The Ball Is Now In Sitt's Lot

In the continuing game of chicken, the continuing saga in the redevelopment war of Coney Island between the city and developer Thor Equites the ball now fallen in Thor's court or lot how ever you want to call it. The power game over Coney Island is now in favor of Thor Equities. They will have to either take the $105 million that the city is offering in their last bid for the famed seaside area or continue pressing on with his demands to this administration or the next.

The Bloomberg administration has called the final price that the city could afford to obtain the property in Coney owned by Thor Equities.

The New York Daily News reported:

Talks to buy coveted property standing in the way of a city plan to redevelop Coney Island have come to a halt.

"The bottom line is we can only pay so much - that's it," Bloomberg said, referring to an offer of $105 million for 10.5 acres of property that developer Thor Equities owns. "The city does not have unlimited money."

The offer is significantly less than the $250 million Thor officials floated in November for the property - and $5 million under the city's last offer, officials said.

"We don't have enough classrooms; we don't have enough clinics; we don't have enough infrastructure things," Bloomberg said yesterday. "Government is about making choices and setting priorities, and this is our priority."