US News

LAND DEAL RIGHT ON THE CONEY

Astroland Park, the cornerstone of Coney Island’s amusement strip since it opened in 1962, was sold yesterday in a milestone deal that could help turn the waterfront neighborhood into a $1.5 billion entertainment mecca.

Thor Equities bought the 3.1-acre property and said it intends to incorporate the area’s amusement tradition into its planned year-round commercial and recreational district that could include an indoor fun park.

Astroland currently operates spring through fall.

“We remain optimistic about Coney Island’s amusement future because the city has emphasized its commitment to amusements,” said Carol Hill Albert, whose family has owned the park for the past 45 years.

Astroland’s signature rides include the Astrotower, the Pirate Ship, Tilt-a-Whirl, and about two dozen other grown-up and kiddie rides.

But the famed Cyclone roller coaster was not part of the deal. Albert said she would continue operating the landmark ride.

The plan includes hotels, stores and restaurants, housing, an indoor water park, a multi-story carousel and a 4,000-foot-long roller coaster on 10 acres between West 12th and 15th streets.