Rechler of RXR Realty addresses YM/WREA

Chairman and CEO of RXR Realty LLC Scott Rechler addressed an audience of more than 150 members and guests at the May 10th monthly luncheon hosted by Young Men's/Women's Real Estate Association (YM/WREA). Bullish on the city's economic forecast, he discussed RXR's fully integrated, multi-disciplined real estate investment and operating approach, its business strategy of low leverage and long-term debt financing, and its practice of appropriately coupling capital raises with real estate investment sources. RXR's most recent acquisitions include 340 Madison Ave. and 1330 Avenue of the Americas, both "trophy buildings with broken capital structures." He also touched upon RXR's pending purchase of the Starrett Lehigh Building for $900 million characterizing it as an ideal property to serve the city's growing demand among technology companies and creative media content providers. Shown seated (from left) are: David Berke, vice chairman; Rechler; Brandl Frey, chairman; and Stephen Gordon, secretary. Shown standing (from left) are: Glenn Tolchin, governor; John Pavone, governor; Andrew Lazarus, treasurer; Lindsay Ornstein, membership; and Michael Rudder, governor. About YM/WREA Established in 1948, with a membership totaling approximately 394, Young Men's/Women's Real Estate Association promotes greater understanding and knowledge of the real estate industry among its constituents through its monthly luncheons and wide variety of philanthropic activities including New York Cares, Central Park Clean-Up Day, an Annual Blood Drive, among others, in addition to many social functions.