‘We realized that we’re in trouble’
Coney boardwalk businesses granted lease extensions, rental assistance
BY JESSICA PARKS
The iconic businesses that
line Coney Island’s famed
boardwalk are breathing a
sigh of relief, as they’ve been
granted a 10-year lease extension,
as well as additional
rental assistance through
“The amendment will help
small businesses on Coney Island’s
historic boardwalk. The
resulting lease and sublease
extensions will afford them
greater stability, enable them
to better recover from the
pandemic, and help them engage
in long-term investments
benefi cial to the Coney Island
community,” said a spokesperson
for the business-boosting
Economic Development Corporation,
which controls the
Coney Island Amusement District.
The City Council approved
a lease extension last week for
Central Amusement International,
which manages the
properties on behalf of EDC.
Four businesses that have
leases with Central Amusement
International — Ruby’s
Bar and Grill, Paul’s Daughter,
Brooklyn Beach Shop, and
Tom’s Coney Island — banded
together to bargain for leeway
with their leases after missing
an entire beach season during
the worst days of the pandemic.
“We realized that we’re
in trouble, that we need help,
so we reached out to Councilmember
COURIER LIFE, D 6 ECEMBER 24-30, 2021
offi ce to see what kind of help
he might be able to infl uence
us with,” said Michael Sarrel,
the general manager of Ruby’s
Bar and Grill.
Treyger, Coney Island’s
helped facilitate negotiations
with Central Amusement International
— who was already
requesting a lease extension
until 2037 with their
landlord, EDC, in the hope to
see more return on upcoming
investments — and encouraged
the management company
to pass off the same deal
to its tenants.
“Zamperla is asking for a
lease extension until 2037, so
we wanted to ensure that the
boardwalk businesses also
remained viable, so I encouraged
him to renegotiate the
leases with the businesses,”
Treyger told Brooklyn Paper.
Because Central Amusement
International is essentially
a tenant of the EDC,
they rely on relief from the
EDC themselves before they
are able to offer relief to the individual
business which they
oversee. Ultimately, the EDC
agreed and fi nalized the deal
by sending the legally-binding
agreement to the City Council,
which approved the extensions.
“Our landlord said ‘the
only way we could really help
you is if our landlord got us an
extension,’” said Sarrel.
The now-approved deal extends
the leases of the advocating
fi ve businesses, as well
as both Luna Park and Deno’s
Wonder Wheel Amusement
Park, from 2027 to 2037, and
also includes rent relief for
the next seven years to help
the businesses get back on
their feet after they suffered
economic losses during the
pandemic, which kept many
visitors away in the typicallybusy
A business notably left out
of the agreement is Lola Star’s
Gift Shop, whose owner Dianna
Carlin (known herself
as Lola Star) has been vocal
about rent hikes allegedly
wrought down by Central
Amusement International in
2019. In a letter posted to social
media, Star said she was
never notifi ed of the deal.
According to her post, the
small business owner said neither
the councilmember nor
the EDC have responded to
any of her emails and she was
“intentionally iced out of the
City’s assistance and this extension.”
An EDC spokesperson said
Star still has time to enter a
lease agreement under similar
terms as her fellow small
Star does not have an active
lease with Central Amusement
since it expired in 2019, according
to multiple sources,
but Treyger suggests there is
“I still encourage Zamperla
and Lola Star to negotiate in
good faith and EDC could play
the role of facilitator,” he said.
Central Amusement International
did not respond to a
request for comment.
Ruby’s Bar and Grill. File photo
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