Developer sells Coney Island acres to NYC

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

News 12 Brooklyn hit the streets to ask 1 Word on the Street: GPS devices
At least six people have been arrested and 2 Six arrested, 4 more sought in Coney Island gang assault video
3 VIDEO: Brooklyn Botanic Garden to host annual Sakura Matsuri Festival
News 12 Long Island has won the regional 4 News 12 Long Island wins regional Edward R. Murrow Award
Sea Cliff's Troy Ramey was voted off 'The 5 Elisa's Entertainment for 4/26

advertisement | advertise on News 12


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.