The Rise of Coney Island Some incidents stand out as cautionary tales in the history of American finance, serving as a constant reminder of the vulnerability of our economic institutions. One such instance was in the bustling Coney Island neighbourhood, when a massive apartment building project almost caused a general panic by sending shockwaves across the financial sector. Let's explore the intriguing tale of the apartment block in Coney Island that was on the verge of going bankrupt.