The very last scene in Cloverfield is of the 2 main characters at a fair ground, by the sea.

Something falls out of the sky & into the sea behind them.

This was recorded almost a full month (according to the date on the camcorder) before the monster attack on NY, so what is the significance of this & secondly, where is that sea, as it doesn't look like NY?

You spotted it.

I think they are at the Coney Island Fair, outside of New York City.

I think its believed that the splash could be the monster coming from whereever.

New York is an island surrounded by water, that is where the thing crashed landed, and it supposed to be the monster...

Thanks for that guys, although I was always led to believe that it was an aquatic monster from Earth.

That explains it then; thankyou chaps.