25 October 2007

Astroland Gets One-Year Reprieve

That roar of jubilation you're hearing to the south is Coney Island's reaction to the news that Astroland will be allowed to purvey its amusements for one more summer. Rumors to that effect have tantalized New Yorkers for months now. But Thor Equities, the geniuses who think Coney needs a better amusement park, made it official yesterday.

The park will reopen on March 16 and stay open until September 2008. (Thor has been rolling craps with the City and the Public for so long that my bet is the company won't be ready to build even a year from now, making further extensions a distinct possibility.)

What held up the reprieve? Well it may have had something to do with the terms Thor was seeking from Astroland owner Carol Albert. According to her, Thor was asking for $3 million in rent for 2008, a 1,650% increase of the previous rent of $180,000.

Now I know who today's real estate developers are. They're those guys who wake up every morning and say, "The most important thing in the world today is whatever it is I want."

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