Battery Park City
To the west of West Street – and south of where Duane Street would be if it crossed Greenwich Street – is the one-of-a-kind Battery Park City. Created partly from landfill that was leftover from the construction of the World Trade Center and completed in 1979, Battery Park City (BPC) is what you would get if you built high-rise apartment buildings in the middle of Central Park.
BPC is convenient to many schools and it offers plenty of G-rated entertainment, similar to what you would find at a shopping complex in the suburbs. The name Battery Park isn’t just for show, either: one-third of BPC is parkland, making it the perfect place for those who are active in sports. The best homes in BPC are well-known for offering jaw-dropping views of the Hudson River, the Statue of Liberty, and Ellis Island, and they generally fall somewhere between the nearby Financial District and Tribeca in terms of affordability.
Buyers should be aware that homeowners in Battery Park City do not pay property taxes to the city, and instead make what is known as a ‘payment in lieu of taxes’ (PILOT). Buyers are advised to choose an attorney who is familiar with BPC specifically to help navigate the differences. But don’t let this scare you away: no other neighborhood in New York City offers what Battery Park City offers to its residents, and those who fall in love with its charms will not want to live anywhere else in Manhattan.