If Thor president and chief executive Joseph Sitt succeeds in his bid to have the property rezoned for residential use, some fear he might then sell the property at a substantial profit to a new developer who might have different ideas for the land.Sun may set on historic Coney Island
Five years ago, Thor purchased the Albee Square Mall in Brooklyn for $24 million and talked about giving the site a makeover, only to sell it for $125 million after the property was rezoned to allow for a larger development.
Beneath the Speeding Cyclone, a Look Back in Time
Photo from AM-NY.com
3 comments:
Brooklyn is destroying what makes it Brooklyn.
At least, I believe, the "Cyclone" and "Parachute Jump" are NYC Landmarks!
Coney Island's Eiffel TOwer is an NYC landmark, while the NYS Towers and Arena in Flushing Meadows remain abandoned and crumbing.
Speaking of amusements, anyone remember the Rockaway Playland?
Post a Comment