The Real Deal New York

RXR Realty’s $1B waterfront development The Beacon tops out in Glen Cove

March 04, 2019 03:18PM

The Beacon at Garvies Point, a $1 billion waterfront development from RXR Realty in Glen Cove, is one step closer to opening its doors, having recently topped out, said a spokesperson for the Uniondale-based developer. When completed by the end of this year, the Beacon will have 167 units ranging from between 900 and 2,850 square feet. The condo complex has already garnered much anticipation, with 65 apartments in contract totaling more than $72 million in sales, according to Multi-Housing News. The Beacon held a topping out ceremony on Feb. 22 with executives from RXR, Glen Cove city officials and representatives from construction manager Hunter Roberts touting the completion of its first phase. Nearly half of all Beacon units have already been sold, prompting RXR to raise prices five times to meet demand. The development will also have rooftop and courtyard terraces, balconies on nearly every unit, fitness facilities, a lounge, a game room, a movie theater and pool. The broader Garvies Point development in Glen Cove, a suburb at one time part of the so-called Gold Coast on Long Island’s North Shore, will have 75,000 square feet of commercial and retail space with amenities sprawling across 28 waterfront acres. [MHN]