1
                                                                    Exhibit 23.1


                        CONSENT OF INDEPENDENT AUDITORS


We consent to the incorporation by reference in the registration statements of
New Plan Realty Trust on Forms S-3 (File Nos. 333-15635, 033-61383, and
033-53311) of our report dated September 9, 1998, except for Note Q for which
date is September 28, 1998, on our audits of the consolidated financial
statements of New Plan Realty Trust, as of July 31, 1998 and 1997 and for the
years ended July 31, 1998, 1997 and 1996, which report is included in this
Current Report on Form 8-K.




                                             PricewaterhouseCoopers LLP

New York, New York
October 13, 1998