Affordable waterfront property

BY LAURA KOSS-FEDER | Special to Newsday

March 28, 2008

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While waterfront living on Long Island can easily set you back several million dollars, there are some select communities that offer less pricey options. Usually, these are in recently revitalized areas that have undergone a transformation.

Here are four communities where you can find waterfront homes for less than $510,000, according to data from the Multiple Listing Service of Long Island Inc.

With its Nautical Mile that offers a plethora of seafood restaurants, specialty shops, charter fishing and serene views - all in walking distance of one another - Freeport on the South Shore sits on several canals and inlets with waterfront homes at a median price of $535,000, according to Multiple Listing. The area is also ethnically diverse, has a variety of charter boat options and is a 44-minute commute to Manhattan.

The Village of East Rockaway on Hewlett Bay provides quiet, tree-lined streets with older homes of charm and character. Waterfront houses have a median sales price of $449,000. East Rockaway offers a commute to Manhattan as short as 38 minutes (depending upon the train) and is located near the Five Towns (Inwood, Cedarhurst, Hewlett, Woodmere and Lawrence).

Largely due to the work of Mayor Paul Pontieri Jr., the Village of Patchogue has seen a revitalization during the past few years. The downtown shopping district has a mix of stores and restaurants. Sitting by the Great South Bay, many waterfront homes are selling for about $499,000. The Patchogue River accommodates numerous yachts and small vessels, and ferry service is provided to Watch Hill and Davis Park on Fire Island.

Another progressive mayor, Peter Imbert of Amityville, has helped turn his village into a vibrant community with new parks, shops and renovated Victorians. The area now offers a small-town feel, and home prices have gone up. But you can still find waterfront homes on the Great South Bay for a median price tag of $499,495.

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