CONEY ISLAND - Coney Island?s Astroland Amusement Park will have its last go-round next summer as new management paves the way for a resort destination.

Astroland owner Carol Hill Albert sold the three-acre site to developer Joseph Sitt?s Thor Equities. Albert?s family has owned the park since 1962. The developer has a $1.5 billion plan to turn the boardwalk into a year-round resort complete with a hotel and amusement attractions. According to Thor Equities, the landmark Cyclone roller coaster, which turns 80 next year, will continue to rumble on the site.

While some Brooklyn residents are excited about the declining area getting a makeover, others worry the developer won?t be respectful of the park?s rich history. Borough President Marty Markowitz released a statement praising the Albert family?s ongoing contribution to Brooklyn tourism.