As Jim Jarmusch put it in the documentary Blank City, the address is roughly between Bowery, Avenue B, 14th Street and Houston. This area of the city is steeped in art, film, and music history; so many hugely influential artists, film makers, and musicians still live and work here. For such a small area, I think it's had more concentrated influence on contemporary art and culture than anywhere else.
Coney Island is the best for everything - the beach, the rides, the beer - but mostly for the Skee Ball. It's incredibly addicting, affordable and satisfying (depending on your aim).
The best selection of photography books...From novelties to rare out of prints. They are also publishers and organize books signing with photographers such as Juergen Teller or Taryn Simon.