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Thor’s Coney Island: Retail Ride of a Lifetime’s Phantom Arcade

Posted in Amusement Game, Real Estate, Redevelopment, tagged arcade, Coney Island, Retail, Retail Ride of a Lifetime, Stillwell Avenue, Thor Equities on June 12, 2013| 18 Comments »

ARCADE sign on Thor Equities Building on Stillwell Avenue, Coney Island. June 1, 2013. Photo © Tricia Vita/me-myself-i via flickr

When the shimmery signs for the new pop-up shops went up on Thor Equities’ retail building on Stillwell Avenue, a sign with larger lettering promising ARCADE and a Steeplechase Park Funny Face, Coney’s symbol of merriment, took center stage. But there is no amusement arcade with coin-operated games in Joe Sitt’s “Retail Ride of a Lifetime” Building in Coney Island. It’s a phantom. The door, decorated with a sign advertising Retail Space Available, leads to a vacant space, maybe 10 by 15 feet, that would fit several machines at the most. Sources tell ATZ the arcade use was required to obtain the C of O for the building from the City. Why not get it up and running? Joey Coney Island’s Arcade! There are actually two of these phantom arcades –one on the Stillwell Ave. side of the Building, the other on Surf next to It’Sugar candy chain.

Before the season got underway, at least three Coney Island amusement operators were approached to put games in the building. Sources say an agreement could not be reached because Thor wanted a high rent and the amusement operators proposed revenue sharing, which is standard for owners of arcade equipment placing machines in restaurants and retail locations. Ironically, all but one of the retail tenants in the new building are believed to have revenue-sharing arrangements in lieu of rent, according to the Coney Island Rumor Mill.

Thor Equities Retail Building at Surf and Stillwell, Coney Island. May 29, 2013. Photo © Tricia Vita/me-myself-i via flickr

On either side of the tiny nonexistent “arcade” are 2,500 square foot retail spaces, the maximum allowed by the Coney Island Rezoning of 2009. However, the zoning requires that “At least 15 percent of the Stillwell Avenue and West 10th Street street frontage of any zoning lot shall be occupied by Use Group A1 uses at the ground floor level.” A measly 15 per cent! “A1” includes amusement arcades as well as open booths with games of skill or chance, such as water racing and shooting galleries, which used to occupy the spot in the demolished Henderson Building where the Brooklyn Nets Shop is now.

Use Group C, which covers retail and service uses, is what we can expect to see more of in Thor’s Coney Island. The pop-up shops include clothing and T-shirt boutiques Wampum NY and Brooklyn Rocks, Coney Island Convenience Shop, and the Brooklyn Nets Shop on the Bowery. Candy retailer It’Sugar on Surf Avenue is believed to have a longer lease.

The next chain store to arrive in Coney Island’s amusement district is Rainbow, which sells clothing for juniors, plus sizes, and children, as well as shoes. They’re set to open on the Stillwell side of Thor’s building, across the street from Nathan’s Famous. The Brooklyn-headquartered retail chain has 28 other stores in Brooklyn and over 1,000 locations nationwide.

Other chains coming to Coney Island are Applebee’s, Johnny Rockets, Red Mango and Checkers franchises, which signed leases with various property owners on the north side of Surf Avenue. Until the early 1980′s that side of Surf was home to individually-owned penny arcades and a variety of rides including bumper cars, carousels and even a Jumbo Jet-style coaster. The last ride on the north side of Surf– Coney Island’s B & B Carousell —closed in 2005 and is now located in the new Steeplechase Plaza on the Boardwalk.

UPDATE June 13, 2013

Nobody ever said life was fair, but the first word that comes to mind here is DESPICABLE. Remember Maritza, who was evicted from Thor Equities soon-to-be demolished Henderson Building in 2010? She’s had a souvenir store in various spots in Coney for oh, about 25 to 30 years. ATZ wrote about her again in April when she moved her gift shop/convenience store into Thor’s Retail Ride of A Lifetime building (“Thor’s Coney Island: Evicted Souvenir Shop Returns to Its Spot,” ATZ, April 19, 2013).

Well, it turns out Maritza is the ONLY one in Thor’s building who is actually paying rent, in the tens of thousands of dollars, too. The veteran shopkeeper was not offered the 15 per cent of sales deal that the brand-name newcomers from small shops like Wampum NYC and Brooklyn Rocks to the chain It’Sugar and the Brooklyn Nets Store were given. Guess we’ll have to go back and update the December post about Joe Sitt’s press release “To Add Local Flavor To Coney Island By Leasing Major Surf Avenue Parcels To Local Brooklyn Merchants At Reduced Rents For 2013.” There’s nobody more local than Maritza. Rip up the lease and give her the break you’re giving everyone else, Joe!

