The lower tip of the peninsula is known as Blues Point, which offers expansive views of Port Jackson (Sydney Harbour).

McMahons Point is primarily a medium-to-high-density residential area and is bordered by the surrounding suburbs of Waverton, North Sydney and Lavender Bay.

Real estate north of Sydney Harbour in this collection of villages is set at a premium due to the area's low crime rate, cafes, restaurants, pubs, parks, accessibility to bus, train and ferry networks plus expansive views of the Sydney City CBD.

However their many descendants are established in Australia, New Zealand, Canada and the US and the McMahon family name has become part of the famous harbour where he built his home.

Further grants were subsequently made in 1817 to Billy Blue, a Jamaican convict turned Sydney Harbour waterman, which remained within his family until the 1850s.

When the Sydney Harbour Bridge opened in 1932, the wharves of McMahons and Blues Point provided services every 10–15 minutes and served six million passengers per year.

In 1957, much of McMahons Point was to be rezoned as 'waterfront industrial' by North Sydney Council, but a group formed by residents and architects, led by Harry Seidler, argued for a residential vision.

A stretch of railway line dating from 1893 runs through the suburb's north-west and emerges from a tunnel at an off-peak storage depot in Lavender Bay.