City Pays $11 M. For Coney Site Once Sought by Thor

The Bloomberg administration announced today it has agreed to pay $11 million for a piece of Coney Island boardwalk property, putting into city hands the land under much of Wonder Wheel park owned for decades by the Ward family.

The property was once sought, and nearly acquired, by Thor Equities, the largest landowner in the area which has been sparring with the Bloomberg administration for nearly two years over a vision for the amusement district. Just a few months ago, city officials referred to the site as land controlled by Thor, assuming they would need to purchase it from the developer along with most of the rest of the land along the boardwalk. (The Bloomberg administration wants to assemble a 9-acre swath of city-owned parkland along the boardwalk that would host outdoor amusements.)  read more »

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