Coney Island Area
May 12, 2008
Funding Secured for $36M Coney Amphitheater
Move over, Jones Beach! City funding to the tune of $36 million has been secured for a 10-acre makeover of Coney Island's Asser Levy Park that will result in the construction of a "world-class" amphitheater, according to Sheepshead Bay News. The development will run between Sea Breeze Avenue to the north, Surf Avenue to the south and West 5th Street to the west. The formal review process for the project is supposed to start sometime this year, and officials are looking to break ground by August 2009 and possibly be finished with it by summer 2011. English architecture firm Grimshaw, which designed the new Cemusa bus shelters, will be the architect for the amphitheater.
‘Designs’ on Asser Levy Makeover [Sheepshead Bay News]
An Amphitheater for Coney Island? [Brownstoner]
Bandshell photo by Lisanne!.
May 7, 2008
Closing Bell: Inflation at Nathan's
For the working man's playground, Coney Island's most well-known hot dog sure is getting expensive. A poster on Coney Island USA's message board noticed last weekend hot dogs at Nathan's Famous now cost $3.20 including tax, a 9.2 percent increase over last year. That's $1.20 more than the typical Manhattan water dog (or $0.70 more if you're a tourist). Maybe it's the rising cost of beef casing? The poster, who calls himself Outlaw, commented, "I do feel sorry for the family of four that stops at Nathan's before or after a day at the beach because it's going to cost them an 'arm and a leg' to enjoy a decent meal there now." Indeed five hot dogs (two for dad) and four tickets to the Wonder Wheel is already a $40 day at the beach, and that doesn't include fries, drinks, toppings or a round at Shoot the Freak. Fortunately, Nathan's website provides a printable coupon that'll get you two dogs for the price of one.
Nathan's 2008 prices rise again [Coney Island USA]
Photo by ckaaloa.
May 1, 2008
City Envisions Hard Rock Cafe, Bliss Spa in Coney
The city says Thor Equities founder Joe Sitt, as primarily a shopping center developer, isn't qualified to operate Coney Island's amusement park. Now, apparently they don't think he's qualified to choose retail, either. Under the city's recently-released compromise plan, Sitt would be asked to hand over 6 of the 11 acres he owns within the amusement district, according to Thor spokesman Stefan Friedman. Sitt could build high-rise hotels and retail on the his remaining five acres south of Surf Avenue, between the aquarium and KeySpan Park, as long as there's no stores like The Gap and Bed, Bath and Beyond. We received a draft proposal a source said outlines examples of retail the city envisions for the indoor portion of the amusement district: Hard Rock Cafe, Knitting Factory, AMC cinemas, Virgin Records, ESPN Zone, Madame Tussauds, Bliss spa, tattoo parlors, a clothing store "such as Lola Staar," and jet ski rentals, amongst others. Some of those items were mentioned in New York Observer article this week about retail remaining a sticking point between the two warring parties. Hear what Thor thinks on the jump...
Continue reading "City Envisions Hard Rock Cafe, Bliss Spa in Coney"
April 17, 2008
City Looks to Compromise on Coney
The city has a new plan for Coney Island that attempts to forge a detente with local landowners over competing visions for the area, according to an article in today's Times. In November the Bloomberg administration revealed that it wanted to control 15 acres of land north of the Boardwalk between KeySpan Park and the New York Aquarium for a year-round amusement district, which would require buying land from property owners like Thor Equities. Thor, the largest property owner in the area, wanted to build a smaller amusement district as well as condo-hotels and a lot of retail. The Bloomberg administration has been in talks with Thor and other landowners since late fall, and it's now proposing a 9-acre, city-owned amusement park and 1.9 million square feet of space where retail, restaurants, and hotels could be built. Thor has most recently pushed for the non-amusement park area to total 2.9 million square feet, but a lawyer for the firm says he's "guardedly optimistic" about the city's new plan. “This is a plan that will preserve the iconic nature of Coney Island and enhance the amusement district, while generating economic opportunities and jobs for local residents,” says Deputy Mayor Robert C. Lieber. “We’re trying to bling it up.”
City’s Coney Island Design Revised to Break Deadlock [NY Times]
Images from The New York Times.
April 11, 2008
Deno's and Astroland Have Some Competition
Thor Equities president Joe Sitt, who owns 10 acres within Coney Island's amusement district, announced today that he'll be hosting the traveling Reithoffer Shows at Stillwell and Bowery for 10 days this summer, from May 22 to June 1. That time frame includes Memorial Day weekend. Some of the rides on offer will be the Ring of Fire, the Zipper (a ride that was sold off from Astroland last fall), the Himalaya and dozens more—competition for those next door at Coney Island mainstays Deno's Wonder Wheel Amusement Park and Astroland. What do you think: More choice or too much of the same?
Astroland photo by ElissaSCA; photo of Reithoffer truck by danmar117.
April 3, 2008
Was Albee Square A Flip for Sitt, Or A Flop?
