RXR Realty Breaks Ground on $1 Billion Waterfront Redevelopment on Long Island

by Katie Sloan

Glen Cove, N.Y. — RXR Realty has broken ground on Garvies Point, a $1 billion waterfront redevelopment in the Long Island city of Glen Cove.

The project will restore 56 acres of Glen Cove’s waterfront, creating more than 1,100 LEED-certified residences and 75,000 square feet of shops and restaurants. The project will also feature approximately 28 acres of public open spaces with parks, playgrounds, esplanades, marinas, an amphitheater and dog park.

The residential units will include 569 condominiums and 541 apartments for lease. Garvies Point will also feature thee separate marinas with a total of 120 boat slips.

Garvies Point is a partnership between RXR Realty and the City of Glen Cove. The project represents the culmination of a 20-year, $120 million effort to transform Glen Cove into a sustainable community. The first phase of Garvies Point, which includes 28 acres of public open space and amenities, is scheduled for completion in 2018.

The entire project will take between five and seven years to build, according to RXR. RXR Realty is a private real estate company that specializes in investment management, property management, development, design, construction, leasing and financing. RXR’s growth strategy is focused on New York City and the surrounding markets.

— Nellie Day

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