The web page does a very poor job at describing the action and the course. They simply say "between the Pier 25 Basin to Battery Park. Check out this sail-nyc website to see the actual course.
http://www.sail-nyc.com/americas-cup-and-classic-harbor-line/
From the Jersey side, I will amend my thinking. Liberty State Park is maybe too far away. In Jersey City, it looks like the Hudson River Waterfront Walkway at the Hyatt Regency pier is the closest location to the leeward gate. There is also a very nice little pier at J. Owen Grundy Park (I've had lunch there a few times). Grundy Park is the reverse "L" shaped pier just opposite the leeward gate. The walkway all along the river front (even at the Hyatt Regency) is public space and right on the river. It looks like a prime location for watching the leeward gate.
The schedule calls for 3 races from 2 pm to 3;30. That's 3 races in an hour and a half. How is that feasible? Each race must take 20 to 40 minutes, no? How do they manage starts in so little time? Does each team just race in one race per day and there are 3 heats with separate teams? That's the only way that makes sense to me. Here is hoping for some wind ... not like yesterday when the river was glassy all afternoon!
If Sue and I can find time to go, we will watch from Jersey City.