Despite controversy, several delays, and a $30 million crowdfunding attempt, the New York Wheel is projecting major first-year revenue. According to The Real Deal, developers of the 630-foot Staten Island ferris wheel expect to bring in a staggering $127.85 million in 2017, a figure that will make it more lucrative than the Empire State Building’s observation deck, which raked in $111.5 million last year. Of the total revenue, $96 million is projected to come from admission fees (which come in at $35 a person, as compared to the Empire State Building’s $32); $10 million from sponsorships; and $8.7 million from gift shop sales. And if you’re impressed by these numbers, annual revenue will likely grow to $166.52 million by 2021!
As TRD reports, “Those lofty projections rely on the attraction drawing more than 4 million customers in 2017, and 3.5 million customers per year in successive years. By comparison, the Empire State Building observatory draws around 4.3 million visitors per year, while the Statue of Liberty and Top of the Rock draw 3.5 million and 2.5 million, respectively.”
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Neighborhoods : Staten Island