Joe Sitt Gets His Payday
by Joshua Malbin on Nov.11, 2009, under New York, Politics
Mayor Bloomberg has sealed his deal to buy Joe Sitt out of Coney Island, buying seven of the speculator’s 12.5 Coney holdings for a whopping $95.6 million.
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The [New York] Times described the purchase price of $300 per square foot as “a huge amount in the current market.”
Ahem. I believe someone may have said something about this happening in the end.
After the term limits thing, developer-coddling was the second major reason I voted against Mike Bloomberg.