The city paid $95.6 million for 7 key acres in Coney Island owned by Joe Sitt, of Thor Properties. This appears to be very good news and there is hope, once again, that Coney Island can and will be the wonderland it once was—an amusement oasis for the citizens of New York City.
Kinetic Carnival, one of Coney Island's notable blogs, shares the news and has links to all of today's coverage on blogs and in the media.
A major turning point in the Coney Island revitalization saga happened yesterday as the City bought most of Sitt's hold on Coney Island. Which in the end proves Sitt was who we always thought he was: a speculator. The city has agreed to pay $95.6 million for 6 or so acres of Sitt's land he owned in Coney Island. Most of that is the land in the core of the amusement area including the former Astroland lot. What Sitt still owns in Coney Island is still questionable as what will be the situation there.
Pix of Coney Island in the snow by Hugh Crawford