On average, listings lease in the $20's per square foot per year. The Coney Island region is experiencing a decline in rates. In the last 3 months, the median rate fell $38 per sqft per year. That's a 64% decline in rent.
Compared to the rest of the New York City market, the Coney Island region has smaller rates, so you should have no trouble finding a great deal in this discounted submarket.
In the last 90 days, 5 listings have been listed, which means leases are probably leasing quickly. You'll want to be prepared to make an offer immediately. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
Even though the median size is 3,000 sqft, there are still 0 new listings below 2,000 sqft. Most properties in this market are around 2 floors. Most buildings in this market were built in 1931 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Arts, entertainment, and restaurants are the dominant industries in this area. Commute by bike is the most popular way to get to work amongst Coney Island folk. Commuting approximately 15 minutes a day is the norm for those who opt to reside in this part of town.