The accident happened at 10:40 p.m. Sunday. Video shows rescue crews in the water later that night.
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Authorities say the 1989 OC/MA boat, operated by Louis Deritis, collided with a 44-foot 1989 Henriques Sport Fisherman.
"It appears the smaller boat abruptly changed course and turned in front of the larger boat and then was struck by the larger boat," Suffolk County Police Deputy Chief William Scrima said.
The collision happened north of Ocean Bay Park between North Channel and Range Channel.
Police say the OC/MA boat capsized and Deritis, 57, was ejected from into the water. He was initially reported missing, but Deritis' body was found Monday morning.
"The second was discovered at the body of the bay right around where the incident happened," said Chief Roy Eklund Jr. of the Bayshore Fire Department.
His 50-year-old wife, Renee, was found by rescue divers in the cabin of the boat. She was pronounced dead, authorities said.
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Neighbors from Oakdale, Long Island, who knew the couple learned of the devastating news on Labor Day.
"Shocked. Absolutely shocked. I'm still in shock," neighbor Warren Amato said.
The couple leaves behind two children: a son and daughter.
The operator of the other boat, 61-year-old Ferdinand Caravousanos, was not injured. The other three passengers on that boat were also not injured.
Suffolk County Police say there were several deadly boating accidents this summer.
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Detectives are asking anyone with information on this crash to call the Third Squad at 631-854-8352.
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The crash is under investigation.
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