(516) 449-2222  Email Me

Larry Barasch, ABR, CRS, GRI

Coldwell Banker
Residential Brokerage
Babylon, New York
Licensed Real Estate Broker Associate
(Cell) 516-449-2222

(Office-Direct) 631-274-1955

Contact Me

Fisherman's Wharf

Fisherman's Wharf Particulars

Information About The Fisherman's Wharf, West Babylon, NY, a Gated Community: 

· West Babylon mailing address, with Babylon Village School District #1. Co-Op Development (Not Condo, Townhouse, or anything else!). 

    
·143 units in development. Either 1st floor OR 2nd floor units; NO 2-story duplex units. NO 2 bedroom units on the lake. 
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·    Pets ARE allowed. (no wild animals, like lions, tigers or bears, oh-my!) Electric BBQ's only! 
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·    Managed by Barrier Beach Management in Long Beach, New York. Owned by The Fisherman's Wharf at Babylon Owner's Corp, which is owned by all the people who live here, by virtue of shares of stock you get when you buy a unit. You also get a proprietary lease, which lets you live here as long as you pay your monthly maintenance. 
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·    Amenities include: Community Swimming Pool, Tennis & Bocci Court, basketball & shuffleboard courts, Clubhouse with pool and ping pong tables, meeting/party room and exercise room, accessible with electronic pass card. Three (3) laundry facilities with 18 washers and dryers; generally locked and accessible with your own key. 2 unassigned parking spaces per unit. 
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·    Maintenance includes: your proportionate share of property taxes, part of the development's underlying mortgage interest, heating bill, water, garbage removal, parking, laundry facilities, landscaping, pool, tennis & clubhouse, exterior repairs and some interior repairs (such as plumbing inside the walls, etc.). Maintenance charges vary based upon size and number of shares assigned to each individual unit; maximum 67% deductibility of maintenance charges based upon your own specific tax bracket, income, etc.You pay your own electric bill (varies by owner), own cable and phone. Satellite dishes are not allowed. 
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·    You CAN sub-let your unit to a board-approved tenant with a $ 1.50 per share sublet fee per year. 
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·    Minimum requirements for Board Approval for a Purchaser: If taking out a mortgage, your Gross Annual Income must be AT LEAST 5-1/2 times the annual maintenance; if buying ALL CASH, must have Gross Annual Income of at least 4-1/2 times the annual maintenance. Must have good credit, and not owe out too much in relation to your income. Usually a 3-to-1 debt-to-income ratio is what the Board looks for. Credit report, pre-approval letter, tax return, pay stub, etc must be provided to the Realtor in order for an offer to be presented to the owner. 15% down payment in total, is the MINIMUM this development will accept. Depending upon the type of mortgage you are going for, part of your down payment may be a gift from a friend, relative, etc. 
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·    Board Approval is the LAST stage of buying a co-op. First, you make an offer in writing to the owner, through the Broker. Then give about 2 weeks to go to contract. Then give between 3 to 5 weeks to get a mortgage commitment. Then (and only then), can you send in an application to Barrier Beach Management with a non-refundable application fee check for $ 300.00; plus $ 150.00 per applicant credit and background check fee to Barrier Beach Mgmt, plus a non-refundable $ 600.00 application processing fee to Fisherman's Wharf. If you meet the minimum requirements, your application will be sent to the Co-Op Board for review and a personal interview. The Board consists of 5 residents of the development. If you get approved.....GREAT! We close in about 2 to 3 weeks. If you get rejected, that's the end! Remember, a co-op board can reject you for any reason, or no reason at all. That's why we have to make sure UP FRONT, that you are a viable purchaser...not to be nosey, but we don't want to waste everyone's time! Please allow from 2-1/2 to 3-1/2 months from start-to-finish. 
Good Luck! 
Larry Barasch, ABR, CRS, GRI 
Licensed Broker Associate 
Coldwell Banker Residential Brokerage, Babylon, NY 
Office : (631) 274-1955 
Cell: (516) 449-2222 

The Lake

Directions to The Fisherman's Wharf Development 

Sunrise Highway or Southern State Parkway to Route 109 East. 
Take Route 109 (South of Sunrise Highway) to 5th traffic light. 
At that light you'll see West Babylon High School on your right, a Hess Gasoline Station in front of you, a miniature Windmill on your left, and a Dunkin' Donuts on your left. 
Turn left at that light onto Millard Avenue, which will bring you into The Fisherman's Wharf Development.

