Developer sells Coney Island acres to NYC

(AP) - New York City has cut a deal to buy almost sevenacres of Coney Island - opening the doors for Mayor MichaelBloomberg's plan to

BROOKLYN - (AP) - New York City has cut a deal to buy almost sevenacres of Coney Island - opening the doors for Mayor MichaelBloomberg's plan to revive the famed Brooklyn waterfront.

City officials say the price for the 6.9 acres is $95.6 million - going to Thor Equities, a Manhattan development firm.

The deal comes after months of tough negotiations that left theConey Island plan up in the air, even after the City Councilapproved it in July.

Bloomberg wants to turn the storied neighborhood into ayear-round destination with high-rise hotels, restaurants, retailstores, movie theaters and the city's first new roller coastersince the Cyclone was built in 1927.

At the heart of Coney Island were the Astroland rides, which saton the acres the city will own.

advertisement | advertise on News 12

Trending Video

Dozens of people were arrested across the borough 1 Dozens arrested in 'Operation Hardball' drug takedown
2 Sports icons take part in brain injury awareness forum
3 Word on the Street: 'As Young As You Feel Day'
The tree fell on tracks that carry the 4 Tree falls on tracks at Parkside Avenue train station
VIDEO: Chopper 12 over police activity at Scarsdale 5 VIDEO: Chopper 12 over police activity at Scarsdale Jewish Community Center

advertisement | advertise on News 12

Features

Sorry to interrupt...

Your first 5 are free

Access to News12 is free for Optimum, Comcast®, Time Warner® and Service Electric℠ video customers.

Please enjoy 5 complimentary views to articles, photos, and videos during the next 30 days.

LOGIN SUBSCRIBE