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November 2, 2018

The Beacon At Garvies Point: Luxury Living On Glen Cove Coast

Long Island Press recently published an article on why The Beacon at Garvies Point in Glen Cove is becoming one of the North Shore’s most desirable locations to live, work and play. Read an excerpt below about some of the features that The Beacon offers.

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In the last 13 months, more than 65 of the 167 waterfront condominiums built have been sold ahead of the development’s scheduled opening in late 2019. The Beacon offers one-, two-, and three-bedroom residences ranging in size from 900 to 2,850 square feet. Residents can also enjoy a number of outdoor spaces including rooftop terraces at the penthouse level, courtyard terraces, and balconies on nearly every home, along with a
fitness center and yoga studio, club lounge, game room, party room, movie theater and an outdoor pool.

Demand has been so high that prices have gone up three times. The cost of a condo now starts at $700,0000, originally $575,000, and goes up to $2.95 million.

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“We’ve increased the prices because the validation is there,” says Joseph Graziose, executive vice president of residential development and construction at RXR Realty, which developed the Ritz-Carlton Residences at North Hills. “When I talk validation, obviously our buyers have validated that this is a great project in a great location with a great developer and they are anxiously awaiting their move-ins.”

The Garvies Point development that started more than a decade ago will soon feature a wide array of amenities that include waterfront parks, esplanades, playgrounds, retail, restaurants and a ferry terminal. The Beacon is phase one of the project that also includes Harbor Landing, a 385-unit, two-building rental complex offering a mix of studios and one- and two-bedroom residences.

Construction is also underway on 28 acres of public open space, which includes an educational ecology pier and restored wetlands. Before the project began, the 50-acre site on Cove Creek and adjacent to the Long Island Sound was blighted land, Graziose notes.

The Beacon waterfront aerial

“It was the location of factories many, many years ago, and the property sat there for decades underdeveloped and undernourished,” he says. “We came along and put together a program. When we are all done we will end up with a 56-acre site of which over 50 percent is going to be open space with promenades, parks, walkways, dog areas.”

Graziose has a fondness for Glen Cove. He grew up there and remained there to raise his family.

“When my children were young we used to spend our days at Battery Park City and the World Trade Center area to rollerblade and picnic,” he recalls. “It gave us the environment that was water’s edge, public amenities, and a communal feel. If this existed when I was building I would have saved a lot of gas and stayed in Glen Cove…I am very proud of what we’ve accomplished.”

The entire Garvies Point project is set to be completed over the next three to five years, says Graziose, but The Beacon will open in December 2019.

Read the full article here.