The Real Deal New York

Coney Island amusement parks officially extend lease

December 26, 2013 04:50PM

cyclone

Cyclone rollercoaster at Luna Park on Coney Island

UPDATE, Dec. 27, 10:13 a.m.: Coney Island tourist spots Deno’s Wonder Wheel Amusement Park and Luna Park have officially received a renewed, expanded lease from the city through summer 2027.

Italy-based Zamperla USA, which owns Luna Park and Scream Zone, will now be able to operate city-owned land along West 15th Street to construct the steel Thunderbolt rollercoaster. Luna Park currently runs from West 8th to West 12th streets — space that Zamperla rents for $100,000 per year. The rent is expected to increase by an undisclosed amount.

A City Council subcommittee approved the lease expansion in April, as previously reported. The original lease was set to expire in 2020, but this extension is planned to help cover damages sustained during Hurricane Sandy.

The New York City Economic Development Corporation brokered the lease for both parks. The Vourderis family operates Deno’s Wonder Wheel Park, which also saw a lease extension to 2027. The city has owned the Wonder Wheel land, on the Boardwalk between West 12th Street and Jones Walk, for five years. [Brooklyn Daily]Mark Maurer

  • Bruce frm Coney

    Zamperla does not own Denos Wonder Wheel Park. The city owns the portion of Denos which is connected to the Boardwalk. The rest of Denos, including the Wonder Wheel is owned by Denos.

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