Saturday, July 14, 2007

Will All of Wonder Wheel Park Fall to Thor?

Wonder Wheel Park Night

With the purchase of some of the Wonder Wheel Park land in Coney Island, Thor Equities would be in control of almost all of the heart of the amusement district along the boardwalk. Sarah Ryley filled in some valuable detail with her piece in the Brooklyn Daily Eagle yesterday, including the raising the obvious possibility that all of Wonder Wheel Park could come under Thor's control for the right price. (Wonder Wheel Park's Dennis Vourderis has a lease on the property for the next 13 years.) Ms. Ryley writes: [Coney Historian Charles] Denson said he thinks the developer will offer to buy Vourderis’ lease and the remaining land the family owns next, creating a solid, four-block footprint that could be left vacant until the city gives in and rezones the land to allow the high rises Thor has been asking for.

The miniature golf course, go-cart track, rock climbing wall and batting cage that once lined Stillwell Avenue were all family-owned businesses bought out, then closed down, by Joseph Sitt, who is president and CEO of Thor Equities.

If Thor offered Dennis $11 million for the lease, Dennis would take it in a second,” said Denson, who knows most of the families who have operated humble amusements in the neighborhoods over the decades. “He offers people so much money they can’t refuse.”GL strongly senses how this part of the story will end.

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