The Real Deal New York

Coney Islanders wait to see what will come of Horace Bullard’s real estate

April 24, 2013 02:30PM

Coney Island residents are waiting to see what will become of the late Horace Bullard’s real estate holdings, which include some of the neighborhood’s most prized properties, such as the Shore Theater and the Thunderbolt and Playland Arcade site, the Brooklyn Daily reported.

Locals accused Bullard, who died earlier this month of Lou Gehrig’s Disease, of delaying development of These Surf Avenue properties, which are currently on the market for a total of $102 million. Now their question is whether his daughter and heir, Jasmine, will go ahead with a redevelopment of the properties or slash their prices for a speedy sale.

Jasmine told the Daily it’s too soon to say what she’ll do with her father’s holdings.

Though she said she wants to honor her father by carrying his Coney Island renewal plan forward, she added that she has no ready plans for building them out or listing them.

The landmarked Shore Theater is asking $12 million, whereas the combined Playland and Thunderbolt plots — the latter of which housed the famed Thunderbolt roller coaster — want $90 million.

Despite these properties, Coney Island is seeing some activity now. There’s a sports complex redevelopment in the works, a planned mall expansion and city funding for Child’s Restaurant. [Brooklyn Daily]Zachary Kussin