Officers responding to a 911 call recused the victims at about 1 a.m. in Fire Island Harbor.
According to the Suffolk County Police Marine Bureau, the lines on the sailboat broke and it was smashing against the dock and other boats.
Chris Sinforter, 32, of Brooklyn, and Christian Teneyck, 37, of Jersey City, "were onboard the sinking sailboat and unable to get off safely due to high seas," police said.
Officers maneuvered a rescue boat next to the sailboat and helped the two men to jump safely to their vessel at about 2:30 a.m.
MORE NEWS | New York City beaches reopen despite wet start to holiday weekend
NYC beaches reopen despite wet start to holiday weekend
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