EWR LCL CTLR ALERTS C172 PLT THAT CLRNC TO LDJ FROM VERRAZANO BRIDGE WAS AT 'EXCLUSION' ALT OF 800 FT; NOT 1000 FT AS OBSERVED.

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WHILE UNDER FLT FOLLOWING AND CLRED INTO THE CLASS B; I WAS GIVEN A CLRNC 'CAUTION WAKE TURB; B757; CLRED FOR THE EXCLUSION.' THE FLT WAS FROM UPSTATE NY TO LDJ AND WAS DOWN THE HUDSON RIVER TO VERRAZANO BRIDGE AND NEWARK TWR WOULD CALL MY TURN TO THE W FOR LDJ. THE EXCLUSION AIRSPACE IS 800 FT MSL. AFTER I RECEIVED THE CLRNC; I ADVISED NEWARK TWR THAT I WOULD NEED A 360 DEG TURN TO AVOID WAKE TURB FROM THE B757 THAT WAS LNDG AT EWR; AND WAS APPROVED BY THE TWR. DURING THE 360 DEG TURN; THE TWR CALLED ME AND STATED THAT I NEEDED TO BE AT 800 FT MSL. I WAS AT 1000 FT MSL. I DSNDED TO 800 FT MSL. THE REASONS THAT I BELIEVE THIS POSSIBLE VIOLATION OF THE AIRSPACE OCCURRED ARE THAT I DID NOT COMPLETELY UNDERSTAND THE CLRED FOR THE EXCLUSION; AND I WAS TRYING TO KEEP SOME ALT FOR POSSIBLE WAKE TURB THAT I MAY ENCOUNTER. LDJ IS AN ARPT THAT I HAD JUST BECOME BASED AT AND HAD NO EXPERIENCE IN LNDG FROM THE E. NO LOSS OF SEPARATION WAS CAUSED; I HAD A VISUAL ON THE 2 ACFT THAT WERE LNDG AT EWR. THE TWR HAD CALLED OUT THIS TFC TO ME. I HAVE DISCUSSED THIS AIRSPACE WITH AN INSTRUCTOR TO UNDERSTAND THE EXCLUSION CLRNC AND SURROUNDING AIRSPACE.