Sitt Says Thor's Coney Land No Longer for Sale

The public negotiation continues! Last year Joe Sitt said that he would part with his company's 10.5-acres of land in Coney Island for $165 million. Earlier this year the city, which has its own plans for remaking the area, offered $105 million. Now Sitt says the property's not for sale at all. "We don't want to sell, we want to build," Sitt told the NY Post. It'll be interesting to see who wins this game of chicken. In the end, the city holds the ultimate trump card—eminent domain.
Coney Man Kicks Sand in Mike's Face [NY Post]
City Makes Sitt an Offer He Can Refuse [Brownstoner]
The Fight for the Future of Coney Island [Brownstoner]
Photo by Tricia Vita

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quote:

Coney Island for $165 million

there are over 8 million people in nyc. if everyone chipped in about 2 bucks we could take this piece of land back and use it for whatever we wanted to. absurd, i know. but it would be nice :)

*rob*

Posted by: PitbullNYC at June 11, 2009 9:32 AM

8,000,000*2=$16,000,000

not $165,000,000

make it a twenty and your on.

Posted by: bkn4life at June 11, 2009 9:37 AM

Rob, your math needs some work. You need to watch the Schoolhouse Rock! videos I posted the last two days in the Open Thread. :-)

Posted by: Biff Champion at June 11, 2009 9:39 AM

LOL @ my math. ugh. i seriously got straight A's in math growing up. what happened to me!?!?

*rob*

Posted by: PitbullNYC at June 11, 2009 9:46 AM

When the Stratton Mountain ski area first opened, it was financed in part by skiers who bought shares and in exchange received discounted lift tickets. Twenty bucks? I'm in!

Posted by: altervoce at June 11, 2009 9:58 AM

« Open Thread BBPDC To Assume Control of Fulton Ferry State Park »

June 11, 2009

Sitt Says Thor's Coney Land No Longer for Sale

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