Joe Sitt offers to swap his condos for timeshares, but the city calls it a mere bait and switch.

Developers Thor Equities dropped a bombshell yesterday afternoon, sending out a terse two-paragraph e-mail declaring that it had “completely eliminated the residential component of its proposed plan” and will instead offer “a plan that is compatible with the City’s strategic plan.” In other words, no condos for Coney… [read more]