City Buys Sitt Land, But Coney Future Still Hazy (Village Voice/Runnin’ Scared)

The long-running saga of New York City’s battle with developer Joe Sitt over Coney Island is over, but the amusement district’s future remains unclear:

It was, Mayor Bloomberg said more than once, “a day people probably thought never would arrive.” After more than a year of negotiations and at least one false positive, the mayor and developer Joe Sitt took to the Blue Room podium today to announce that Sitt’s Thor Equities has agreed to sell 6.9 acres of its beachfront property to the city for incorporation in a new “amusement district.” Said the mayor in announcing the deal: “This really is a win-win-win for everybody.”… [read more]