The highly anticipated, $1-billion renaissance of the 60-acre Glen Cove waterfront marked a new milestone with the topping-out of The Beacon at Garvies Point, a 167-unit, LEED-certified condo complex.
“We are proud to celebrate the latest stride forward in the transformation of the long-underused Glen Cove waterfront into a vibrant, active mixed-use community,” said Joe Graziose, executive vice president of residential development and construction at RXR Realty. “We’re appreciative to both the City of Glen Cove and Hunter Roberts for their tremendous commitment to this exciting enterprise.”
The Beacon at Garvies Point—as well as the overall Garvies Point site—is being developed by RXR Realty in cooperation with the City of Glen Cove.
“The topping-out of The Beacon at Garvies Point is another point of progress that underscores over two decades of hard work, perseverance and the outstanding commitment of RXR along with federal, state and local agencies to work with our staff to help Glen Cove reclaim its waterfront,” said Glen Cove Mayor, Tim Tenke. “Through our strong partnership with RXR, we are excited to welcome new residents to our city later this year as the Garvies Point redevelopment project represents an important chapter in Glen Cove’s growth.”
City of Glen Cove officials and RXR executives were joined by representatives from Hunter Roberts, the site’s construction manager, to celebrate this construction milestone.
“The Beacon is indeed a source of light and inspiration, not only in terms of RXR’s visionary waterfront development, design, and construction but also for their genuine and enduring concerns for the beautiful marine environment at Garvies Point and the wonderful people of the City of Glen Cove,” said Will DeCamp, senior vice president of Hunter Roberts Construction Group. “This project has created hundreds of construction jobs. Hunter Roberts takes great pride in building RXR’s magnificent projects on Garvies Point and is privileged to be part of the RXR Team under the superb leadership of Joe Graziose, native son of Glen Cove.”
Scheduled to open by the end of this year, The Beacon at Garvies Point features one-, two-, and three-bedroom residences ranging from 900 to 2,850 square feet in size. The development offers a variety of outdoor spaces, including rooftop terraces at the penthouse level, courtyard terraces, and balconies on nearly every home. Additional amenities include a fitness center and yoga studio, a club lounge, a game room, a party room, a movie theater and an outdoor pool.
The condo buyer’s market has responded enthusiastically to the complex, where sales have now exceeded 45 percent. The developer has raised prices five times in response to demand, with 65 units in-contract and more than $72 million in sales. The cost of a condo at The Beacon—which originally started at $575,000—now starts at $700,000 and goes up to $3,000,000.
“The early and ongoing success of The Beacon at Garvies Point has demonstrated beyond a doubt the demand for low maintenance, high quality, community lifestyle on Long Island,” said Deirdre O’Connell, CEO of Daniel Gale Sotheby’s International Realty. “We are proud to partner with the RXR team as the exclusive marketing and sales team for this extraordinary concept in waterfront living.”
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