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Coney Island Prep will build 45,190-square-foot high school at 773 Neptune
The charter school signed a 39-year condominium leasehold and plans to expand to 500 students when it enrolls in summer 2027.
Coney Island Preparatory Public Charter School is relocating from its Gravesend, Brooklyn site to a new high school at 773 Neptune Avenue in Coney Island, according to Commercial Observer.
The school signed a 39-year condominium leasehold agreement to build a 45,190-square-foot facility, with plans to accommodate 500 students when enrollment opens in summer 2027.
Commercial Observer reports that the project is being developed under a leasing arrangement at the property owned by Elie Fouerti, where Open Impact Real Estate served as tenant broker.
As context for the move, Commercial Observer cited Cushman & Wakefield data showing average office asking rent across the borough at $51.01 per square foot in the second quarter of 2026, and Matthews Real Estate Investment Services data showing average retail asking rent in Brooklyn at $55.02 per square foot over the same period. The outlet also noted that it is unclear whether the school is part of a larger 14-story mixed-use plan on the site.