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The Bloomberg administration made another offer to developer Joe Sitt yesterday to buy roughly 10 acres of Boardwalk property, which the city would like to designate park land for an amusement district. Negotiations between Sitt and city officials have been stalled since November, when the developer shrugged off a $110 million offer; it's believed Sitt spent some $93 million acquiring the land, and hopes to flip it for twice that. So you can imagine how he responded to yesterday's $105 million offer, which was less than what the city previously floated, and based on declining land prices in Brooklyn. Speaking to City Room, Sitt's lawyer sarcastically remarked, "We won’t talk to them until they come down to $100 million."
Today the City Council met to weigh in on the city's proposed rezoning proposal for Coney Island, and The Municipal Arts Society appeared with other community groups to endorse parts of the plan, like the city's decision to buy Sitt's land for a publicly owned amusement park. But they also objected to a proposal by the local community board that would expand the size of retail units to 10,000 square feet. Coney Island USA artistic director Dick Zigun told the committee, "Tourists and visitors are not going to visit Coney to shop at a national pharmacy outlet, or a dollar store. It would eliminate Coney Island’s potential as a cultural and economic engine and as a true amenity for all New Yorkers."
Currently at Coney Island, the Eldorado bumper cars are bumping, the Cyclone will open Sunday at noon with Marty Markowitz breaking a bottle of Brooklyn chocolate egg cream on the first car, the Ringling Brothers circus is considering pitching a tent for the summer, Sitt seems to be setting up a Greenmarket and Flea Market, the Water Flume was dismantled, and Ruby's Bar and Grill looks to be reopening after some Sitt-related lease tension.
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Eminent domain is free. Who in their right mind would go to Coney Island to shop at a national chain? It just blows the mind that it's even a reality. Why does the city even negotiate with this clown Joe Sitt? He bought land in an amusement zone, it doesn't entitle him to a zoning change.
Eminent domain is not free. The city would still have to pay Sitt what they consider fair market value for the land. That's how it works. I'm hoping he holds out longer and the value drops even more, so he gets less than what he paid for it.
But Emminent Domain would require an independent appraisal which could already come in at substantially less than the $93 million Sitt has paid, but I agree, it would be wise to rattle that sabre yet wait a little longer before pulling the trigger.
the coney island of old will never be reborn, because nyc has simply lost its soul and has no class
Can we paint Shitt like a clown and put him on one of those dunk platforms over a pool of piss?
what about the wonder wheel?
Wonder Wheel is a landmark.
that's what i thought but the last paragraph didn't mention it
a lot of people don't realize that bloomberg pretty much wants a variation of what sitt wants for coney island. and of course once he gets his way his plans will change and it will be just as bad or even worse than sitt's.
George C. Tilyou (one of my heroes) is spinning in his grave. As much of a hellhole as Coney was, it's now just and urban blight with no character. Like when the Rockaways were blighted for "future development". Another incestuous mix of cronies kvetching over how they're going to squeeze the last shekel out of a deal, while an area dies and nothing gets done. Just like the "Ground Zero" "Freedom Tower" fiasco. What do we have? A hole, years of discord, and a bunch of rich lawyers. Tilyou would have had stuff like this done in a weekend. Shameful. But not unexpected.
The City is already losing lots of money on more important public needs. Why they want to go into the Amusement business appears to be a strange, new theory of government.
As has already been made evident, there appear to be too many public officials who do not know they already own Keyspan Ball Park and the Stark Ice Skating Rink. I also want to suggest that it would be nice if more of them showed up in the neighborhood.
neil
i heard the warriors are gonna be there for the opening of the new amusement park
I just hope they don't turn it into another 42nd Street Disneyland wannabe.