Thor’s Coney Island: Evicted Souvenir Shop Returns to Its Spot

Posted in Real Estate, Redevelopment, tagged Retail, Souvenir Shop, Stillwell Avenue, store, Thor Equities on April 19, 2013| 1 Comment »

Maritza Suriano behind the new counter at her souvenir shop in Coney Island. April 18, 2013. Photo © Tricia Vita via flickr

On Thursday in Coney Island, ATZ found longtime souvenir shop owner Maritza Suriano moving into Thor Equities new building at Surf and Stillwell Avenues. The most remarkable thing is that her storefront on Stillwell is pretty much the same spot that she leased for decades in the Henderson Building until she got notice to leave before the building’s demolition by Thor. The space is about three times the size of her former space, she said. The lease is for one season and runs through Labor Day.

As ATZ first reported, the building has two other tenants that we were able to confirm: It’Sugar, a Miami-based candy retailer, has the corner store and is expected to open May 3. Wampum, a lifestyle clothing brand and skateboard shop featuring 90% clothing which has two other locations in Bridgehampton and Nolita is slated to open in Coney on May 24.

According to the Coney Island Rumor Mill, a restaurant and bar with a roof deck are coming too but the name is top secret, though it’s said not to be a Hooters. Previous rumors have focused on Wet Willie’s and Hooters. What’s missing from this mix? The bells and whistles of an arcade or other “Group A” amusement attraction required by the City’s zoning in Coney Island. In the past, Thor Equities had advertisements touting Coney Island as “The Retail Ride of A Lifetime,” but has since replaced them with photos of the Cyclone and Wonder Wheel.

Stocking up at Maritza’s Souvenir Shop. April 18, 2013, Photo © Tricia Vita via flickr

The last time ATZ wrote about Maritza was in August 2010, when her business along with Popeye’s Chicken were being evicted from the soon-to-be demolished Henderson Building. At the time, Maritza said, “When [Thor Equities] makes the new building he promised to give me a 10 year lease, but I don’t know. They’re supposed to talk to me about it, but I’m still here waiting.”

After Thor CEO Joe Sitt announced demolition plans in April 2010, a rendering was released of a cheesy looking temporary one-story building occupied by hamburger and taco food joints. At the time we thought it was a ploy to get demo permits from the City and put an end to preservationists’ efforts to get approval for an historic district in Coney Island. The site is zoned for a hotel of up to 30 stories. Thor’s new building on the Henderson site was finished last year but has remained vacant till now.

After losing her space in the Henderson Building, Maritza relocated in 2011 to a cubbyhole of a shop on Stillwell Avenue under Cha Cha’s. In 2012 she had to relocate again and opened her souvenir stand in a trailer at Cha Cha’s Steeplechase Park. “I’ve been in Coney Island for 25, 30 years,” said Maritza, “Before Stillwell, I was on Surf where the grocery store is.” Her spacious new store has room for groceries and beach gear.

Maritza surveys her new space in Thor Equities building at Surf and Stillwell. April 18, 2013. Photo © Tricia Vita via flickr

In Thor’s Coney Island, Discount on Retail Ride of a Lifetime

Posted in Real Estate, Redevelopment, tagged Coney Island, pop-up store, Retail Ride of a Lifetime, Stillwell Avenue, Surf Avenue, Thor Equities on December 24, 2012| 2 Comments »

View of Thor Equities Vacant Building from Stillwell Terminal in Coney Island on January 29, 2012. The building is currently boarded up with a plywood mural. Photo © Tricia Vita/me-myself-i via flickr

A press release from Thor Equities offers potential good news for Brooklyn retailers and restaurateurs who’d like to open a pop-up store or get a foot in the door of the new Coney Island: “Thor To Add Local Flavor To Coney Island By Leasing Major Surf Avenue Parcels To Local Brooklyn Merchants At Reduced Rents For 2013.” The idea is to fully lease Joe Sitt’s new building at Surf and Stillwell for the summer of 2013.

Vacant since its unveiling last January, the sterile looking building was soon boarded up with plywood. It is currently dressed up with a Funny Face mural and a sign advertising “CONEY ISLAND – The RETAIL RIDE of a LIFETIME” with a phone number to call for leasing opportunities.

