Battery Park Landlease Snafus

If you've ever wondered why the heck taxes are so high in BPC, check out this very helpful article from Crain's, which summarizes the whole landlease situation and has a useful list of BPC buildings and their specific landlease status.

Although the article mentions that the high monthly payments that many owners in Battery Park have to endure as a result of the landlease are "priced in" to the sales of the units, we've really only seen this at the Cove Club (2 South End Avenue), a decent building where sales have recently been running at around $670/sq ft.

Other buildings (particularly 21 South End Avenue) remain remarkably overpriced given the monthly carrying costs.