The New Coney Island - Brooklyn's Times Square by the Sea

Wednesday, July 1, 2009

Possible compromise plan in the works?

From the same NY Observer article -

The city has been battling to buy Mr. Sitt’s land for about $100 million, though he has resisted, saying he would lose about $30 million in investment at the site. As no deal has emerged—though the two sides have discussed a compromise proposal with a smaller acquisition—Mr. Sitt and his attorney, Jesse Masyr, have pushed these and other points in an attempt to salvage some value in his property, which he paid over $100 million to assemble.

http://www.observer.com/2009/real-estate/coney-island-fight-recchia-backs-developer-joe-sitt-over-bloomberg?page=1

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