Coney Island amusement parks officially extend lease

TRD New York /
Dec.December 26, 2013 04:50 PM

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


Related Articles

arrow_forward_ios
2790 West 5th Street in Coney Island (Credit: Google Maps)

Brooklyn man arrested for claiming to help victims buy Mitchell-Lama apartments

Brooklyn man arrested for claiming to help victims buy Mitchell-Lama apartments
Congresswoman Nydia Velázquez, Congressman Jerry Nadler and Council Member Carlos Menchaca (Credit: Getty Images, Google Maps)

Pols pounce as city caves in on Sunset Park property

Pols pounce as city caves in on Sunset Park property
Liberty View Plaza at 850 3rd Avenue and Marvin Schein (inset) (Photo by Axel Dupeux)

City lets Salmar bring office tenants to Brooklyn industrial property

City lets Salmar bring office tenants to Brooklyn industrial property
LCOR’s Anthony Tortora and the parking lot at 1517 Surf Avenue (Credit: Google Maps and LCOR)

California teachers get in on Coney Island’s redevelopment

California teachers get in on Coney Island’s redevelopment
Alexandria Ocasio-Cortez and Sunnyside Yard (Credit: Getty Images, iStock, and SunnySideYard)

Progressives opposing Queens development target AOC

Progressives opposing Queens development target AOC
Clockwise from top left: Anna Treybich, the Mitchell Llama apartments in Coney Island, Irina Zeltser and Karina Andriyan (Credit: Luna Park Co-Op and Google Maps)

Trio charged in bribery scheme at
Mitchell-Lama complex in Coney Island

Trio charged in bribery scheme at
Mitchell-Lama complex in Coney Island
Starrett lands more than $77M in state loans for Coney Island resi project

Starrett lands more than $77M in state loans for Coney Island resi project

Starrett lands more than $77M in state loans for Coney Island resi project
Glenwood’s return: Luxe developer and political kingmaker breaks into affordable housing

Glenwood’s return: Luxe developer and political kingmaker breaks into affordable housing

Glenwood’s return: Luxe developer and political kingmaker breaks into affordable housing
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...