search

The Real Deal Logo

Trending

Housing deal finally passes; here are the detailsHousing deal finally passes; here are the detailsLA court strikes down SB9 law allowing single-family lot splitsLA court strikes down SB9 law allowing single-family lot splitsBushburg buying Rudin’s half-empty FiDi office building for $160MBushburg buying Rudin’s half-empty FiDi office building for $160MBrookfield’s deal to sell 777 Tower in Downtown LA collapsesBrookfield’s deal to sell 777 Tower in Downtown LA collapses
New York

Sitt beats out city for more Coney land

Sign Up for the undefined Newsletter

Developer Joe Sitt is reportedly planning to buy more land on the Coney Island boardwalk, putting Mayor Michael Bloomberg’s plans to revitalize Coney Island in jeopardy. Sitt is close to acquiring three more acres of property that Bloomberg wants. Horace Bullard, who owns the former Thunderbolt roller coaster site, said he is leaning towards selling the site to Sitt for $91 million, noting the city’s offers were much lower. The negotiations to sell 10.5 acres of beachfront property in Coney Island to the city are stalled, as Sitt wants between $200 million and $250 million for the land, but the city wants to pay well below $200 million.