New Coney Island ‘Funny Face’ Mural on Thor Equities Building at Surf and Stillwell. May 28, 2012. Photo © Tricia Vita/me-myself-i via flickr

As ATZ reported last week, Johnny Rockets, Red Mango and Applebee’s franchisees recently signed leases with property owners on the north side of Surf, where sources said the rent was one third the price of Thor’s building on the south side. How enticing is Thor’s rent reduction?

“While each location within the 15,000 square foot property is taken on a case-by-case basis, generally Sitt is reducing each unit in the vicinity of about 40 per cent,” Thor spokesperson Jaclyn Rothenberg told ATZ. “The building is divided into four storefronts. Three are vacant and one has been leased to a national company.” In addition, the Eldorado Bumper Cars and Arcade, which is a couple of doors away in a building purchased last year by Thor Equities, will also be the beneficiary of a rent reduction. This couldn’t have come at a better time since the Eldorado was damaged by Sandy and needs costly repairs to reopen.

Eldorado Auto Skooters Sign by Steve Powers, Surf Avenue in Coney Island. September 5, 2012. Photo © Tricia Vita/me-myself-i via flickr

On December 15th, Thor Equities filed plans with the Department of Buildings for general construction for a new retail build-out inclusive of partitions and installation of mechanical equipment, duct work and plumbing fixtures. The original floorplan for 1232 Surf promised more than a dozen spaces including a row of 250-square-foot spaces on the Bowery side, outdoor seating on Henderson Walk and a 3,050 square foot roof deck.

Thor is teaming up with the Brooklyn Chamber of Commerce to help recruit tenants, according to Chamber president Carlo Scissura. “This program is especially important in the aftermath of Hurricane Sandy and will go a long way in making sure that Coney Island remains a vibrant neighborhood and tourist attraction as well as a place where small businesses can thrive and Brooklynites can get jobs,” said Scissura.

Thor’s Coney Island: Stillwell Avenue side of Joe Sitt’s new building. January 29, 2012. Photo © Tricia Vita/me-myself-i via flickr

The biggest surprise of the press release was what Thor CEO Joe Sitt had to say about chains vs local businesses: “Coney Island’s popularity has reached record proportions, but we can never forget what got us here – local, ahead-of-their-time business owners who brought flair, hipness and edge to the People’s Playground,” Sitt said. “While it is wonderful that national chains are now coming to Coney, providing needed jobs and year-round revenue to the community, we must always remember the history of this iconic neighborhood.”

In the documentary “Zipper,” Joe Sitt reads a list of national chains that he wants to bring to the new Coney Island. It sounds like Any Vacation Spot USA: Ripley’s Believe It Or Not, Dave and Buster’s, Hard Rock, Rocky Mountain Chocolate Factory, Howie’s Game Factory, Build-A-Bear Workshop. Has Sitt, who was reviled in 2008 as the Grinch who stole Coney Island for locking out small business owners on Christmas Eve, evolved into a Santa for Mom-and-Pops? Hey, we hope so. Only time and the new building’s tenants will tell.

Thinkwell’s rendering for Thor’s Temporary One-Story Building in Coney Island. April 2010

The one-story building at 1232 Surf Avenue is Thor Equities’ first new construction in Coney Island. It was built on the site of the century-old Henderson Music Hall, which was doomed when the City rezoned the parcel for a high-rise “hotel” in July 2009. The City’s Landmarks Preservation Commission denied landmark designation and also declined to create a historic district, which would have created tax incentives to rehab the building.

Henderson’s began as a restaurant at Bowery and Henderson Walk in 1881 and included a music hall featuring such music and vaudeville acts as Al Jolson, the Marx Brothers, and Sophie Tucker. From 1926 to 1984, the building housed the World in Wax Musee. Tenants who lost their leases after Thor bought the property or due to the demolition in 2010 include the Velocity Nightclub and Popeye’s Chicken, which has since relocated to the Popper Building. The Fascination arcade owner moved his business (renamed Game World) to another Thor-owned property on Surf.

One of the saddest losses was the Fascination Arcade’s bare bulb sign which dated back to the 1930s. It was illuminated year-round and was a welcome sight to see upon exiting Stillwell Terminal. Also missed are the individually owned concession games like Shoot Out The Star, Balloon Raceing [sic] and the Balloon Dart on the Stillwell and Bowery sides of the building. Is there anyone besides this former carny kid and game operator who is going to lament the fact that these old school amusements are gone forever from this corner of Coney Island?