Exhibit 23.8
 
                      CONSENT OF INDEPENDENT ACCOUNTANTS
 
  We consent to the incorporation by reference in this Registration Statement
on Form S-1 of Capital Trust of our report dated March 21, 1997, relating to
the Statement of Revenue and Certain Operating Expenses of 1325 Limited
Partnership (A Delaware Limited Partnership) for the year ended December 31,
1996. We also 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 a part of the
registration statement on Form S-1 (File No. 333-37271) of Capital Trust.
 
                                          Margolin, Winer & Evens LLP
 
Garden City, New York
December 10, 1997