SHELBOURNE PROPERTIES III INC
S-4/A, EX-23.3, 2000-09-19
REAL ESTATE INVESTMENT TRUSTS
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                                                                    EXHIBIT 23.3

                      CONSENT OF CUSHMAN & WAKEFIELD, INC.

         We consent to (i) all references to us in the Registration Statement on
Form S-4 of Shelbourne Properties III, Inc. under the captions "SUMMARY,"
"ALTERNATIVES TO THE CONVERSION," and "EXPERTS" and (ii) the filing as an
exhibit to the Registration Statement of Limited Appraisals of Real Property
prepared by us.

                                                     CUSHMAN & WAKEFIELD, INC.


New York, New York
September 15, 2000



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