Looks like one of the handful of boardwalk properties in Coney Island that isn't owned by Thor Equities will be in its hands soon. Following rumors last week that developer Joe Sitt was trying to buy part of the Wonder Wheel Park property, there's a story that the property is in contract for $11 million. This is the front half of the park in front of landmark Wonder Wheel; the back part is owned by the people that run the park. There are other interesting twists like the fact that the park operators have a lease that runs through 2020 on the kiddie park land. They also have 30 days to match Mr. Sitt's $11 million offer if they want to buy the land. (The Wonder Wheel itself is a landmark, regardless of who owns the land.) So, will Willy the Whale live to see another summer? Or will a plywood fence painted to match the one around Astroland be going up next year? Stay tuned to see how this entertaining part of the story plays out.
· Sitt Goes After Coney Kiddie Park [Bay News]
· Coney Island Rumor Mill: Is Mr. Sitt Trying to Buy Part of Wonder Wheel Park? [GL]
· Coney Island #1: Thor Craves Approval [Curbed]