The three-acre Astroland site on Coney Island was sold to Thor Equities for an unspecified amount of money. Thor, which has ambitious plans to turn Coney Island into a year-round resort, complete with residences, has already bought $100 million worth of properties in the area. Astroland will close after the summer of 2007. Cyclone fans, don't worry: The Cyclone is on city land and will continued to be operated by Astroland owners, the Albert family.

Carol Hill Albert said, "It's not something we're happy about; it's sad. It was the only logical alternative to going out of business altogether." She said that she wants to relocate some rides to other parts of Coney Island, but others will be cleared for Thor's planned new rides and entertainment area. The Alberts did keep ownership of the water flume and Astrotower, though they exactly can't move the Astrotower (Albert said to reporters, "You can put it on eBay for me.")

The Daily News had a fun juxtaposition of quotes. Thor's spokesman said, "We're thinking totally outside of the box. We're thinking something spectacular that would be really great for New York City," while one resident said, "It's not going to be Coney Island the way I know Coney Island. They're going to make it nice."

Photograph by Tien Mao