Posted Thursday, April 2, 2009 10:11 AM | Contributed by Jeff
The city is ready to write a $105 million check for property that would complete its vision of a Coney Island makeover. The deal, which would cap more than a year of prickly negotiations between the city and Thor Equities, would be for 10 acres the developer acquired over the past five years for a total of $93 million, officials said. Thor says it's not interested.
Read more from The New York Daily News.
I think I would actually trust the city to do a better job to redevelop the area than I would Thor Equities. Thor may not give a crap about the history of the neighborhood but you can bet that NYC will.
I wonder how much the 12 million would cover the amount they spent making the aquisitions, fighting, and planning?
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