Thor’s Coney Island: Amusement Operators Balk, Money Talks at Stillwell

February 10, 2010 by Tricia

What is Joe Sitt planning for Stillwell Avenue in Coney Island 2010? Last month, ATZ said “Good Riddance to Thor Equities Flopped Flea Market, Hello Rides?” In the February print edition of the amusement trade publication Funworld, Thor Equities has a full page ad seeking amusement operators for two large open air lots at Bowery and Stillwell: “Are you ready to count cash this summer in Coney Island?”

After selling the Boardwalk half of the property to the City, Sitt appears to be playing a high stakes game with amusement operators to lease what’s left of his Stillwell lots to the highest bidder.

Thor Equities ad in this month’s Funworld Magazine seeks amusement operators to lease the Stillwell property. The photo shows an overflow crowd at Nathan’s Hot Dog Eating Contest on the 4th of July.

But sources say several carnival and amusement park operators have balked at Thor’s initial asking price, a cool $2 million for the two 50,000 square foot parcels. Some of the interested parties were contenders in the City’s RFP for a Coney Island Amusement Operator, which was won by Zamperla. The Coney hopefuls who put in bids for Thor’s parcels are said to be balking at the slew of onerous lease terms such as a 30-day-vacate clause.

Sideshow operator John Strong, who made a deal to lease the Thor-owned Grashorn Building for his freak museum, managed to get the 30 day clause removed. Perhaps Sitt will play let’s make a deal with one of the balking operators as we get closer to Coney Island’s opening day—March 28, 2010. At the moment, the Coney Island Rumor Mill says all bets are off for the City’s RFP winner Zamperla and runner-up Amusements of America to lease Thor’s Coney parcels.

Or maybe not…. Jane Baxter Vivona, an independent ride operator who is married to A of A’s Phil Vivona, is said to be eager to park her Space Roller in Coney Island for the season. Here’s a vid of what we’ll be missing if A of A has indeed dropped out of the picture…

Glenn Geren of Geren Rides, whose carnival has supplied the rides for Sitt’s Dreamland for two consecutive seasons is still in the running. Last summer, Geren purchased a Schwarzkopf Wildcat Coaster, Reverchon Himalaya, Watkins Swinger and Tempest in anticipation of a third season in Coney Island (“Coney Island 2010? Carnival Gambles on Roller Coaster,” Aug 8, 2009). Perhaps his gamble will pay off.

Geren Rides Trabant in Coney Island, Labor Day 2009. Photo © Tricia Vita/me-myself-i via flickr

Funworld is a trade magazine published by the International Association of Amusement Parks and Attractions (IAAPA), the largest amusement industry association in the world. Sitt’s ad appears to be trying to take a page from the CIDC’ s playbook. In November, the CIDC successfully pitched the City’s Coney Island Amusement Operator RFP to attendees at IAAPA’s trade show in Las Vegas.
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But Thor Equities advertisement touts visitor stats for Coney Island’s season that are as over-inflated as Sitt’s rents and cites five million more visitors than the City’s estimate for an entire year. According to the ad copy, “Coney Island, Brooklyn’s famous entertainment destination, expects 10 million thrill seeking visitors this summer and your business can be right smack in the middle of them!” The Coney Island Development Corporation’s RFP Fact Sheet says, “Currently, approximately five million visitors come to Coney Island every year. With its signature events and its iconic attractions, Coney Island ranks among the must-see destinations for both the more than 8 million New York City residents and the estimated 46 million visitors who come to New York City each year.”

The City’s five million figure includes the New York Aquarium’s 750,000 year round visitorship. The majority of amusement rides and attractions are currently open from Palm Sunday through Columbus Day, with daily operations from Memorial Day Weekend through Labor Day Weekend.

The best estimate of what an individual amusement operator can expect in Coney Island this summer is provided courtesy of Alberto Zamperla, the CEO of Zamperla, in a recent article about their new Luna Park: “For the first season we have estimated the presence of 400 thousand visitors and we are confident it will grow in the future,” Zamperla told the the Italian newspaper Il Giornale di Vicenza.