Exhibit 23.2
 
                        CONSENT OF INDEPENDENT AUDITORS
   
  We hereby consent to the reference to our firm under the caption "EXPERTS"
in the Prospectus forming part of Amendment No. 2 to Form S-1 Registration
Statement of Capital Trust and to the incorporation of our reports, dated
March 10, 1997 and July 16, 1997 on the financial statements of Victor Capital
Group, L.P. (a Delaware Limited Partnership) and Affiliates, as of June 30,
1997, December 31, 1996 and 1995 and for the six months ended June 30, 1997
and 1996, and for each of the three years in the period ended December 31,
1996.     
 
                                          DAVID BERDON & CO. LLP
                                          CERTIFIED PUBLIC ACCOUNTANTS
 
New York, New York
   
December 8, 1997