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November 17, 2008

Thor May Sell Astroland After All

astroland-1108.jpgAfter two years of tough talk, Thor Equities, the controversial developer that has amassed a 10-acre site along the Coney Island boardwalk, may be willing to sell out to the city, reports The Post. It could be the economy or the fact that the city beat out Thor last month for a key parcel of land. Or the fact that Thor needs the city's support to make its plans in Red Hook happen so it's trying to play nice now. The price? $200 to $250 million. (More here.)




Posted by Brownstoner at 9:43 AM | Comments (2)
Categories: Coney Island Area, Development

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Sitt still picks up a pretty profit from the sale of Coney Island site. We can only hope that he will come to his senses and give up the Red Hook site as well to a developer with a little more vision.

Posted by: Left Hook at November 17, 2008 10:31 AM

In the middle of economic crisis, falling real estate prices and major budget shortfalls.... Bloomie is going to cough up $200Million.
Good thinking.

Posted by: Petebklyn at November 17, 2008 2:20 PM

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