From the October issue: Despite its prime waterfront location and its disproportionate amount
of cutting-edge “green” architecture, Battery Park City is getting
slammed by the downturn more than many other Manhattan neighborhoods. Stephen and Mary Lacoff, for instance, have been trying to sell their
1,158-square-foot two-bedroom at 2 South End Avenue for more than a
year now. Despite dropping the asking price from $1.385 million to
$999,000, they’ve received no offers. The apartment — which, like everything in Battery Park City, is in a
land-lease building — has some of the higher ground rents in the area,
contributing to common charges of $2,003 a month, or $1.74 a square
foot. “There has been some intermittent interest, but no offers,”
Stephen Lacoff said. “What I’m taking from that is there’s not a huge
demand.”

Left to right: PA Executive Director Christopher Ward, Mayor Michael Bloomberg, Larry Silverstein

Mayor
Michael Bloomberg invited developer Larry Silverstein and executives
from the Port Authority of New York and New Jersey to meet with him and
other elected officials to discuss the World Trade Center stalemate
next week. Silverstein asked the authority to help finance two of the
towers, and the authority offered to buy back one tower, but its
officials have said that aiding both would stress the agency’s balance
sheet. If there isn’t an agreement, the rebuilding schedule will be
off, and the memorial might not be ready by the 10th anniversary of
Sept. 11, 2001. [more]