I think of it the other way around. Nothing there in Cold Spring except ice cream at the marina. Quite a bit in Oyster Bay.

Cold Spring:(nl)Very limited room to anchor, no restaurants or store ashore. (Am I missing something?)

Oyster Bay:(nl)Anchor to the SE shore, the SW shore, or east or west in the huge expanse of West Harbor. At least half a dozen good restaurants, a 2 bakery/coffee/breakfast shops, a good hardware store, marine stores all within 10 minute walking distance from Sagamore YC or Oyster Bay Marine docks.