By Julian Nazar
September 10, 2026
A rendering of Coney Island Prep's new high school campus, which is expected to be completed in the summer of 2027. (Rybak Development)
After 13 years in Gravesend, Coney Island Prep has signed a lease to move the high school nearly two miles closer to its namesake home.
Coney Island Prep will occupy a new, roughly 45,200-square-foot space at 773 Neptune Ave. in Coney Island that features, among other things, a rooftop and backyard play areas, a suite of specialty classrooms including science labs and other program-specific spaces, and a new commercial kitchen, according to an announcement from the brokerage that facilitated the deal. The school is expected to move into the space in the summer of 2027.
Coney Island Prep’s high school campus has been located in a 30,000-square-foot space at 294 Ave. T in Gravesend since 2013.
The lease is for 39 years. Asking rent was not disclosed by the brokerage who facilitated the deal.
OPEN Impact Real Estate’s Alexander Smith and Stephen Powers represented Coney Island Prep in the transaction. The landlord, Elie Fouerti, had in-house counsel in this deal.
“This project gives Coney Island Prep the room and resources to keep pace with its students’ ambitions,” Smith said in a statement. “We set out to find a long-term, affordable solution that would reflect the school’s mission and strengthen its presence in the Coney Island community. Securing this off-market opportunity will allow Coney Island Prep to expand its enrollment and deliver purpose-built facilities for years to come.”
Coney Island Prep has two elementary schools, one middle school and one high school in its portfolio. These four campuses serve more than 1,300 students.
Rybak Development is currently building Coney Island Prep’s new high school campus, which will be delivered as a turnkey education facility.
“Communities are not only built around housing,” said Sergey Rybak, president of Rybak Development. “They are built around greater social impact of institutions, such as schools. We have gotten to know how Coney Island Prep operates as a charter school by visiting their other locations, and we are very pleased that they have chosen us as their development partner because I feel that their mission really aligns with the long-term success of Coney Island and South Brooklyn in general.”
This isn’t Rybak’s only project in the neighborhood.
He filed plans in July for a 28-story, 527-unit building at 2108 Surf Ave. as part of his Tilyou Towers project, which includes a pair of 28-story buildings, 315 parking spaces, three retail units, a health and fitness center, a dog spa, outdoor terraces and a rooftop pool.