Battery Park City is a planned community at the southern tip of Manhattan that experienced a major rebirth following 9/11 for both commercial and residential real estate. As Battery Park City evolved, so did One Rector Park, transforming from a 1985 rental building to gut-renovated condos in 2011. Prolific NYC architect Costas Kondylis, the go-to for luxury developers like Donald J. Trump, spearheaded the conversion, and the contemporary architecture blends in with surrounding buildings. Its 174 units span 15 floors and feature washers and dryers, a rarity for neighborhood buildings. Jessica Weitzman, an experienced broker with Corcoran, has lived in Battery Park City since 2007 and has sold 15 units in One Rector. “It’s an optimal location in Battery Park,” she says, since “it’s sandwiched in between Rector Park and the Esplanade.”
Units range from 550-square-foot studios to 2,000-square-foot four bedrooms, with prices ranging from $770,000 to $3.5 million. There are also three ground-level townhomes with two floors and private entrances, including enough space to park a small car. These are priced around $3 million. Weitzman notes that units here are a bit larger compared to similar buildings in the area. Chef’s kitchens opening up to the living area are standard, as are built-in microwaves and Bosch appliances, including washers and dryers. Some units also offer kitchen appliances from Liebherr and Miele, while marble counters and upgraded cabinets are more likely in higher-end units. Smaller units are designed with floor-to-ceiling windows, and some even overlook the Hudson River, while others take advantage of World Trade Center views. Select units have the added benefit of balconies – another less common feature for Battery Park buildings – that are large enough for bike storage, an important consideration when the 12-mile-long Esplanade is half a block away and extends all the way north to the George Washington Bridge.
Barbara Ireland, a global real estate advisor with Sotheby’s, is also a Battery Park resident, and has sold several units here. “A hallmark of the building is that it’s well maintained,” she says. One Rector covers residents’ needs, making it possible to stay close to home while fitting in a workout in the light-filled gym overlooking the park, getting the kids out of the apartment thanks to a spacious children’s playroom on the lower level or relaxing with a book and drink in the private first-floor lounge area, which is getting another upgrade. It might seem outdated, but the building’s business center, complete with two computers and a printer, is usually in use. A full-time doorman and concierge add convenience and security, as does on-site parking for an additional fee. Bike storage is available as well, freeing up balconies for al fresco dining.
It’s hard to beat One Rector Park’s location across from both Rector Park, a small, manicured greenspace, and the waterfront Esplanade, a popular pedestrian path with views of the Statue of Liberty and New Jersey across the way. This residential pocket tends to be quiet since it’s removed enough from the 9/11 Memorial, a major tourist destination, but close enough to the likes of Brookfield Place for its convenient food court and upscale shops. A growing number of young families have moved to Battery Park in recent years, and neighborhood amenities, including daycares and indoor play spaces, reflect that as well.
“All transportation merges down here; I can get anywhere in 30 minutes,” says Weitzman, and it’s not much of an exaggeration. Nearby in the Financial District, the R, W trains stop at Rector Street, the 4, 5 lines stop at Wall Street, and the Oculus at World Trade Center, home to 12 lines and PATH trains to New Jersey, is about a 10-minute walk north. Also close? The West Side Highway and FDR Drive for accessing the east side. Add in the Battery Park City Ferry Terminal for water taxis to Midtown West and the South Ferry Terminal for the Staten Island Ferry and ferries to Governor’s Island. Not least, bike commuters can grab a Citi Bike rental and hop on the Esplanade.
Common charges tend to be higher in Battery Park City due to PILOT payments – payment in lieu of taxes – which replace property taxes, and land lease terms, meaning buildings are not on owned land. Weitzman estimates common charges at about $275 per square foot. Many owners tend to rent instead of selling units, which can add to a transient feel. Also, not as many units for sale come on the market here. Pets under 25 pounds are allowed.
One Rector Park is a condominium located in Manhattan and the 10280 ZIP Code. This area is served by the Manhattan County attendance zone.
