The Barrancas de Belgrano park is where the Rio de la Plata's shore once was until they built a railway embankment in the 19th century. A lot of the city was actually built on reclaimed land and you can tell by seeing the steep drop off, like here at the Barrancas de Belgrano. What was once a drop off into the river at the shore's edge is now part of the city.
It's the same behind the Casa Rosada downtown and in San Isidro (the hill down from the main cathedral to the river, for example).
Today this is a beautiful small park in the more urban center of Belgrano, bordering Barrio Chino, a train station, and countless upscale apartment blocks.
Within the park see if you can find the Statue of Liberty replica. The gazebo is also a major hallmark of this park, hosting nightly tango milongas.