 

Different Co-Op Models

“A” Upper- 649 shares- Smallest 1 Bedroom Lakefront; 15’4” x 11’ Bedroom with sliders to small balcony; 18’4” x 11’8” Living/Dining Room; Galley Kitchen; Full Bath. 

“A” Lower- 599 shares- Smallest 1 Bedroom Lakefront; 15’4” x 11’ Bedroom with sliders to larger balcony; 18’4” x 11’8” Living/Dining Room; Galley Kitchen; Full Bath. 

 

“B” Upper- 789 shares- Largest 1 Bedroom Lakefront; 15’ x 11’ Bedroom with walk-in closet; 18’ x 12’ Living Room with sliders to small balcony; 16’ x 10’ Dining Room; 9’4” x 9’ Eat-in Kitchen; Full Bath. 

“B” Lower- 739 shares- Largest 1 Bedroom Lakefront; 15’ x 11’ Bedroom with walk-in closet; 18’ x 12’ Living Room with sliders to larger balcony; 16’ x 10’ Dining Room; 9’4” x 9’ Eat-in Kitchen; Full Bath. 

“C” Upper- 819 shares- 2 Bedroom Non-Lakefront; 13’4” x 11’ Bedroom and 11’ x 10’ Bedroom; 21’6” x 15’ Living/Dining Room with sliders to covered balcony; 8’ x 7’2” Galley Kitchen; Full Bath. 

“C” Lower- 769 shares- 2 Bedroom Non-Lakefront; 13’4” x 11’ Bedroom and 11’ x 10’ Bedroom; 21’6” x 15’ Living/Dining Room with entrance to cement patio; 8’ x 7’2” Galley Kitchen; Full Bath. 

“D” Upper- 729 shares- 1 Bedroom Non-Lakefront; 15’ x 11’ Bedroom; 18’2” x 13’4” Living Room; 15’ x 7’8” Dining Room with sliders to covered balcony; 8’ x 7’8” Galley Kitchen; Full Bath. 

“D” Lower- 679 shares- 1 Bedroom Non-Lakefront; 15’ x 11’ Bedroom; 18’2” x 13’4” Living Room with entrance to cement patio; 10’ x 7’8” Dining Room; 8’ x 7’8” Galley Kitchen; Full Bath. 

“E” Upper- 879 shares- Largest 2 Bedroom Non-Lakefront; 15’ x 12’ Bedroom and 12’ x 11’ Bedroom; 18’ x 12’ Living Room with sliders to covered balcony; 8’4” x 7’2” Dining Room; 8’ x 7’ Galley Kitchen; Full Bath. 

“E” Lower- 829 shares- Largest 2 Bedroom Non-Lakefront; 15’ x 12’ Bedroom and 12’ x 11’ Bedroom; 18’ x 12’ Living Room with entrance to cement patio; 8’4” x 7’2” Dining Room; 8’ x 7’ Galley Kitchen; Full Bath. 

* Dimensions are Approximate 

 


Larry Barasch, ABR, CRS, GRI
Licensed Associate Broker
Coldwell Banker Residential Brokerage

136 West Main Street
Babylon, NY 11702
Cell: 516-449-2222 
Office/Direct: 631-274-1955
Email: Larry.Barasch@cbmoves.com

Your Professional Long Island Realtor
Providing a superior level of informed, professional real estate services to buyers and sellers. I take pride in my hard work and dedication to my clients and customers, and it will be MY pleasure to make all of YOUR dreams come true! Selling Long Island co-ops, Long Island condos and Long Island homes every day.

Testimonials

Larry sold my place in one day! That was after he advised me to do a few things and after doing them I got a full price offer on the listing. Larry's knowledge and experience was priceless. Nancy Geiselman, Co-Op Seller 236 Farber Drive, West Babylon

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