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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0000905148-03-004030.txt : 20031120
<SEC-HEADER>0000905148-03-004030.hdr.sgml : 20031120
<ACCEPTANCE-DATETIME>20031120170217
ACCESSION NUMBER:		0000905148-03-004030
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20031110
FILED AS OF DATE:		20031120

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			RECKSON ASSOCIATES REALTY CORP
		CENTRAL INDEX KEY:			0000930548
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				113233650
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		225 BROADHOLLOW RD
		CITY:			MELVILLE
		STATE:			NY
		ZIP:			11747
		BUSINESS PHONE:		6316946900

	MAIL ADDRESS:	
		STREET 1:		225 BROADHOLLOW RD
		CITY:			MELVILLE
		STATE:			NY
		ZIP:			11747

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			RECHLER DONALD J
		CENTRAL INDEX KEY:			0001061715

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-13762
		FILM NUMBER:		031015992

	BUSINESS ADDRESS:	
		STREET 1:		225 BROADHOLLOW RD
		STREET 2:		C/O RECKSON ASSOCIATES
		CITY:			MELVILLE
		STATE:			NY
		ZIP:			11747
		BUSINESS PHONE:		6316226648

	MAIL ADDRESS:	
		STREET 1:		225 BROADHOLLOW RD
		STREET 2:		C/O RECKSON ASSOCIATES
		CITY:			MELVILLE
		STATE:			NY
		ZIP:			11747
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>efc3-1717_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<!-- - EDGAR Ease Plus 1.0                                   07/25/03  TT    -->
<ownershipDocument>
    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType>
   <periodOfReport>2003-11-10</periodOfReport>
   <notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0000930548</issuerCik>
        <issuerName>RECKSON ASSOCIATES REALTY CORP</issuerName>
        <issuerTradingSymbol>RA</issuerTradingSymbol>
   </issuer>
   <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001061715</rptOwnerCik>
            <rptOwnerName>RECHLER DONALD J</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O RECKSON ASSOCIATES REALTY CORP.</rptOwnerStreet1>
            <rptOwnerStreet2>225 BROADHOLLOW ROAD</rptOwnerStreet2>
            <rptOwnerCity>MELVILLE</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>11747</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
         <isDirector>1</isDirector>
         <isOfficer>0</isOfficer>
         <isTenPercentOwner>0</isTenPercentOwner>
         <isOther>0</isOther>
      </reportingOwnerRelationship>
   </reportingOwner>
 <derivativeTable>
   <derivativeTransaction>
      <securityTitle>
         <value>Units of Limited Partnership Interest</value>
            <footnoteId id="F1"/>
      </securityTitle>
      <conversionOrExercisePrice>
            <footnoteId id="F2"/>
      </conversionOrExercisePrice>
      <transactionDate>
         <value>2003-11-10</value>
      </transactionDate>
      <transactionCoding>
         <transactionFormType>4</transactionFormType>
         <transactionCode>D</transactionCode>
         <equitySwapInvolved>0</equitySwapInvolved>
      </transactionCoding>
      <transactionAmounts>
         <transactionShares>
           <value>42826</value>
         </transactionShares>
         <transactionPricePerShare>
            <footnoteId id="F4"/>
         </transactionPricePerShare>
         <transactionAcquiredDisposedCode>
           <value>D</value>
         </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <exerciseDate>
         <value>1997-06-02</value>
      </exerciseDate>
      <expirationDate>
            <footnoteId id="F3"/>
      </expirationDate>
      <underlyingSecurity>
         <underlyingSecurityTitle>
           <value>Class A common stock</value>
         </underlyingSecurityTitle>
         <underlyingSecurityShares>
           <value>42826</value>
         </underlyingSecurityShares>
      </underlyingSecurity>
      <postTransactionAmounts>
         <sharesOwnedFollowingTransaction>
           <value>0</value>
         </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
         <directOrIndirectOwnership>
           <value>D</value>
         </directOrIndirectOwnership>
      </ownershipNature>
   </derivativeTransaction>
   <derivativeTransaction>
      <securityTitle>
         <value>Units of Limited Partnership Interest</value>
            <footnoteId id="F1"/>
      </securityTitle>
      <conversionOrExercisePrice>
            <footnoteId id="F2"/>
      </conversionOrExercisePrice>
      <transactionDate>
         <value>2003-11-10</value>
      </transactionDate>
      <transactionCoding>
         <transactionFormType>4</transactionFormType>
         <transactionCode>D</transactionCode>
         <equitySwapInvolved>0</equitySwapInvolved>
      </transactionCoding>
      <transactionAmounts>
         <transactionShares>
           <value>967799</value>
         </transactionShares>
         <transactionPricePerShare>
            <footnoteId id="F4"/>
         </transactionPricePerShare>
         <transactionAcquiredDisposedCode>
           <value>D</value>
         </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <exerciseDate>
         <value>1997-06-02</value>
      </exerciseDate>
      <expirationDate>
            <footnoteId id="F3"/>
      </expirationDate>
      <underlyingSecurity>
         <underlyingSecurityTitle>
           <value>Class A common stock</value>
         </underlyingSecurityTitle>
         <underlyingSecurityShares>
           <value>967799</value>
         </underlyingSecurityShares>
      </underlyingSecurity>
      <postTransactionAmounts>
         <sharesOwnedFollowingTransaction>
           <value>0</value>
         </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
         <directOrIndirectOwnership>
           <value>I</value>
            <footnoteId id="F5"/>
         </directOrIndirectOwnership>
         <natureOfOwnership>
           <value>By partnerships and corporations</value>
         </natureOfOwnership>
      </ownershipNature>
   </derivativeTransaction>
 </derivativeTable>
   <footnotes>
      <footnote id="F1"> The Units represent units of limited partnership interest in Reckson Operating Partnership, L.P. (&quot;ROP&quot;), of which the Company is the general partner.</footnote>

      <footnote id="F2"> Upon exercise, the Company may, at its option, issue one share of class A common stock for each Unit or the cash equivalent value thereof to the reporting person.</footnote>

      <footnote id="F3"> Not applicable.</footnote>

      <footnote id="F4"> The Units, which were formerly held by the reporting person, were transferred to ROP in exchange for ROP's transfer to Rechler Equity Partners I LLC of certain industrial real estate properties, or interests therein, located in Long Island, New York.</footnote>

      <footnote id="F5"> The reporting person disclaims beneficial ownership for purposes of Section 16 or for any other purpose.</footnote>
   </footnotes>
   <ownerSignature>
      <signatureName>/s/ Donald J. Rechler</signatureName>
      <signatureDate>2003-11-19</signatureDate>
   </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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