A one-bedroom at The Beacon at Garvies Point currently opens at $799,000, and a three-bedroom can reach $1,699,000. Those are the numbers a buyer sees on the portals, and they are the least interesting numbers in the transaction.
The more useful question is what the second and third lines of the offering plan look like, because at Garvies Point the headline price is stacked on top of common charges, Glen Cove property taxes, and a neighborhood that is still under construction around the unit you would be buying. Buyers who model this carefully often end up choosing a different unit than the one that first caught their eye, and sometimes a different building altogether.
What sits on top of the purchase price
The Beacon is a 2019-2020 condominium building of about 167 residences at 100 Garvies Point Road. Because it is only a few years old, its resale inventory now trades alongside the sponsor's remaining new-construction units, and both carry the same fee structure.
Three costs deserve their own line on a spreadsheet before a Beacon offer makes sense:
- Common charges. Active listings at The Beacon this spring have shown monthly common charges ranging from roughly $1,082 for a smaller one-bedroom to $2,206 on larger residences, with two-bedroom units clustering near $1,100 to $1,900. Those fees fund the 24-hour concierge, fitness center, yoga studio, resident lounge, screening room, seasonal heated pool, and outdoor kitchens the sponsor markets as resort-style amenities.
- Glen Cove property taxes. A representative two-bedroom listing at Unit 1325 shows annual taxes of $20,190, or about $1,683 per month, against monthly common charges of $1,132. Combined, that is roughly $2,800 of monthly carry before the mortgage.
- Financing at current rates. Long Island mortgage rates have been holding near the mid-6% range through the first half of 2026. On an $895,000 two-bedroom with 20% down, principal and interest alone will land around $4,500 a month, which means an all-in monthly payment north of $7,000 is realistic before insurance.
None of that is hidden. It is simply not what a buyer absorbs when scrolling a listing photo of the marina at sunset.
The resale-versus-sponsor squeeze inside one building
The more subtle friction at The Beacon is that a buyer today is choosing between two categories of inventory that live at the same address.
The sponsor, RXR, is still selling remaining new-construction residences in the building, with pricing published from $799,000 to $1,699,000 across one- to three-bedroom layouts. At the same time, owners who closed in 2020 and 2021 are now listing resales. As of spring 2026, that resale pool has included units like a 2BR at $895,000 listed in April, a 2BR at $947,000, a $949,000 north-facing 2BR at 1,406 square feet, and a $799,000 unit on the higher floors.
For a buyer, the tradeoffs are real and specific:
- Sponsor units come with the developer's punch-list process, transfer tax treatment that typically falls on the purchaser in a new-construction contract, and first-owner status on finishes that have not been lived in.
- Resale units skip the sponsor closing costs, sometimes include upgrades a first owner paid to install, and give a buyer real comparables inside the same building rather than a price sheet.
- Both draw from the same amenity pool and the same common-charge budget, so the choice is essentially about closing mechanics and finish condition, not lifestyle.
Sellers on the resale side are also competing directly with a well-capitalized sponsor who controls the marketing narrative in the building. That is a listing-strategy problem, and it is a specific reason a resale owner at The Beacon benefits from an agent who has actually walked the sponsor inventory and can price against it.
What is still being built around you
Garvies Point is a 56-acre former brownfield site, and the master plan is far from finished. The Long Island Regional Planning Council describes the full buildout as 1,110 residential units, 50,000 square feet of commercial office, and 25,000 square feet of retail, restaurant, and cultural space, with roughly 27 acres of open space.
Two of the residential pieces are already delivered. Harbor Landing brought 385 rental apartments and Village Square added 146 more. A third project, The Arden, broke ground on February 2, 2026 at 100 Dickson Street. It is a five-story, 101-unit rental building designed by BHC Architects and developed by RXR with the Chuo-Nittochi Group, adding another 2,400 square feet of ground-floor retail and its own pool, courtyard, and pergola.
That timing matters for a Beacon buyer in two directions.
On the upside, the retail and food-and-beverage spaces still coming online will materially change what "walking distance" means from the building over the next few years. The one-mile waterfront esplanade, marinas, dog park, and connection to the 62-acre Garvies Point Preserve are already open, but the ground-floor restaurant and café space is filling in unevenly.
On the downside, buyers closing in 2026 should assume active construction sightlines and truck traffic on Dickson Street and Herb Hill Road through the Arden build cycle. That is a legitimate factor when comparing a north-facing unit at The Beacon looking toward the preserve to a south-facing unit looking into the developing side of the site.
The ferry that is not yet a ferry
RXR's own master plan description still lists "access to Glen Cove's Ferry Terminal and future commuter ferry service to New York City" as one of the community's public amenities. The word to read closely there is future.
Glen Cove ran a successful temporary ferry to Wall Street and East 34th Street in 2017 during LIRR summer repair work, and the terminal at 73 Garvies Point Road remains in place. There is not, as of mid-2026, a regular daily commuter ferry to Manhattan operating from that terminal. A buyer who is underwriting the purchase on the assumption of a Manhattan ferry commute is underwriting a plan, not a schedule.
The LIRR at Glen Cove and Glen Street stations remains the actual daily commute, and both are a drive from the waterfront rather than a walk.
Where this leaves a Glen Cove buyer
Glen Cove's broader market has been steady through the first half of 2026, with a rolling three-month median sale price of about $785,000, roughly 59 days on market, and modest year-over-year price appreciation. The single-family and condo markets have moved in the same direction, but they answer different buyer questions.
The Beacon at Garvies Point is not really competing with a Colonial in the school district. It is competing with the idea of a lock-and-leave lifestyle for a downsizer, a second-home buyer, or a professional couple who wants the water and the amenities without the roof, the lawn, or the boiler. Priced that way, the common charges and taxes are the point, not an obstacle to it. Priced against a single-family with a mortgage and no HOA, they will always look expensive.
The thesis is simple. At Garvies Point, the list price is the beginning of the underwriting, not the end of it, and the smartest buyers spend more time on the fee schedule and the construction map than on the finish package.
FAQ
Are Beacon units approvable for standard financing? Yes, they are conventional condominiums with recent construction dates, and most major lenders have already reviewed the project. Ask your lender to confirm current warrantability status before writing an offer, because condo project approvals can shift as owner-occupancy ratios and sponsor unit counts change.
Do common charges typically include taxes at The Beacon? No. Common charges cover building operations and amenities. Glen Cove real estate taxes are billed separately and are what push the true monthly carry meaningfully above the mortgage payment.
Is it easier to negotiate on a resale unit than on sponsor inventory? Often, yes. Individual resale sellers are more responsive to days-on-market pressure than a developer working a longer absorption schedule, and resale comps inside the same building give both sides a defensible number to work from.
Let's Connect
If you are weighing a Beacon unit against a resale down the hall, comparing Garvies Point to a village home elsewhere on the North Shore, or trying to sell into a building where the developer is still your loudest competitor, that is a conversation worth having in detail. Myla Borucke works this market unit by unit, and the numbers behind a Glen Cove waterfront purchase reward that kind of attention.
