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New York

Coney Island deal closes for $95.6M

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The city and Thor Equities have officially closed the deal on 6.9 acres in the Coney Island amusement district, the company announced today. Thor sold the parcel, where the city plans to develop an outdoor amusement park, for $95.6 million, according to public records. Thor will retain six acres on Coney Island, which it plans to use for hotels and retail projects. “In the end, we all wanted the same thing: to return Coney Island to its historic grandeur and prosperous past,” Joseph Sitt, Thor’s chairman and CEO, said in a statement. TRD

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Coney IslandEconomic Development CorporationJoseph SittThor Equities