The Bob Knakal Show Special Guest Scott Rechler at Baruch College NYC
Dec 9, 2024
Scott Rechler, Chairman & CEO of RXR and a powerhouse in New York real estate, shares his fascinating journey from a family aluminum business to leading a major firm. Dive into his insights on the evolving NYC real estate market and economic downturn navigation. Rechler discusses the anticipated 2025 sell-off and emphasizes the importance of adaptability in negotiations. He also highlights the growing need for housing and how AI is shaping office investment strategies, making this conversation a treasure trove of industry knowledge.
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2025 NYC Market Sell-Off Insight
- The 2025 NYC real estate market will experience the largest sell-off in 40 years driven by both discretionary and non-discretionary sellers.
- Different sectors like retail and industrial perform well while multifamily and B&C office face huge refinance risks.
Rechler Family Innovation Roots
- Scott Rechler's family started with innovative aluminum art easels and then aluminum beach chairs.
- This family business eventually grew into real estate by building industrial parks and office buildings.
Institutional Shift in Real Estate
- Real estate runs in Scott Rechler's blood, shaped by childhood exposure and summers in his father's offices.
- The 1990s saw a shift from local relationships to institutional real estate investing, which Scott entered early.