1
                                                                   EXHIBIT 11




                                BROWN & WOOD LLP
                             One World Trade Center
                           New York, N.Y. 10048-0557
                            Telephone: 212-839-5300
                            Facsimile: 212-839-5599


                                               August 20, 1996


MuniYield New York Insured Fund II, Inc.
800 Scudders Mill Road
Plainsboro, New Jersey  08536


Ladies and Gentlemen:

         We have acted as counsel for MuniYield New York Insured Fund II, Inc.
("MuniYield New York Insured II") in connection with its proposed acquisition
of all of the assets and assumption of all of the liabilities of each of
MuniVest New York Insured Fund, Inc. ("MuniVest New York Insured") and
MuniYield New York Insured Fund III, Inc. ("MuniYield New York Insured III"),
in exchange for newly-issued shares of common stock and auction market
preferred stock of MuniYield New York Insured II (collectively, the
"Reorganization").  This opinion is furnished in connection with MuniYield New
York Insured II's Registration Statement on Form N-14 under the Securities Act
of 1933, as amended (File No. 333-7817; the "Registration Statement"),
relating to shares of common stock and auction market preferred stock of
MuniYield New York Insured II, each par value $0.10 per share (collectively,
the "Shares"), to be issued in the Reorganization.

         As counsel for MuniYield New York Insured II, we are familiar with the
proceedings taken by it and to be taken by it in connection with the
authorization, issuance and sale of the Shares.  In addition, we have examined
and are familiar with the Articles of Incorporation of MuniYield New York
Insured II, as amended and supplemented, the By-Laws of MuniYield New York
Insured II, as amended, and such other documents as we have deemed relevant to
the matters referred to in this opinion.

         Based upon the foregoing, we are of the opinion that subsequent to the
approval of the Agreement and Plan of Reorganization among MuniYield New York
Insured II, MuniVest New York Insured and MuniYield New York Insured III set
forth in the joint proxy statement and prospectus constituting a part of the
Registration Statement (the "Joint Proxy Statement and Prospectus"), the
Shares, upon issuance in the manner referred to in the Registration Statement,
for consideration not less than the par value thereof, will be legally issued,
fully paid and
   2
non-assessable shares of common stock or auction market preferred stock, as the
case may be, of MuniYield New York Insured II.

         We hereby consent to the filing of this opinion as an exhibit to the
Registration Statement and to the use of our name in the Joint Proxy Statement
and Prospectus constituting parts thereof.


                                                   Very truly yours,

                                                   /s/ BROWN & WOOD LLP





                                       2