Pros -
Flat. This is about as flat a course as you will ever find.
Scenery - Liberty State Park affords great views of Manhattan and the Statute of Liberty.
Accessible - Parking (for the NYC area) and public transportation are great.

Neutrals -
The start time. Nice to sleep in a bit for a race but in 2018 was very hot. Cannot control the weather obviously but an earlier start time could help vs the late start.

Cons -
Temps - Mid 80s race temp in 2018. I love hot weather running but be aware September in this area can be summer-heat warm.
No shade - related, but don't think that running a portion through Liberty State Park means shade. It doesn't.
Spectator support - for a dense area 10 minute PATH ride from NYC, not many people out to cheer.