Coney Island Cyclone Seeks New Operator as Iconic Ride Nears Centennial
The city is seeking bids for a 20-year lease of the historic Cyclone roller coaster and the defunct Parachute Jump, with potential for new attractions and revenue streams.
The New York City Parks Department has opened the bidding for a new operator to manage the iconic Coney Island Cyclone and the long-defunct Parachute Jump amusement attractions. The request for proposals (RFP) initiates a 20-year lease period, coinciding with the Cyclone's approach to its 100th anniversary in 2027.
The winning bidder will be responsible for the operation and maintenance of the historic wooden roller coaster, which has faced declining revenue in recent years. Last year, Central Amusement International, the current operator and developer of Luna Park, generated $2.2 million from the Cyclone, paying the Parks Department a $265,000 annual fee. However, the ride incurred a $330,000 loss between 2022 and 2025.
The RFP outlines requirements for significant capital investment in the aging infrastructure of the Cyclone. Bidders must present a plan for ongoing repairs, including bracing, brakes, and safety equipment. The roller coaster experienced a temporary shutdown in 2024 due to a cracked chain. Additionally, the new operator must ensure ADA compliance for ticket booths, replace entrance gates, convert lighting to LED, and repaint various structures.
In addition to the Cyclone, the lease includes the Parachute Jump, which has been non-operational since 1964. The new concessionaire may utilize the Parachute Jump for displaying non-obscene, non-discriminatory personal messages for events like proposals or birthdays, subject to Parks Department approval, but not for advertising.
The RFP also permits the erection of new food stands, games, and rides within the vicinity of the Cyclone and Parachute Jump. However, price caps are in effect for certain items: hot dogs cannot exceed $4, apples $1, and canned seltzer $2.
Central Amusement International has operated both the Cyclone and Parachute Jump since 2011. During their tenure, they invested $2 million in lighting for the Parachute Jump, transforming it into a visual landmark along the coastline. It remains unclear if they will submit a bid for the new contract. Representatives for the company did not respond to requests for comment.
The bidding process occurs as Coney Island is slated for broader revitalization efforts. Mayor Eric Adams announced a $1 billion makeover for the Riegelmann Boardwalk last year, though construction has not yet commenced. The neighborhood also recently established its first Business Improvement District, backed by $1 million in city investment aimed at beautifying the area.