
EX-5
<FILENAME>
OPINION AND CONSENT OF LEGAL COUNSEL

				Exhibit 5
		 [Opinion and Consent of Legal Counsel]

August 11, 2003

Cape Coastal Trading Corporation
301 West 53, 6C
New York, NY 10019

Re:  Cape Coastal Trading Corporation (the "Company")
     Registration Statement on Form SB-2 (the "Registration Statement")

Ladies and Gentlemen:

	I have acted as counsel to the Company in connection with the preparation
of the Registration Statement filed with the Securities and Exchange Commission
pursuant to the Securities Act of 1933, as amended (the "1933 Act"), relating
to the proposed offering of up to 2,516,500 shares of the Company's common
stock, par value $.001 per share (the "Stock").

	I am furnishing this opinion to you in accordance with Item 601(b)(5) of
Regulation S-B promulgated under the 1933 Act for filing as Exhibit 5 to the
Registration Statement.

        I am familiar with the Registration Statement, and I have examined the
Corporation's Certificate of Incorporation, as amended to date, the
Corporation's Bylaws, as amended to date, and minutes and resolutions of the
Corporation's Board of Directors and shareholders. I have also examined such
other documents, certificates, instruments and corporate records, and such
statutes, decisions and questions of law as I have deemed necessary or
appropriate for the purpose of this opinion. In such examinations, I have
assumed the genuineness of signatures and the conformity to the originals of
the documents supplied to me as copies. As to various questions of fact
material to this opinion, I have relied upon statements and certificates of
officers and representatives of the Company.


	Upon the basis of this examination, I am of the opinion that the shares
of stock offered by the selling shareholders have been authorized, are validly
issued, fully paid, and are non-assessable under the corporate laws of the
State of New York. If transferred or sold in accordance to the terms of the
prospectus, they would continue to be legally issued, fully paid,
non-assessable shares of the Company.


	I hereby consent to the filing of this opinion as Exhibit 5 to the
Registration Statement and with such state regulatory agencies in such states
as may require such filing in connection with the registration of the stock for
offer and sale in those states and to the reference under the caption "Legal
Matters" in the prospectus included in the Company's registration statement.

Sincerely,

/s/ Jason L. Karavias, Esq.






