Mine are in filtered shade all day long, and only the new growth is yellow. By summer most of that growth has faded to green, although some is still a lighter green. It's best grown in the shade in the South, and I don't know how it would do with more sun up North. It is cold hardy to zone 5, so you're just fine on Long Island in that respect.

Stuart/LI, I am in NJ/NYC Metro Area (Zone 7), not far from LI, I have a few varieties of Cephalotaxus, but not the yellow one. I have both the more vertical growing one and the variety that is more horizontal/spreading. One is in deep shade, one gets dappled sun, and another one gets more or less full sun. Guess which one seems most robust..., the one in deep shade (one that is more horizontal growing). I checked there hardiness, a lot of sources say good down to 6 (not 5), but LI in 7a-7b is fine. I get 0% die back and they are mine with snow loads. I have seen fine, large specimens up in the NJ Botanical Garden up in Ringwood (which is probably zone 6a/b as there is some altitude and it is more inland). They are also quite deer resistant (compared to Yews for example). Basically, very low maintenance and they should be more available locally than they are.

Gorgeous!

Beautiful tree! Thanks for the info.