RXR CEO Scott Rechler On Rethinking The Subway, Raising Taxes And A NYC Second Wave
Bisnow's podcast, Make Yourself At Home, hears from members of the commercial real estate industry about how they are managing this new reality and gaining insight into their day-to-day approaches. You can subscribe on iTunes, Spotify and Amazon Music.
On this episode, our guest is RXR Realty CEO Scott Rechler, who is also the chairman of the Regional Plan Association, a former board member of the Metropolitan Transportation Authority and a former vice chair of the Port Authority.
Like many real estate executives, he has encouraged companies and their workers to return to their city office, and RXR brought its own employees back during the summer. On this episode of Make Yourself At Home, he discusses his concerns about a second wave, the possibility of another lockdown in the city and the lukewarm response to his call for companies to unite and return.
"The response was very positive in terms of the feedback, I would say less positive in terms of the actions," he said. "I would speak to leaders of other companies [and they say], 'We're with you, we're with you, we're just measuring to where things play out.'
"We're still at about 10% to 12% occupancy in our buildings right now, which is disappointing," he added.