EXHIBIT 23.2

                          INDEPENDENT AUDITORS' CONSENT

         We consent  to the  incorporation  by  reference  in this  Registration
Statement  of GBI  Capital  Management  Corp.  on Form S-3 of our  report  dated
February 27, 1998,  with respect to the  financial  statements  incorporated  by
reference in the Annual Report on Form 10-K of GBI Capital  Management Corp. for
the fiscal  period ended August 24, 1999,  and to the  reference to us under the
heading  "Experts"  in the  Prospectus,  which  is  part  of  this  Registration
Statement.

                                                  /S/ LERNER & SIPKEN, CPAS, LLP
                                                  ------------------------------
                                                  Lerner & Sipkin, CPAs, LLP

New York, New York
May 23, 2000