SOURCE: Millennium Partners

October 01, 2007 14:43 ET

On Demand Living in New York: Millennium Partners Launches Second Phillips Club Fractional Ownership Residence in Manhattan

88-Unit Property at Lincoln Center Delivers High-End Amenities and Sense of Belonging for Those Seeking Home-Away-From-Home in NY

NEW YORK, NY--(Marketwire - October 1, 2007) - Millennium Partners, which set the standard for urban fractional real estate with its first Phillips Club residence in New York City eight years ago, has just launched Phase II of The Phillips Club, also located in the heart of New York's Lincoln Center neighborhood.

Phillips Club II offers its member-owners furnished luxury apartments and hotel-style services and amenities in an 88-unit building at 155 West 66th Street. The address had been the site of an extended-stay Phillips Club lodging developed by Millennium in the mid-1990s.

The new club offers 704 total memberships in 88 apartments -- a single membership represents one-eighth ownership in a Club residence. The apartments in Phillips Club II include 14 studios, 62 one-bedrooms, and 12 two-bedrooms, with fractional share units ranging from $190,000 to $380,000.

Fractional ownership offers multiple benefits for regular visitors to New York, eliminating the high expense and maintenance hassles of owning a co-op or condo, while providing a level of personalized service hard to find in a hotel. Similar to a country club membership, Phillips Club members purchase shares in the club rather than stays for specific weeks. Phillips Club members can stay at the property as often as they want subject to the club's reservations policies and procedures. Reservations can be made with as little as one-day's notice or as far ahead as 14 months. If all the members were to use their share equally, they would have 45 days per year. However, some members will use it less than others thereby creating more availability. The result is an on-demand luxury residence in one of New York's premiere neighborhoods.

The first wave of Club II members is coming from around the country, with heavy concentrations from Florida, California, Arizona and other Sunbelt locations, as well as from Midwest and Northeast markets, including a contingent from the greater New York City metro area.

Phase II apartments feature kitchens with granite counters, top-line appliances by GE, and a full set of Villeroy & Boch dinnerware, crystal and silverware. The units also boast marble bathrooms and living rooms with Panasonic 42" high definition flat screen plasma TVs and Bose entertainment systems. Bedroom amenities include high definition LCD televisions, Italian linens and Matelasse coverlets. Daily maid service is available for members in residence and each unit offers wireless and T-1 lines for high-speed Internet connections.

As was the case with the original Phillips Club, all Club II members will have an individual, secure wardrobe for storing a few personal items, such as seasonal clothes, running shoes, or toiletries. Another welcome touch is the Phillips Club's personal shopping service, part of the general concierge service that makes The Phillips Club as hospitality-centric as the city's best hotels.

The Phillips Club also features quality public spaces, including an on-site business center and a members' library-lounge with wireless Internet service. For many members, one of the highs of club ownership is privileges to the Reebok Sports Club/NY, a block away on Columbus Ave.

For more information, contact The Phillips Club, 155 West 66th Street, New York, NY 10023. Phone: (212) 771-7700; e-mail: membership@phillipsclub.com. Or visit the club online at www.phillipsclub.com.

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