always share this. Before signing a purchase agreement, confirm you have the information to rescind the timeshare.

Wesley Financial Group, LLC*

Wesley Financial Group, LLC* (WFG) is a timeshare exit company assisting buyers who were misled into purchasing. As a pioneer of the timeshare cancellation industry and with over a decade of experience, this noble company has accounted for more than 16,000 timeshare cancellations. 

Contact a WFG representative if you know someone who experienced deceptive sales tactics with a timeshare purchase and needs a way out. Their timeshare termination services may help you obtain financial freedom. 

*Wesley Financial Group, LLC, and its affiliates, successors, or assigns are not lawyers or a law firm and do not engage in the practice of law or provide legal advice or legal representation. All information, software, services, and comments provided on this site are for informational and self-help purposes only and not intended to substitute for professional advice, legal or otherwise.

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