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The city is looking for the next business to take over the iconic Coney Island Cyclone just in time for its blockbuster 100th birthday — even though the landmark ride has been losing cash over the years.
The city Parks Department started accepting bids this week for the rare opportunity to run the beachfront amusement attraction and other nearby rides for the next two decades, a job that will likely call for pumping lots of cash into the aging infrastructure.
“We’re thrilled to be releasing this [Request for Proposal] as the Cyclone approaches its centennial in 2027,” a spokesperson for Parks said in a statement.
“Since opening in 1927, the Cyclone has been a beloved iconic destination, and we look forward to seeing it continue to serve and delight the Coney Island community for the next 100 years.”
The winning bidder will have control of the Parachute Jump, which has been defunct since 1964, but which can be used to display personal messaging for proposals, birthdays and more for some extra revenue.
The messages would be subject to approval by Parks, which warns that no “obscene, indecent or profane” or discriminatory messaging is allowed, and the ride cannot be used as an advertising space.
The extra money could come in handy, considering sales for the Cyclone have decreased annually over the past four summers.
Last year, Central Amusement International, the developer behind Luna Park, raked in $2.2 million, with a $265,000 annual fee going to the Parks Department, according to the bid. The ride had a $330,000 loss between 2022 and 2025.
The new concessionaire could erect new food spots, games and rides in the shadow of the Cyclone and Parachute to raise funds, though the city has set maximum prices on the grub: a hot dog can’t cost more than $4, an apple must cost at most $1 and a can of seltzer must be $2 or less, the proposal states.
But buyers beware — the Cyclone needs a lot of work.
The 99-year-old wooden roller coaster needs continuous maintenance and upkeep, and proposers need to include a capital plan for tackling the inevitable costs for repairing bracing, brakes, safety equipment and more “as needed.”
The ride was temporarily shut down in 2024 when the train’s chain cracked in the middle of an ascent.
There are a few musts included on the RFP, however — the new operator will need to restore the ticket booths to be ADA compliant; replace the entrance gates; convert all lighting to LED; and give many structures a much-needed paint job.
The Parachute Jump will take a lot less work. The new owner is only obligated to conduct a survey on the structural integrity of the ride.
CIA has operated both the Cyclone and the Parachute Jump since 2011, and pumped $2 million into the Parachute to adorn it with the elaborate lights that have transformed the defunct ride into the coastline landmark.
It is not clear if the company intends to apply for the bid. Representatives did not return requests for comment.
The bidding comes amid a slew of planned improvements for Coney Island, including an incoming $1 billion makeover for the dishelved Riegelmann Boardwalk, which was announced by Mayor Eric Adams last year but has yet to begin.
The neighborhood got its first-ever Business Improvement District this year, which plans to use $1 million of city investment to beautify the area.
