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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0001209191-08-054786.txt : 20081002
<SEC-HEADER>0001209191-08-054786.hdr.sgml : 20081002
<ACCEPTANCE-DATETIME>20081002165820
ACCESSION NUMBER:		0001209191-08-054786
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20080930
FILED AS OF DATE:		20081002
DATE AS OF CHANGE:		20081002

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			SAGALYN LYNNE B
		CENTRAL INDEX KEY:			0001195695

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14788
		FILM NUMBER:		081104251

	BUSINESS ADDRESS:	
		STREET 1:		418 URIS HALL
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10027

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CAPITAL TRUST INC
		CENTRAL INDEX KEY:			0001061630
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				946181186
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		410 PARK AVENUE
		STREET 2:		14TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
		BUSINESS PHONE:		2126550220

	MAIL ADDRESS:	
		STREET 1:		PAUL, HASTINGS, JANOFSKY & WALKER LLP
		STREET 2:		75 E 55TH ST
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>c75717_4x0.xml
<DESCRIPTION>MAIN DOCUMENT DESCRIPTION
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0303</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2008-09-30</periodOfReport>

    <issuer>
        <issuerCik>0001061630</issuerCik>
        <issuerName>CAPITAL TRUST INC</issuerName>
        <issuerTradingSymbol>CT</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001195695</rptOwnerCik>
            <rptOwnerName>SAGALYN LYNNE B</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>URIS HALL</rptOwnerStreet1>
            <rptOwnerStreet2>3022 BROADWAY, ROOM 808</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10027-6902</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Class A Common Stock Units</value>
                <footnoteId id="F1"/>
            </securityTitle>
            <transactionDate>
                <value>2008-09-30</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>1263</value>
                </transactionShares>
                <transactionPricePerShare>
                    <footnoteId id="F2"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>29019</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes>
        <footnote id="F1">The reporting person beneficially owns 8,334 shares of Class A Common Stock.</footnote>
        <footnote id="F2">Represents an award of Class A Common Stock Units that convert to shares of Class A Common Stock on a one-for-one basis at the time determined at grant.  The number of shares of Class A Common Stock subject to the award was calculated by dividing $18,750 by the average trading price for the third quarter of 2008.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Geoffrey G. Jervis, on behalf of Lynne B. Sagalyn</signatureName>
        <signatureDate>2008-10-02</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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