The downside is that to buy, the carrying cost of common charges and taxes are double compared to other parts of Manhattan. This is because Battery Park is on leased land. People who live in Battery Park feel that the lifestyle it affords outweighs the higher carrying costs. This is also why Battery Park has one of the highest household incomes in Manhattan.
Wei Min Tan is Founder of Castle Avenue Partners in Manhattan, New York. He serves both local and foreign clients interested in buying condominium apartments in Manhattan. He was most recently featured in New York 1 News on Hiring a Buyer's Broker.