Metro

Mike’s amusing $95M Coney deal

A Brooklyn developer and the Bloomberg administration have ended their game of chicken over the future of Coney Island — agreeing to a $95.6 million deal that will get the city nearly seven acres of prime boardwalk property to build a spectacular new amusement district, sources said yesterday.

BROOKLYN BLOG: Sitt sharing his ‘sandbox’ with City — for $95M

The city’s agreement with developer Joe Sitt ends a four-year standoff in which both sides boasted about having a better vision for restoring the fabled community to its glory days.

The two sides are expected to announce the deal at City Hall today, along with the city’s plans to begin soliciting proposals from developers interested in building a 9.39-acre outdoor amusement park.

An amusement operator is expected to be selected within a month, and a city official said that company would provide interim attractions.

But officials could not speculate on when the 27-acre project would be completed. Much of it is now vacant, including the Astroland amusement park site. Virtually all that remains is the landmarked Cyclone roller coaster and Wonder Wheel.

Sitt still will have a role in the area’s redevelopment. He plans to build retail shops and hotels on his remaining land.

Some business owners said the deal was a step in the right direction, but doesn’t set aside enough room for rides.

“I was hoping they’d buy all [Sitt’s] land. In the end, he got a lot of money and he still gets to build a lot of what he wants,” said Dianna Carlin, who operates a roller rink on the boardwalk.

rich.calder@nypost.com