BROOKLYN - (AP) - The owner of Coney Island's historic Astroland amusement park is calling it quits.

Carol Albert - whose family has owned the Brooklyn amusement park for almost a half century - says she has told employees it will permanently close on Sunday.

In a statement, Albert says she's giving up on negotiating a two-year lease with Thor Equities, the developer that owns the seaside property.

Thor spokesman Stefan Friedman says the company is disappointed. He says other Coney Island rides, amusements, shopping and entertainment will be "fully open for business in the summer of 2009."

For years, Astroland's future has been the focus of bickering among the developer, the ride operator and city officials.