Coney Island observers are still spinning their wheels over the surprise announcement Wednesday that the city has bought one acre of Deno’s Wonder Wheel Park for $11 million. The land was owned by the Ward Family Trust, according to published reports, and reportedly was in contract to developer Joseph Sitt’s Thor Equities, which has been very active in Coney Island. The deal fell through, a spokesman for the family said Thursday, and the family sold to the city instead. As for the Wonder Wheel, it’s a city landmark. So whatever happens, it will continue to roll.

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