Many Coney Islanders fear Thor Equities founder Joseph Sitt plans to flip his land within the amusement district if he gets favorable rezoning, like he did with the Albee Square Mall in Downtown Brooklyn. Sitt paid $25 million for the mall in 2001, floating plans to build a roughly 1 million-square-foot tower, but instead sold it last year to Acadia Realty Trust for $125 million after making relatively minor improvements. Chris Havens, who has long worked in the Downtown Brooklyn market, said Sitt actually tried to find investors and an anchor tenant for the tower but came up dry. "He really, really wanted to build that tower," said Havens. "He was looking for partners, having meetings ... I even attended one with him." Ironically, around the same time Albee's previous owner, Bruce Ratner, scored a 194,000-square-foot lease with Target for his up-and-coming Atlantic Terminal, a dream lease for anyone looking to finance a large project. Target is now rumored to have inked a deal at Acadia's Albee Square tower, called City Point.
Thor spokesman Stefan Friedman was asked if the developer has any investors or anchor tenants secured for his $2 billion Coney Island project, the most recent iteration including high-rise hotels, entertainment retail, and an indoor/ outdoor waterpark and amusement park. Often large projects like these will involve several investors, anchor tenants, and hotel or amusement brands, for example, before financing is approved. Friedman responded, "We have interest from every major movie theatre operator and we are confident that Coney Island can once again be a year round entertainment destination." Sitt, a Brooklyn native adept at redeveloping large, deteriorated retail centers, has never built a tower. But he's changed his business plan before, having gotten his start creating Ashley Stewart, a clothing line for plus-size career women. Do you think he'll pull it off?
In Brooklyn, Projects, Plans and Hopes (Jan. 27, 2002) [NY Times]
Coney Island's Billion-Dollar Glam-Rock Makeover (Sept. 8, 2005) [NY Magazine]
Cyclone Swirls Around Coney Island Builder [NY Post]
April 2, 2008
Taconic Mulls Next Act for Landmark Coney Building
A couple weekends ago Dianna Carlin launched her Dreamland Roller Rink in Coney Island's Childs Building to plenty of fanfare and press. For now, as the Observer notes, the event was a one-off while Taconic Investment Partners plans a restoration of the landmark that will bring it permanently back to life. "We're working with Beyer Blinder Belle on the restoration, and they've just started coming to us with designs," says Douglas Winshall, an executive vice president at Taconic, which bought a long-term lease on the building in 2006. "We think a catering hall would be the best use of the building. Work on it, though, is going to require a pretty big investment from us and from the user." Winshall says the firm is in talks with community groups who want to use the space this season, as well as with Carlin about operating a roller rink regularly over the summer. For now, though, the only definite event that's going to be held in the building is the Mermaid Parade Ball, as it was last year. Taconic has purchased two parcels of land in Coney Island, and the company's plans for those lots hinges on the rezoning of the area. That's not the case for the Childs Building, however. "We're thinking about Childs separately from what we're doing with our other Coney Island parcels," says Winshall. "Childs will be redeveloped before we start building anything else there." (An out-of-date rendering Beyer Blinder Belle produced for the Coney Island Strategic Plan that may give an idea of what future Childs could look like is on the jump.) As for a time frame? "We're ready to go today," says Winshall.
Lola Staar's Dreamland Rink Opens in Childs Building [Gowanus Lounge]
A Coney Island Dream Deferred [The Real Estate]
Continue reading "Taconic Mulls Next Act for Landmark Coney Building"
March 17, 2008
Closing Bell: Coney Island in the '40s
In honor of yesterday's opening of Astroland for the season, a way-back machine look at Coney, the "world's biggest barrel of fun."
Coney Island of the 1940's [You Tube]
February 11, 2008
Big Coney Development Site Trades Hands
While Catsimatidis plays wait-and-see with the huge Myrtle project, his Red Apple Group appears to be betting big on a whole different section of Brooklyn: Coney Island. The developer/possible mayoral candidate/supermarket magnate purchased the vacant lots on Surf Avenue near the western end of the boardwalk where Brad Zackson and David Weisz planned to build a $56 million luxury condo development called Ocean Dreams (as rendered to the right). The Red Apple Group bought the properties last week for a little shy of $14 million, according to city records. It’s not clear whether the purchase means Ocean Dreams won’t happen as originally conceived or whether the original developers have simply passed the baton to Catsimatidis. GMAP
Rendering from the Brooklyn Eagle.
An Amphitheater for Coney Island?
The English architecture firm Grimshaw, whose work has become ubiquitous in the city because of the new Cemusa bus shelters, has been chosen to design an amphitheater in Coney Island. Gowanus Lounge broke the news last week after Marty Markowitz announced it during his State of the Borough address. Markowitz says it will be a “state-of-the-art recreational facility and performing arts venue at the gateway to Coney Island—Asser Levy-Seaside Park—which will attract top entertainers who play the summer concert circuit at Jones Beach, Radio City Music Hall, and the PNC Arts Center in New Jersey.” The design above is the only rendering for the project we were able to find, and GL notes that the idea is controversial with locals: “There has been community opposition to the noise such a facility would create, as it is surrounded by apartment buildings.” Grimshaw has also been chosen to helm the redesign of the Queens Museum and is the architect for the new Fulton Street transit hub in Manhattan. As with all grand plans for Coney Island, it’s hard to know how grounded in reality this project is.
Grimshaw to Design "Coney Island Center" [GL] GMAP
State of the Borough Full Text [NY Observer]