X0202 4 2006-12-27 0 0000930548 RECKSON ASSOCIATES REALTY CORP RA 0001061714 RECHLER SCOTT H 625 RECKSON PLAZA C/O RECKSON ASSOCIATES UNIONDALE NY 11556 1 1 0 0 Chief Executive Officer Common Stock 2006-12-27 4 M 0 87500 21.7875 A 495687 D Common Stock 2006-12-27 4 S 0 50 45.50 D 495637 D Common Stock 2006-12-27 4 S 0 12750 45.51 D 482887 D Common Stock 2006-12-27 4 S 0 600 45.52 D 482287 D Common Stock 2006-12-27 4 S 0 35650 45.53 D 446637 D Common Stock 2006-12-27 4 S 0 3150 45.54 D 443487 D Common Stock 2006-12-27 4 S 0 1500 45.55 D 441987 D Common Stock 2006-12-27 4 S 0 2050 45.56 D 439937 D Common Stock 2006-12-27 4 S 0 4850 45.57 D 435087 D Common Stock 2006-12-27 4 S 0 5900 45.58 D 429187 D Common Stock 2006-12-27 4 S 0 3045 45.59 D 426142 D Common Stock 2006-12-27 4 S 0 4556 45.60 D 421586 D Common Stock 2006-12-27 4 S 0 3049 45.61 D 418537 D Common Stock 2006-12-27 4 S 0 4700 45.62 D 413837 D Common Stock 2006-12-27 4 S 0 2100 45.63 D 411737 D Common Stock 2006-12-27 4 S 0 1800 45.64 D 409937 D Common Stock 2006-12-27 4 S 0 650 45.65 D 409287 D Common Stock 2006-12-27 4 S 0 200 45.66 D 409087 D Common Stock 2006-12-27 4 S 0 200 45.67 D 408887 D Common Stock 2006-12-27 4 S 0 550 45.68 D 408337 D Common Stock 2006-12-27 4 S 0 150 45.86 D 408187 D Employee Stock Option (Right t Buy) 21.875 2006-12-27 4 M 0 87500 0 D 1998-08-11 2008-08-11 Common Stock 87500 11750 D On December 27, 2006, the registrant exercised employee stock options for an aggregate of 87,500 shares of common stock of Reckson Associates Realty Corp., (the "Company"), and subsequently sold such shares in the open market. Includes 646 shares owned through the Company's 401(k) Plan. Mr. Rechler indirectly holds 2,929 shares of common stock in trust for his children, beneficial ownership of which is disclaimed by Mr. Rechler. N/A /s/ Scott H. Rechler 2006-12-29