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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
 OP9YeImi316phfXiOBlu1UrydSMmrK6x9gifC5F5cBjutiAMclGcmwuurE5TUqYi
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<SEC-DOCUMENT>0000905148-06-003163.txt : 20060406
<SEC-HEADER>0000905148-06-003163.hdr.sgml : 20060406
<ACCEPTANCE-DATETIME>20060406164132
ACCESSION NUMBER:		0000905148-06-003163
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20060404
FILED AS OF DATE:		20060406
DATE AS OF CHANGE:		20060406

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:			WATERMAN PHILIP III
		CENTRAL INDEX KEY:			0001270352

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-13762
		FILM NUMBER:		06745526

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		6316946900

	MAIL ADDRESS:	
		STREET 1:		C/O RECKSON ASSOCIATES REALTY CORP
		STREET 2:		225 BROADHOLLOW RD
		CITY:			MELVILLE
		STATE:			NY
		ZIP:			11747
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>efc6-1282_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2006-04-04</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000930548</issuerCik>
        <issuerName>RECKSON ASSOCIATES REALTY CORP</issuerName>
        <issuerTradingSymbol>RA</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001270352</rptOwnerCik>
            <rptOwnerName>WATERMAN PHILIP III</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>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Exec. VP, Ch. Development Off.</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>LTIP Units</value>
                <footnoteId id="F1"/>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F2"/>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2006-04-04</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>2500</value>
                </transactionShares>
                <transactionPricePerShare>
                    <footnoteId id="F4"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2008-04-06</value>
                <footnoteId id="F2"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F3"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                    <footnoteId id="F2"/>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>2500</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>5100</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">These LTIP Units, which are profit interest units of limited partnership interest in Reckson Operating Partnership, L.P. (the
 &quot;Operating Partnership&quot;), were granted on April 4, 2006, and are subject to time and performance-based vesting.</footnote>
        <footnote id="F2">Subject to vesting requirements and achieving minimum allocations to the capital accounts of the LTIP Units for federal
 income tax purposes, the registrant may convert vested LTIP Units into an equal number of common units of limited
 partnership interest in the Operating Partnership beginning on April 4, 2008 on a one-for-one basis.  The registrant may
 then request that the Operating Partnership redeem the common units into which the vested LTIP Units have been converted for
 cash in an amount equal to the then fair market value of a share of the common stock of Reckson Associates Realty Corp. (the
 &quot;Company&quot;) or, at the election of the Company, for shares of common stock on a one-for-one basis.</footnote>
        <footnote id="F3">The LTIP Units do not have an expiration date.</footnote>
        <footnote id="F4">N/A.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Philip Waterman, III</signatureName>
        <signatureDate>2006-04-06</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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