Wednesday, August 08, 2007

More Curious Coney Island Developments

Coney Game Night

It would be hard to overstate the weirdness that has characterized the Coney Island redevelopment discussion thus far, and particularly hard to overemphasize its bizarre nature during the last week. As for the latest developments, yesterday, Bloomberg reported that most of the Astroland rides that had been put up for auction by former owner Carol Albert have been taken down. The story quotes someone at Rides-4-U Inc. saying "The seller has decided that they can't sell at this time because everything is too up in the air." Meanwhile, the New York Post reported yesterday that some sort of deal may be in the works to swap Mr. Sitt's parcels in the amusement district for the parking lot next to KeySpan Park and the Abe Stark Ice Rink. The city would then sell or lease Mr. Sitt's holdings to an amusement operator. We suspect, however, that it is just one more shot fired in the ongoing very public negotiations between Thor Equities and the city.



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