Exhibit 23.2
 
                        CONSENT OF INDEPENDENT AUDITORS
 
  We hereby consent to the incorporation by reference in this Registration
Statement on Form S-1 of Capital Trust of the reference to our firm under the
caption "EXPERTS" appearing in the Prospectus forming part of the Form S-1
Registration Statement (File No. 333-37271) of Capital Trust and 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 10, 1997