The Real Deal New York

Thor scores Coney buildings

April 02, 2012 04:30PM

From left: Eldorado Auto Skooters, at 1216-1218 Surf Avenue and Joseph Sitt of Thor Equities

Joseph Sitt’s Thor Equities has closed on the purchase of another set of parcels of land in Coney Island, Amusing the Zillion blog reported. The sale, for $4.5 million, included two buildings: the Eldorado Auto Skooters at 1216-1218 Surf Avenue, and the arcade at 1215 Bowery. The beloved bumper cars, also called the Eldorado Auto Skooters, may continue to operate for up to a year, according to other reports from ATZ.

The price per square foot was $423, ATZ said, which is in line with comparables in the area.

Three years after Coney Island was rezoned, Thor has demolished some buildings, but has yet to build anything that would not have been permitted under the previous rules, ATZ said. [Amusing the Zillion]

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