Mega-developer Thor Equities, which has reportedly laid out more than $100 million so far to rejuvenate Coney Island, has given up on plans for a highly profitable residential component to its Las Vegas-style amusement park project.
Coney Island condo plan beached
"Nobody has ever thought it was a good idea to have condos south of Surf Ave.," said Albert, who hopes to relocate her 45-year-old family-owned amusement park elsewhere along the Coney Island waterfront.
NYC developer revamps plan for Coney Island, nixing luxury condos
Coney Island Plan Is Scaled Back, but Critics Are Skeptical
Photo from NY Times