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Coney Island amusement park in jeopardy after delayed lease

The rental agreement signed last year to maintain the two largest amusement parks on Coney Island has not yet been approved. Today, some stakeholders are questioning the future of the legendary promenade.

Last December, the city council and Mayor Bill de Blasioplan to extend the lease of Luna Park and Deno's Wonder Wheel Park, which operate on urban land, for 10 years until 2037. Approved. ..

But eight months later, the Brooklyn Autonomous Region Commission has not yet heard of what stakeholders considered to be a prompt approval of the rubber stamp.

"I'm cautiously optimistic that it will be achieved, but now I'm a little worried that I may not get what I promised," said Ruby's Bar. The owner, Michael Sorrell, said. &Grill, a promenade fixture that has subleased urban land from Luna Park since 1934 and has been promised extension as well as rental relief.

At a meeting in September, a spokeswoman for President Antonio Reynoso, Mayor of the ward, confirmed that he would begin listening to testimony regarding the lease agreement. She also said Reynoso, who beeped in January, would investigate the issue more closely prior to voting.

Coney Island boardwalk businesses dealt with rent hikes before the pandemic.
Gabriella Bus

The Luna Park representative did not return a message. "We're still hoping for a deal to close," said Dennis Bullderis, co-owner of Deno's Wonder Wheel Park, but wondering why it's taking so long.

Both amusement operators are looking for extensions to help show lenders who are long-term committed to Connie Island in order to increase their borrowing capacity for expansion and refurbishment.

The deal, mediated by former councilor Mark Trager, was hit by Ruby and three promenade businesses with high rent increases shortly before the pandemic in early 2020. Little survivedThe last three summer seasons.

The city's Economic Development Corporation, which oversees the lease, said in a statement that if approved, the extension would "provide greater stability and a more successful season in 2023 and the next few years. ".

Michael Sorrell, co-owner of Ruby’s Bar & Grill, fears the lease agreement will not be completed.
James Keivom
Brooklyn Borough President Antonio Reynoso
Erik Pendzich / Shutterstock

However, the small but popular designer T-shirt shop on the promenade since 2001 hasn't been traded yet.

LolaStar boutique owner activist Dianna Carlin spoke most loudly about the first rent increase, withcrazy about 400 in late 2019 and early 2020. Organized a series of protests. Percentage increase by Luna Park owners. She attended the borough board with her supporters and said she plans to fight for the survival of her store.