SecProbe.io

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<TYPE>LETTER
<SEQUENCE>1
<FILENAME>filename1.txt
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Mail Stop 4561
      June 21, 2005

Mr. Mark E. Chertok
Chief Financial Officer
NorthStar Realty Finance Corp.
527 Madison Avenue, 16th Floor
New York, NY 10022

	RE:	NorthStar Realty Finance Corp.
		Form 8-K
		Filed May 24, 2005
            	File No. 1-32330

Dear Mr. Chertok:

      We have reviewed your response letter dated June 13, 2005
and
have the following additional comments.  We ask you to provide us
with supplemental information so we may better understand your
disclosure.  Please be as detailed as necessary in your
explanation.
After reviewing this information, we may or may not raise
additional
comments.

      	Please understand that the purpose of our review process
is
to assist you in your compliance with the applicable disclosure
requirements and to enhance the overall disclosure in your filing.
We look forward to working with you in these respects.  We welcome
any questions you may have about our comments or on any other
aspect
of our review.  Feel free to call me at the telephone number
listed
at the end of this letter.

1. For adjustment nine and eleven on the schedule of adjustments
relating to the period October 29, 2004 through December 31, 2004
as
provided in exhibit A in response to our previous comment letter,
please describe the specific months that the adjustments relate to
and the dollar amounts per month.  In addition, please describe
the
effects of these adjustments on the amounts previously filed in
your
quarterly report for September 30, 2004 filed on December 30, 2004
and your S-11 filed on October 25, 2004, if any.

	Please provide the supplemental information requested above
within five business days from the date of this letter.  The
supplemental information should be filed as correspondence on
EDGAR.

Any questions regarding the above should be directed to me at
(202)
551-3469.

								Sincerely,

								Thomas Flinn
								Staff Accountant
Mr. Mark E. Chertock
NorthStar Realty Finance Corp.
June 21, 2005
Page 1

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