Kind of important to note that this concept is especially important since the longitudinal axis of Manhattan is not exactly north-to-south. I guess you could take a port-starboard approach, but compass directions and street names are just so much easier.
Honestly if it were on the shore there would be no end of developers clamoring to build into the park or at least along the shore edge of the park. The park would be whittled down to a few spots with a view available to thr general public. Eventually some politician would cave to campaign donations from a wealthy developer.