You might remember that Thor Equities and developer Joe Sitt reneged in July on an agreement to sell one of Coney Island’s oldest buildings to Coney Island USA to expand its museum. According to Mr. Zigun, discussions were at the contract stage for a $2.1 million purchase (which would have produced a $1 million profit for the developer) when Mr. Sitt declined to sell. (The building is now slated for demolition.) This weekend, Mr. Zigun said that not long after the story hit the press, Mr. Sitt called to reopen negotiations “and immediately set conditions that made it impossible to buy.”
The organization–which now has an annual budget of $750,000–recently assumed ownership of its building, which was purchased for $3.6 million after it received a grant from the city.
Mr. Zigun, who is a member of the Coney Island Development Corporation, which will issue recommendations on the critical zoning that will determine its future, is very supportive of redeveloping Coney Island. In fact, he told a group gathered at the Coney Island Museum on Sunday for his “State of Coney Island” address that development should be supported. “If you know the history of Coney Island,” he said, “wanting to preserve it at the lowest point it its history is wrong.” The CIDC zoning recommendations were originally supposed to be released to board members in late August and publicly released this month. The release has been delayed until October, leading to widespread speculation that they are being delayed so that a deal can be reached between the city and Mr. Sitt.
Mr. Zigun, however, did not have kind words for Mr. Sitt. “Thor has been dishonest, has lied to us and my experience has been extremely negative.” He challenged the developer to “Let my building go.”
While it’s likely that condos and fairly tall buildings will be allowed west of KeySpan Park, Mr. Zigun said he believes it is unlikely that housing will be allowed in the amusement core between the Coney Island Aquarium and the minor league stadium. He also endorsed the idea of a land swap that would trade Mr. Sitt’s holding in the central amusement area–whose use has been at the core of the controversy about Coney’s future–for land west of KeySpan Park where Mr. Sitt would likely be able to build retail and condo towers. “I wish it would happen,” he said of the land swap. “Everyone would get what they want.”
Some rides on Mr. Sitt’s property–including the Zipper and Spider rides that survived this season–are likely to be removed as early as next week now that the summer season is over. Mr. Zigun acknowledged that “next year will clearly be different” but noted that Wonder Wheel Park, the Coney Island Museum and other attractions would remain open. The future of Astroland remains up in the air. He also suggested that city has added leverage in terms of negotiating with Mr. Sitt or any other developer for zoning variances they would need to build and that the city has the power to deny the developer demolition permits on the property it currently owns.
Mr. Zigun chided opponents of development in Coney Island and referred to “people blogging in their underwear at 2AM. “This neighborhood has been decimated and rebuilt again and again and agin,” he said. “The history of Coney Island is change.”
He lauded Mayor Bloomberg, Brooklyn Borough President Marty Markowitz and City Council Member Dominic Recchia, who represents Coney Island. “The city wants to do something for Coney Island and solve real problems.” Among the big projects slated for the amusement district is a major renovation of the New York Aquarium, a pavilion beneath the Parachute Jump and major streetscape improvements. He said that “it’s not the city’s fault” that Mr. Sitt bought up about three-fourths of the land in the amusement district and that landowners with long histories in Coney Island decided to sell to the developer.
The city’s decision about zoning and the shape of any deal with Mr. Sitt will determine the nature of future development. Mr. Zigun urged those trying to influence the future development to “create an objective statistical model of Coney Island in 2007” by doing a “ride count.” He said that a tally of the number of adult rides, kiddie rides, arcades and food stands should be the yard stick against which any future development is measured.
“This is a game with very big stakes for the future of our community,” said Mr. Zigun, who has been in Coney Island since 1979. “The game ain’t over yet.”
