EXHIBIT 99.4


                             ASTORIA CAPITAL TRUST I

                            Offer for all Outstanding
                       9.75% Capital Securities, Series A
                                 in Exchange for
                       9.75% Capital Securities, Series B


To:     Brokers, Dealers, Commercial Banks,
        Trust Companies and Other Nominees:

      Astoria Capital Trust I (the "Trust") is offering, upon and subject to the
terms and conditions set forth in a prospectus dated __________, 2000 (as the
same maybe amended or supplemented from time to time, the "Prospectus"), and the
enclosed letter of transmittal (the "Letter of Transmittal"), to exchange (the
"Exchange Offer") its 9.75% Capital Securities, Series B (the "Exchange Capital
Securities") for any and all of its outstanding 9.75% Capital Securities, Series
A (the "Original Capital Securities). The Exchange Offer is being made in order
to satisfy certain obligations of the Trust and Astoria Financial Corporation
(the "Corporation") contained in the registration rights agreement dated October
25, 1999, among the Trust, the Corporation and the initial purchaser referred to
therein.

      We are requesting that you contact your clients for whom you hold Original
Capital Securities regarding the Exchange Offer. For your information and for
forwarding to your clients for whom you hold Original Capital Securities
registered in your name or in the name of your nominee, or who hold Original
Capital Securities registered in their own names, we are enclosing the following
documents:

           1.   The Prospectus dated __________, 2000;

           2.   The Letter of Transmittal for your use and for the information
                (or the use, where relevant) of your clients;

           3.   A Notice of Guaranteed Delivery to be used to accept the
                Exchange Offer if certificates for Original Capital Securities
                are not immediately available or time will not permit all
                required documents to reach the Exchange Agent prior to the
                Expiration Date (as defined below) or if the procedure for
                book-entry transfer cannot be completed on a timely basis;

           4.   A form of letter which may be sent to your clients for whose
                account you hold Original Capital Securities registered in your
                name or the name of your nominee, with space provided for
                obtaining such clients' instructions with regard to the Exchange
                Offer; and

           5.   Guidelines for Certification of Taxpayer Identification Number
                on Substitute Form W-9.

      Your prompt action is requested. The Exchange Offer will expire at 5:00
p.m., New York City time, on __________, 2000, or on such later date or time to
which the Corporation or the Trust may extend the Exchange Offer (the
"Expiration Date"). The Original Capital Securities tendered pursuant to the
Exchange Offer may be withdrawn at any time before the Expiration Date.


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      To participate in the Exchange Offer, your clients must tender by having
you execute for them a book- entry transfer of tendered Original Capital
Securities into the account of Wilmington Trust Company, as Exchange Agent, at
The Depository Trust Company ("DTC") using DTC's Automated Tender Offer Program.
Your clients may also tender by having certificates representing the Original
Capital Securities, a duly executed and properly completed Letter of Transmittal
(or facsimile thereof), with any required signature guarantees, and any other
required documents delivered to such Exchange Agent. The Letter of Transmittal
and the Prospectus should be consulted for complete instructions and information
about participation in the Exchange Offer.

      If holders of Original Capital Securities wish to tender, but it is
impracticable for them to forward their certificates for Original Capital
Securities prior to the expiration of the Exchange Offer or to comply with the
book-entry transfer procedures on a timely basis, a tender may be effected by
following the guaranteed delivery procedures described in the Prospectus under
"The Exchange Offer -- Procedures for Tendering Original Capital Securities --
Guaranteed Delivery."

      The Trust will, upon request, reimburse brokers, dealers, commercial banks
and trust companies for reasonable and necessary costs and expenses incurred by
them in forwarding the Prospectus and the related documents to the beneficial
owners of Original Capital Securities held by them as nominee or in a fiduciary
capacity. The Trust will pay or cause to be paid all stock transfer taxes
applicable to the exchange of Original Capital Securities pursuant to the
Exchange Offer, except as set forth in Instruction 13 of the Letter of
Transmittal.

      Any inquiries you may have with respect to the Exchange Offer, or requests
for additional copies of the enclosed materials, should be directed to
Wilmington Trust Company, the Exchange Agent for the Original Capital
Securities, at its address and telephone number set forth on the front of the
Letter of Transmittal.

Very truly yours,



ASTORIA CAPITAL TRUST I


      NOTHING HEREIN OR IN THE ENCLOSED DOCUMENTS SHALL CONSTITUTE YOU OR ANY
PERSON AS AN AGENT OF THE TRUST OR THE EXCHANGE AGENT, OR AUTHORIZE YOU OR ANY
OTHER PERSON TO USE ANY DOCUMENT OR MAKE ANY STATEMENTS ON BEHALF OF EITHER OF
THEM WITH RESPECT TO THE EXCHANGE OFFER, EXCEPT FOR STATEMENTS EXPRESSLY MADE IN
THE PROSPECTUS OR THE LETTER OF TRANSMITTAL.


Enclosures


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