Battery Park City Market Trends

Battery Park City is a 92-acre planned community at the southwestern tip of Lower Manhattan in New York City, United States. The land upon which it stands was created by land reclamation on the Hudson River using over 3 million cubic yards of soil and rock excavated during the construction of the World Trade Center, the New York City Water Tunnel, and certain other construction projects, as well as from sand dredged from New York Harbor off Staten Island. The neighborhood, which is the site of the World Financial Center along with numerous housing, commercial and retail buildings, is named for adjacent Battery Park.
Battery Park City is owned and managed by the Battery Park City Authority, a public-benefit corporation created by New York State under the authority of the Urban Development Corporation. Excess revenue from the area was to be contributed to other housing efforts, typically low-income projects in the Bronx and Harlem.
Under the 1989 agreement between the BPCA and the City of New York, $600 million was transferred by the BPCA to the city. Charles J. Urstadt, the first Chairman and CEO of the BPCA, noted in an August 19, 2007 op-ed piece in the New York Post that the aggregate figure of funds transferred to the City of New York is above $1.4 billion, with the BPCA continuing to contribute $200 million a year.

Currently, the average rents in this neighborhood are approximately:

Bedrooms Average Rent
Studios $2,920
1 bedroom $3,395
2 bedrooms $5,124
3 bedrooms $6,374
Listing Price Bed/Bath

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