Can I just get a few opinions of this "new" hotel opening this month in Battery Park? We've gone to New York four times now and stayed at some comfortable hotels in Manhattan. I love Manhattan but I was thinking of maybe trying another section of New York. Their website is offering standard rooms (king or 2 doubles) for $199.00 a night during February. Will this be to far from everything? The website indicates free shuttle service to Manhattan. I thought maybe we could stay there and just spend most of the day walking around Manhattan.

It's probably a great hotel but definitely out of the way. A several block walk to the nearest subway and probably not as many taxis around as you would have from most other areas in Manhattan. Taking a taxi from somewhere else to the hotel, would not be a problem. If the shuttle schedule fits your schedule, that may be fine. My guess is the hotel will be a step above most other rooms for the same cost because of the location. It is quiet down there and not too much going own. The nearest restuarant neighborhood would be tribeca which may be about a 1/2 mile away.

That area of town gets desolate after 6 pm and on weekends. In my opinion, it's a little too far away from anything to be enjoyable.

One thing you would be near is "ground zero." I agree this location would be too out of the way for a visitor. I imagine the hotel was expected to serve people with business at the World Financial Center. (And that it will, in time.)

I say don't stay there until you've checked it out in person, how you'd feel down there. Right now I would guess that you can't even get TO the usual subway station for that area by the usual routes.

Echoing what everyone else has said here: too close to ground zero, too far from everything else. You don't want to rely on shuttles (BTW you would still be in Manhattan, so it would be odd if it said shuttle to Manhattan-probably said 'midtown')
Also, Though I know it seems like a good rate for a Ritz, Lots of hotels in NYC have special rates through February or even March. In tomorrows NY Times (parts of which are delivered a day early, including the travel section)There are ads for the following:
Paramount $145; Hudson $175 -- both buy one get one night free.
Morgans $235 Royalton $275-- buy 2 nights get one free
Radisson Lexington $159
Mayflower $139 for "deluxe room"
NY Palace $299 for room and lunch at Le Cirque.

Thank you everyone! It was a much appreciated response. I guess we won't stay there since everyone says it is just to far from everything. I actually get the New York Times delivered on Sunday's so I'll check tomorrow for a different hotel in a better location. Thanks!