Real Estate and Apartments For Sale in Battery Park City
59 Homes and apartments in Battery Park City
Battery Park City Real Estate info
Luxury condos dominate Battery Park City’s real estate market, comprising of almost all the apartments for sale in this idyllic neighborhood. This idyllic and verdant neighborhood with a picturesque waterfront has a more tranquil and private feel than the rest of the city. When it comes to having a unique history, it’s hard to top that of Battery Park City, a planned neighborhood built on reclaimed land from the Hudson River. This has created a bit of a dilemma when it comes to the real estate in the community as there is a land lease in place, meaning that property owners, landlords, and developers do not own the land they occupy, but instead lease it from the Battery Park City Authority (BPCA) through 2069. There is quite a bit of confusion over what will happen then, as well as more near-term effects, which include rising monthly payments. This ground lease is what is responsible for the high monthly payments you’ll see in condos in Battery Park City (the neighborhood has no coops whatsoever). Real Estate sales prices are nonetheless up compared to 5 or 10 years ago, but the past year has seen a lot of uncertainty with fewer condos selling, and many listings seeing multiple price drops. Overall the market in the neighborhood is relatively illiquid due to the uncertainty over the land lease. This has made it unattractive to investors and instead attracted buyers who are typically looking to plant roots. Many of the buyers are drawn to the condos in Battery Park City due to their low selling prices, which make it easier for them to get more bang for their buck as the upfront costs are dramatically less than comparable apartments in any other Manhattan neighborhood. They do, of course, have to contend with much higher monthly condo fees and dues as well as the uncertainty of the land lease which makes working with an experienced broker who knows the area and well essential (as each building has negotiated its own individual ground lease agreement with the BPCA).
Battery Park City Real Estate Sales Trends
The median sale price for an apartment in Battery Park City is $1,986,441.
Studios in this neighborhood sell at a median price of $595,000.
One-bedroom apartments sell at an average price of $844,615.
Two-bedroom apartments command a median sale price of $1,927,919.
Battery Park City Penthouses for sale
There are currently 4 penthouses for sale in the Battery Park City neighborhood of Manhattan. Sale prices for penthouses in this neighborhood range from $1,990,000 to $8,975,000.
Battery Park City Condos for Sale
There are currently 66 condos available for sale in Battery Park City. Sale prices for condos in this neighborhood range from $475,000 to $8,975,000.
Battery Park City Co-op apartments for Sale
There are currently 2 co-ops available for sale in Battery Park City. Sale prices for condos in this neighborhood range from $1,199,000 to $1,999,999.
Townhouses and Brownstones for Sale in Battery Park City
There are currently no townhouses and brownstones for sale in this neighborhood.