In an unusual move, the city has bought nearly seven acres of land in the middle of Coney Island from Thor Equities, the company that originally planned to renovate Coney Island and turn the area into a major tourist destination.
After countless battles with the people living in that area, many were fed up with the lack of progress in getting Coney Island up and running. Seeing an opportunity, the Bloomberg Administration bought 6.9 of the 10.5 acres that Thor had originally purchased and will share ownership of the area.
According to the New York Times, the …continue reading
