Scott Rechler

Rechler was born to a Jewish family, the son of Lita (née Rudy){{cite news|url=https://www.newsday.com/business/technology/the-ticker-1.562099|title=The Ticker}} and Roger Rechler.{{cite web|url=https://query.nytimes.com/gst/fullpage.html?res=9A0DE4D8123AF935A25750C0A96E9C8B63|title=Paid Notice: Deaths — RECHLER, ROGER|date=Mar 2008|author=The New York Times|author-link=The New York Times|accessdate=2018-09-05}} He was raised in Port Washington, New York on Long Island.{{Cite web|last=Cunningham|first= Cathy |author-link= |title=Great Scott!: Rechler Talks Reckson, RXR and Redevelopment |publisher=Commercial Observer|date= October 11, 2017|url=https://commercialobserver.com/2017/10/great-scott-rechler-talks-reckson-rxr-and-redevelopment/ |accessdate=}} His grandfather, William Rechler, developed the design for the lightweight foldable aluminum chair after World War II. He later founded Reckson Associates in 1958. Scott Rechler joined the company in 1989{{cite web| url=http://libn.com/2008/09/12/long-islands-first-families/| title=Long Island| author=Bernadette Starzee| date=September 12, 2008| publisher=Long Island Business News}} and led its initial public offering in 1995 forming Reckson Associates Realty Corp. (NYSE:RA). Rechler became chief operating officer and later co-CEO of the company{{cite web| url=https://www.wsj.com/articles/rechlers-see-a-residential-demand-to-fill-1410143654| title=Rechlers See a New Residential Demand to Fill| author=Sarah Rose| date=September 7, 2014| publisher=The Wall Street Journal}} and he led Reckson's expansion beyond Long Island into the New York and tri-state region.{{cite web| url=https://therealdeal.com/issues_articles/rechlers-reckoning/| title=Scott Rechler's RXR Realty goes on buying binge, aided by luck and aggression| author=Adam Piore| date=May 1, 2013| publisher=The Real Deal}} In 2003, Rechler was named chief executive. The company was acquired in early 2007 by SL Green Realty Corp.{{cite web| url=https://www.wsj.com/articles/SB10001424052702304172404575168033159342058| title=A Real-Estate Player Looks Poised to Pounce| author=Dawn Wotapka| date=April 7, 2010| publisher=The Wall Street Journal}}{{cite web| url=https://www.nytimes.com/2012/05/23/realestate/commercial/rechler-equity-restores-headquarters-and-dominates-long-island-market.html| title=A Real Estate Firm's History Is Told in Its New Home| author=Peter Slatin| date=May 22, 2012| work=The New York Times}} for $6 billion,{{cite web| url=https://therealdeal.com/2007/01/26/sl-green-reckson-merger-complete/| title=SL Green, Reckson merger complete| date=January 26, 2007| publisher=The Real Deal}} which resulted in a 700 percent total return for Reckson shareholders. Afterwards, Rechler formed RXR Realty and became CEO and Chairman of the organization.{{cite web| url=https://commercialobserver.com/2017/05/why-major-landlords-still-believe-in-midtown/| title=Why Major Landlords Still Believe in Midtown| author=Liam La Guerre| date=May 12, 2017| publisher=Commercial Observer}}{{cite web| url=https://www.nytimes.com/2011/01/09/realestate/09SqFt.html| title=Scott Rechler| author=Vivian Marino| date=January 6, 2011| work=New York Times}}{{cite web| url=https://therealdeal.com/2016/04/29/rxrs-scott-rechler-making-plans-to-leave-port-authority/| title=RXR's Scott Rechler making plans to leave Port Authority| date=April 29, 2016| publisher=The Real Deal}} By 2017, RXR managed over 22 million square feet of commercial real estate and held more than $15.7 billion in assets under management.{{cite web| url=https://commercialobserver.com/2017/09/rxr-sl-green-to-buy-49-percent-stake-in-1-7b-worldwide-plaza/| title=RXR, SL Green to Buy 49 Percent Stake in $1.7B Worldwide Plaza, $1.2B Refi on the Way| author=Cathy Cunningham| date=September 14, 2017| publisher=Commercial Observer}} As of March 31, 2023, RXR has an estimated $20 billion in gross asset value.{{cite web|title=Scott Rechler, CEO of RXR Realty and Board Member of the Federal Reserve Bank of New York, discusses how 20% of extant office buildings may now be obsolete in the post-COVID era and how investors can transition to a new "regime" of real estate investing. |url=https://www.afire.org/podcast/202306cast/ |website=AFIRE}}

Rechler was appointed to the Port Authority of New York and New Jersey by Governor Andrew Cuomo in 2011, where he oversaw the redevelopment of LaGuardia Airport and the World Trade Center.{{cite web| url=http://www.crainsnewyork.com/article/20140204/REAL_ESTATE/140209958| title=$8B earmarked for big upgrade of NY airports| author=Daniel Geiger| date=February 4, 2014| publisher=Crain's New York}} He became vice-chairman of the organization in 2012.{{cite web| url=https://nypost.com/2016/05/01/port-authority-exit-is-the-latest-blow-for-cuomo/| title=Port Authority exit is the latest blow for Cumo| author=Steve Cuozzo| date=May 1, 2016| publisher=New York Post}}{{cite web| url=https://commercialobserver.com/2016/05/scott-rechler-hands-baton-to-steven-m-cohen-as-top-ny-appointee-to-port-authority/| title=Scott Rechler Passes Baton to Steven M. Cohen for Top NY Appointee Spot at Port Authority| author=Terence Cullen| date=May 26, 2016| publisher=Commercial Observer}}

