Prior to its renaming in 1988, Buono Beach was called Penny Beach. Although the origin of that name is unknown, the New York City Department of Parks and Recreation surmises that the beach was named for either the original name of Hylan Boulevard (Pennsylvania Avenue), or because the beach was once a "lovers' lane" where couples would toss coins into the harbor while making wishes.[2]
The park was damaged by Superstorm Sandy in 2012, and a large section of the park along Edgewater Street was closed for several years due to damage,[3] but it reopened in 2016.