Sitt beats out city for more Coney land

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.