NYC Buys 7 Acres of Coney Island

The city is now set to buy nearly seven acres of land at Coney Island from a Manhattan development firm, for more than $95-million.

Negotiations over the property stalled over the summer. Now, the city’s expected to begin work to transform the waterfront into a year-round destination. Dick Zigun, who runs the Coney Island Museum and its annual Mermaid Parade, says he’s optimistic about the city’s plans.

ZIGUN: Hopefully the city will also be good on its word and put up the money to build steeple chase plaza around the parachute jump, bring back the B & B carasel underneath the parachute jump.

REPORTER: Zigun says rebuilding the amusement park will revitalize Coney Island.

The deal gives the city control of almost all 12 acres to be used for the new outdoor park. City Hall will make a formal announcement about the deal today.

by Jenna Flanagan
WNYC