We stayed at this park in October of 2008, and while it can get noisy (we were there on a weekend), our stay was just fine. It is basically an asphalt parking lot with spaces and hookups, right on the water. It is a stone's throw from a busy ferry that goes directly to Manhattan, and right at the edge of Liberty Park.
Be sure not to miss the street that goes to the campground; there was construction on both streets when we approached, and we missed the turn. That is a very busy neighborhood, parking on both sides of the street, and it was a horror to get around and make another try! (We are 40 ft and towing a Jeep).
Hope this helps.