EXHIBIT 99.3


                          ASTORIA FINANCIAL CORPORATION

                OFFER TO EXCHANGE ANY AND ALL OF ITS OUTSTANDING
                           5.75% SENIOR NOTES DUE 2012
                 FOR ITS 5.75% SENIOR NOTES DUE 2012, SERIES B,
     WHICH HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED


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

         Astoria Financial Corporation (the "Company") is offering, upon the
terms and subject to the conditions set forth in the prospectus, dated
_______________, 2002 (as the same may be amended or supplemented from time to
time, the "Prospectus"), and the related Letter of Transmittal (which together
constitute the "Exchange Offer"), to exchange its 5.75% Senior Notes due 2012,
Series B for any and all of its outstanding 5.75% Senior Notes due 2012 (the
"Old Notes"). The Exchange Offer is being made in order to satisfy certain
obligations of the Company contained in the registration rights agreements,
dated as of October 16, 2002 and November 25, 2002, among the Company and the
initial purchasers of the Old Notes.

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

         1.       The Prospectus;

         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 the procedure for book-entry transfer cannot
                  be completed on a timely basis or if certificates for Old
                  Notes 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);

         4.       A form of letter which may be sent to your clients for whom
                  you hold Old Notes registered in your name or in 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 _______________, 2003, OR ON SUCH LATER DATE OR
TIME TO WHICH THE COMPANY MAY EXTEND THE EXCHANGE OFFER (THE "EXPIRATION DATE").
THE OLD NOTES TENDERED PURSUANT TO THE EXCHANGE OFFER MAY BE WITHDRAWN AT ANY
TIME BEFORE THE EXPIRATION DATE.

         To participate in the Exchange Offer, your clients must tender by
having you execute for them a book-entry transfer of tendered Old Notes 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 Old Notes, a duly executed
and properly completed Letter of Transmittal (or facsimile thereof), with any
required signature guarantees, and any other required documents delivered to the
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 Old Notes wish to tender, but it is impracticable for
them to comply with the book-entry transfer procedures on a timely basis or to
forward their certificates for Old Notes prior to the expiration of the Exchange
Offer, a tender may be effected by following the guaranteed delivery procedures
described in the Prospectus under "The Exchange Offer -- Procedures for
Tendering Old Notes."

         The Company 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 Old Notes held by them as nominee or in a fiduciary
capacity. The Company will pay or cause to be paid all transfer taxes applicable
to the exchange of Old Notes pursuant to the Exchange Offer, except as set forth
in Instruction 14 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
the Exchange Agent for the Old Notes at its address and telephone number set
forth on the front of the Letter of Transmittal.

                                               Very truly yours,

                                               ASTORIA FINANCIAL CORPORATION

         NOTHING HEREIN OR IN THE ENCLOSED DOCUMENTS SHALL CONSTITUTE YOU OR ANY
PERSON AS AN AGENT OF THE COMPANY 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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