On average, listings lease in the $50's per square foot per year. The Coney Island region is seeing a a boost in rates. In the last 3 months, the median rate increased $38 per sqft per year. That's a 173% rise in rent.
Compared to the rest of the New York City market, the Coney Island submarket has less expensive rates, so you should have no trouble finding a great deal in this undervalued submarket.
In the last 90 days, 6 listings have been posted online, which means listings might be going fast. 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 19,300 sqft, there are still 0 new availabilities below 2,000 sqft. Most buildings in this region are close to 2 stories. 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 market. Commute by bike is the most popular way to get to work amongst Coney Island occupants. Commuting close to 15 minutes a day is the norm for those who opt to reside in this part of town.