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

Thursday, November 12, 2009

NY Times - Deal is Done

YES YES YES!!!!! They split the land. Go Coney Year Round!!!!!!

Excerpt -

Each side claimed victory, though no one wanted to comment for the record before Thursday’s announcement. While Mr. Sitt got much less than the $140 million he had wanted for 10.5 of the 12.5 acres he owned, the $95.6 million for 6.9 acres came to more than $300 a square foot — a huge amount in the current market. Mr. Sitt, chief executive of Thor Equities, plans to develop hotels and stores on his remaining 5.6 acres.

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