In 2015, Rechler was recognized as one of the most powerful people in New York City real estate by the Commercial Observer's Power 100 list.{{cite web| url=https://commercialobserver.com/2017/04/the-power-100/#slide4| title=The Power 100| date=April 26, 2017| publisher=Commercial Observer}}

In October 2016, Rechler was elected chairman of the board of directors of the Regional Plan Association, a position he kept until 2022.{{cite web| url=http://www.newsday.com/business/scott-rechler-chosen-as-chair-of-regional-plan-association-1.12471188| title=Scott Rechler chose as chair of Regional Plan Association| date=October 19, 2016| author=Maura McDermott| publisher=Newsday}} In June 2017, he was named as a member of the Metropolitan Transportation Authority board.{{cite web| url=https://therealdeal.com/2017/06/20/scott-rechler-joining-mta-board/| title=Scott Rechler joining MTA board| date=June 20, 2017| publisher=The Real Deal}}{{cite web| url=http://www.crainsnewyork.com/article/20170620/REAL_ESTATE/170629993/scott-rechler-of-rxr-realty-named-to-mta-board| title=Rechler named to MTA board| author=Daniel Geiger| date=June 20, 2017| publisher=Crain's New York}}

In 2018, Rechler was recognized by City & State New York as being one of Long Island’s most influential and powerful people. Rechler is a regular contributor on commercial real estate market trends with commentary appearing on CNBC, Fortune, and The Wall Street Journal.

File:Group_picture_of_Hofstra_students_with_Scott_Rechler.jpg.]]

In 2021, Rechler was appointed to the Federal Reserve Bank of New York’s Board of Directors and was elected to serve a full term the following year.{{cite web |last1=Chaffin |first1=Joshua |title=New York property tycoon to give worn-out offices ‘back to the bank’ |url=https://www.ft.com/content/60a67e2b-8f2c-4ca5-af47-efba143b8236 |website=FT |access-date=24 October 2023}}

In July 2023, Scott and Debby Rechler donated $10 million to fund research for the use of artificial intelligence at Northwell Health and its Feinstein Institutes for Medical Research to address health disparities and improve medical care.{{cite web |last1=Libassi |first1=Matthew |title=Feinstein Institutes gifted $10 million by Scott and Debby Rechler to combat disparities with AI healthcare |url=https://feinstein.northwell.edu/news/the-latest/10-m-gift-supports-ai-driven-research-analysis-to-reduce-healthcare-disparities-improve-care |website=Feinstein |access-date=25 October 2023}}

Rechler is also on the board of the 9/11 Memorial,{{cite web| url=https://www.911memorial.org/board-directors| title=Board of Directors| publisher=9/11 Memorial & Museum}} Drum Major Institute{{cite web| url=http://rew-online.com/2017/01/18/trump-meets-with-rxrs-rechler-mlk-iii/| title=Trump meets with RXR's Rechler, MLK III| author=Holly Dutton| date=January 18, 2017| publisher=Real Estate Weekly}} and the Feinstein Institute for Medical Research,{{cite web| url=http://www.feinsteininstitute.org/2015/10/feinstein-institute-appoints-david-dangoor-scott-rechler-as-new-board-members/| title=Feinstein Institute Appoints David Dangoor, Scott Rechler as New Board Members| date=October 29, 2015| publisher=Feinstein Institute for Medical Research}} is a trustee on the board of Long Island Children's Museum,{{cite web| url=https://www.licm.org/about/board-trustees/| title=Board of Trustees| publisher=Long Island Children's Museum}} as well as co-chair of the Tribeca Film Institute board of directors{{cite web| url=https://tribecafilminstitute.org/pages/board_of_directors| title=Board of Directors| publisher=Tribeca Film Institute}} and the Centre for Social Innovation board of directors.{{cite web| url=http://nyc.socialinnovation.org/board-of-directors| title=Board of Directors| publisher=Centre For Social Innovation}}

He is married to Debby Feldstein, whom he met during college.{{Cite web|last= |first= |author-link= |title=From Clark University to Ground Zero: Scott Rechler '89 recounts his journey at Reunion Dinner |publisher=Clark University|date=May 23, 2014 |url=https://clarknow.clarku.edu/2014/05/23/from-clark-university-to-ground-zero-scott-rechler-89-recounts-his-journey-at-reunion-dinner/ |accessdate=}} They have three children.

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Category:Living people

Category:American chief executives

Category:American Jews

Category:Businesspeople from New York City

Category:Executives of the Metropolitan Transportation Authority

Category:Port Authority of New York and New Jersey people

Category:1967 births