The Cyclone and other Luna Park attractions are expected to remain closed for the rest of the day as crews continue to dismantle the wobbly Astrotower.
Councilman Daniel Recchia Jr. told The Daily News that a decision has been made to demolish the structure.
"Eventually the whole Astrotower will be coming down," Recchia said. "It's a sad day for Coney Island to see the tower come down like this, but that is our goal."
It is not clear how long the demolition will take and when the park will fully reopen.
The area is expected to lose hundreds of thousands of dollars in business due to the closures, The News reports.
Officials emphasized that many areas are still open, including Deno's Wonder Wheel Park and the Scream Zone.
Metro's original story is below.
Crews worked overnight to dismantle the Astrotower at Luna Park in hopes of reopening the park in time for the July 4th holiday. The Cyclone and other attractions remained closed on Wednesday after safety concerns over the swaying 270-foot tower forced an evacuation on Tuesday.
"We're going to do everything we can to keep this park open," Buildings Commissioner Robert LiMandri said.
A decision was made to remove a portion of the Astrotower on Wednesday.
Luna Park officials were awaiting a final recommendation from the Department of Buildings before determining whether the park would reopen for the holiday.
The park was evacuated after reports that the structure was swaying. Although it has been known to sway in the past, officials said the swaying was more "pronounced" than usual the past few days.
The elevator inside the tower was recently removed, officials said. The missing weight from the elevator could cause the extra sway.
The Scream Zone, the Coney Island Raceway and the B&B Carousell were operating normal hours, but the Cyclone and the area adjacent to the Cyclone remained closed on Wednesday night.
Coney Island still plans to host the annual Hot Dog Eating Contest at Nathan's, Fourthfest at MCU Park, live music at Place to Beach and free fireworks on Thursday.
The Astrotower was built in 1964 and hasn't been in use since at least 2008.