The city Parks Department is now accepting bids to operate the Coney Island Cyclone for the next twenty years.
The 99-year-old wooden roller coaster, which turns 100 in 2027, has been bleeding money. Between 2022 and 2025, the ride posted a $330,000 loss even as Central Amusement International, its operator since 2011, collected $2.2 million in sales last year alone and paid the city a $265,000 annual fee. The winning bidder will also take control of the nearby Parachute Jump, a defunct ride that has not carried passengers since 1964 but now functions as a lighted landmark where personal messages can be displayed for proposals and birthdays.
“We’re thrilled to be releasing this [Request for Proposal] as the Cyclone approaches its centennial in 2027,” a Parks spokesperson 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 revenue from the Parachute Jump’s messaging service may help offset the Cyclone’s declining fortunes, though Parks will vet every submission. No “obscene, indecent or profane” or discriminatory content will be permitted, and the structure cannot be used for commercial advertising. CIA invested $2 million to outfit the Parachute Jump with the elaborate lighting that made it a nighttime fixture of the Brooklyn coastline.
The new operator faces a steep repair bill. The Cyclone needs continuous maintenance, and bidders must submit a capital plan covering inevitable costs for bracing, brakes, safety equipment and more. The aging coaster’s vulnerabilities were laid bare in 2024 when the train’s chain cracked mid-ascent, forcing a temporary shutdown.
Parks has attached strict conditions to the concession. The ticket booths must be brought to ADA compliance, entrance gates replaced, all lighting converted to LED, and multiple structures repainted. The Parachute Jump demands far less: only a structural integrity survey is mandatory.
Food pricing caps add another constraint. A hot dog cannot exceed $4, an apple tops out at $1, and canned seltzer must sell for $2 or less. The new concessionaire may build additional food stands, games and rides near both landmarks to boost revenue.
The bidding arrives as Coney Island sees broader investment. Mayor Eric Adams announced a $1 billion overhaul of the Riegelmann Boardwalk last year, though work has not started. The neighborhood also gained its first Business Improvement District this year, backed by $1 million in city funds aimed at beautification.
Whether CIA, the Luna Park developer that has run both attractions for fourteen years, will seek to keep them remains unknown. Representatives did not respond to requests for comment.
The RFP opened this week.