EXHIBIT 31.2

CERTIFICATION

I, Thomas
Staples, certify that:

|1. |  | I
have reviewed this Quarterly Report on Form 10-Q of Newkirk Realty Trust, Inc.;
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|2. |  | Based
on my knowledge,  this report does not contain any untrue statement of a material fact or
omit to  state a material fact necessary to make the statements made, in light of the
circumstances  under which  such statements were made, not misleading with respect to the
period covered by this report;
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|3. |  | Based
on my knowledge,  the financial  statements,  and other  financial  information  included
in this  report,  fairly  present in all material  respects the financial  condition,
results of operations and  cash flows of the Registrant as of, and for, the periods
presented in this report;
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|4. |  | The
Registrants other certifying officer and I are responsible for establishing and
maintaining disclosure  controls and procedures (as defined in Exchange Act Rules
13a-15(e) and 15d-15(e)) for the Registrant and  have:
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| | (a) |  | Designed
such  disclosure  controls  and  procedures,  or  caused  such  disclosure  controls  and
procedures to be designed under our supervision,  to ensure that material  information
relating to  the  Registrant,  including  its  consolidated  subsidiaries,  is made known
to us by others within  those entities, particularly during the period in which this
report is being prepared;
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| | (b) |  | Evaluated
the  effectiveness of the Registrants  disclosure  controls and procedures and
presented  in this report our conclusions about the  effectiveness of the disclosure
controls and procedures,  as of the end of the period covered by this report based on
such evaluation; and
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| | (c) |  | Disclosed
in this report any changes in the Registrants  internal control over financial
reporting  that occurred during the Registrants most recent fiscal quarter,  that has
materially  affected,  or is  reasonably  likely  to  materially  affect,  the  Registrants
internal  control  over  financial  reporting; and
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|5 |  | The
Registrants other certifying officer and I have disclosed,  based on our most
recent evaluation of  internal control over financial reporting,  to the Registrants
auditors and the audit committee of the  Registrants board of directors (or persons
performing the equivalent functions):
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| | (a) |  | All
significant  deficiencies  and  material  weaknesses  in the design or  operation  of
internal  control over financial  reporting which are reasonably  likely to adversely
affect the Registrants  ability to record, process, summarize and report financial
information; and
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| | (b) |  | Any
fraud,  whether  or not  material,  that  involves  management  or other  employees  who
have a  significant role in the Registrants internal control over financial
reporting.
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Date: May 9,
2006

| | /s/ Thomas C. Staples  
| | -----------------------
| |                        
| | Thomas C. Staples      
| | Chief Financial Officer

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