Exhibit 24.1
                          ============



The Board of Directors
Realty Income Corporation:

We consent to incorporation by reference in Amendment No. 1 to
the Registration Statement No. 33-95374 on Form S-3 of Realty
Income Corporation and to incorporation by reference in
Registration Statement No. 33-95708 on Form S-8 of Realty Income
Corporation, of our report relating to the consolidated balance
sheets of Realty Income Corporation as of December 31, 1996 and
1995, and the related consolidated statements of income,
stockholders' equity and cash flows for each of the years in the
three-year period ended December 31, 1996, and the related
Schedule III.  Such report is dated January 24, 1997, except as
to paragraph two of Note 11, which is as of February 24, 1997,
and appears in the December 31, 1996 annual report on Form 10-K
of Realty Income Corporation.


                                 /s/KPMG PEAT MARWICK LLP


San Diego, California
March 25, 1997



















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