EXHIBIT 23.1



                       CONSENT OF INDEPENDENT ACCOUNTANTS 



          We  hereby  consent  to  the   incorporation   by  reference  in  this
Registration Statement on Form S-8 of our report dated February 15, 1996, except
for Note 1, as to which the date is March 12, 1996, appearing on page 38 of Cali
Realty  Corporation's Annual Report on Form 10-K for the year ended December 31,
1995. We also consent to the reference to us under the heading "Experts" in such
Registration Statement.


/s/Price Waterhouse LLP
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  PRICE WATERHOUSE LLP

New York, New York
December 19, 1996