EDC’s Deal for Wonder Wheel Park Goes Through

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The Economic Development Corporation’s purchase of the Coney Island land that Wonder Wheel Park sits on was recorded in public records yesterday. The EDC announced it had gone into contract with the property’s owner, Ward Realty, last year, and that it would pay $11 million for the parcels, but the purchase price ended up being $9.75 million. According to an EDC spokeswoman, the Ward family agreed to reduce the purchase price in exchange for closing at an earlier date. In a press release about the purchase last year, the EDC said that Wonder Wheel Park would remain a tenant on the site through 2020 and that “the deal is the first of what NYCEDC expects to be a series of land acquisitions in the coming months as the City proceeds with its vision to create a 21st century entertainment destination and protect Coney Island’s amusement legacy in perpetuity.”
Deed: 1025-27 Boardwalk West, 1102 Bowery, 3001 Jones Walk [ACRIS] GMAP
Photo by OMG! Ponies!

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