Here we have another enigmatic parcel of land belonging to the Port Authority. Regarding the previous one — that mysterious hill over by the Rikers Island Bridge — I received an email from a current PA employee saying that the hill is known internally as Ingram's Mountain, and that it was supposedly created from the rock excavated during the construction of the Lincoln Tunnel's third tube.
This looks too fresh to be its original paint job. It must have gotten a new coat sometime in the years since.
This little cemetery just underwent a pretty thorough cleaning a few months ago. (There are headstones back there, but they're tough to see without zooming in.)