1
















                                  EXHIBIT 5.0


 2



                   [LETTERHEAD OF MULDOON, MURPHY & FAUCETTE]









                                  May 31, 1996





Board of Directors
New York Bancorp Inc.
241-02 Northern Boulevard
Douglaston, New York  11362

     Re:   New York Bancorp Inc. 1993 Long-Term Incentive Plan -
           Registration Statement on Form S-8 for 514,361 Additional Shares of
           Common Stock

Lady and Gentlemen:

     We have acted as counsel  for New York  Bancorp  Inc.  (the  "Company")  in
connection with the  registration  under the Securities Act of 1933, as amended,
on Form S-8 of 514,361 additional shares of the Company's Common Stock, $.01 par
value  (the  "Shares"),  to be  issued  under  the New York  Bancorp  Inc.  1993
Long-Term  Incentive Plan, as amended (the "Plan"). A Registration  Statement on
Form S-8  registering  550,000  shares of the Company's  Common Stock,  $.01 par
value,  reserved for issuance  under the Plan was filed with the  Securities and
Exchange Commission (the "SEC") on February 25, 1994 (SEC File No. 33-75756) and
a Registration Statement on Form S-8 registering an additional 182,824 shares of
the Company's  Common  Stock,  $.01 par value,  reserved for issuance  under the
Plan,  was filed with the SEC on March 17, 1995 (SEC File No.  33-90440) both of
which are incorporated by reference into this Form S-8 being filed today.

     As such  counsel,  we have made such  legal and  factual  examinations  and
inquiries as we deemed  advisable for the purpose of rendering this opinion.  In
our  examination,  we have assumed and have not verified (i) the  genuineness of
all  signatures,  (ii) the  authenticity  of all  documents  submitted  to us as
originals,  (iii) the conformity with the originals of all documents supplied to
us as copies,  and (iv) the accuracy and  completeness of all corporate  records
and documents and of all certificates and statements of fact, in each case given
or made available to us by the Company or its subsidiary.




 3


Board of Directors
New York Bancorp Inc.
May 30, 1996
Page 2




     Based on the  foregoing and limited in all respects to Delaware law and the
facts as they  exist on the  date  hereof,  it is our  opinion  that the  Shares
reserved  under the Plan have been duly  authorized and upon the issuance of the
Shares in the manner  described in the Plan, will be validly issued,  fully paid
and  nonassessable.  The following  provisions of the Company's  Certificate  of
Incorporation  may not be given effect by a court applying  Delaware law, but in
our opinion the  failure to give effect to such  provisions  will not affect the
duly  authorized,  validly issued,  fully paid and  nonassessable  status of the
Common Stock:

     (1)   (a)  Section  D  of Article EIGHTH which grants the Board of
           Directors of the Company ("Board") the authority to construe
           and apply the provisions of Subsection C.8 of Article EIGHTH
           empowering the Board to determine the  Fair  Market Value of
           property  offered  or  paid  for  the  Company's stock by an
           Interested Stockholder,  to the extent, if any, that a court
           applying Delaware law  were to impose  equitable limitations
           upon  the  authority  of  the directors of the Company under 
           such provisions; and

           (b)  Article  NINTH  of  the  Certificate  of Incorporation,
           which  authorizes  the Board to consider  the  effect of any 
           offer  to acquire the Company on  constituencies  other than
           stockholders in evaluating any such offer.

     We hereby  consent  to the  filing of this  opinion  as an  exhibit  to the
Company's Registration Statement on Form S-8.

                                      Very truly yours,



                                      /S/ MULDOON, MURPHY & FAUCETTE