8-K

                      SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C. 20549

                                   FORM 8-K


                                CURRENT REPORT

                                _____________

                    Pursuant to Section 13 or 15(d) of the
                       Securities Exchange Act of 1934


                       Date of Report: October 20, 1997



                       RECKSON ASSOCIATES REALTY CORP.
            (Exact name of Registrant as specified in its Charter)



                                   Maryland
                           (State of Incorporation)




          1-13762                                           11-3233650
(Commission File Number)                          (IRS Employer Id. Number)


                        225 Broadhollow Road                       11747
                         Melville, New York                      (Zip Code)
              (Address of principal executive offices)


                           (516) 694-6900
          (Registrant's telephone number, including area code)


ITEM 5.   OTHER EVENTS

     On October 7, 1997, Reckson Associates Realty Corp. announced that it
has entered into a contract to invest $150 million and acquire a controlling
interest in The Morris Companies, one of New Jersey's largest developers of
"big box" industrial space.

ITEM 7.   FINANCIAL STATEMENTS AND EXHIBITS

(b)  Exhibits

     99        Press Release, dated October 7, 1997



                                  SIGNATURES


     Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.


                              RECKSON ASSOCIATES REALTY CORP.





                              /s/ J. Michael Maturo                        
                              -------------------------------
                              J. Michael Maturo
                              Executive Vice President
                              and Chief Financial Officer



Date:  October 20, 1997

EX-99

                                                       EXHIBIT 99
                                                       ----------

RECKSON ASSOCIATES REALTY  CORP. (NYSE:   RA) announced  that it has  entered
into a contract to invest $150 million  and acquire a controlling interest in
the  Morris Companies, one  of New Jersey's  largest developers of  "big box"
industrial space.   This investment marks Reckson's entrance into the area of
"big box" distribution facilities.

Reckson will initially invest approximately $87 million for a 68% interest in
the Morris Companies,  which will be  reorganized and renamed  Reckson/Morris
Industrial  ("Reckson/Morris").   Additional  investments  will  be  made  as
required to finance Reckson/Morris's future growth.  Substantially all of the
proceeds  from  Reckson's  initial  investment  will  be  utilized  to  repay
outstanding  mortgage  debt  encumbering  the  portfolio.    Closing  of  the
transaction  is  anticipated  to occur  by  the  end of  the  year.   Reckson
anticipates an initial net operating income yield of 10%.

The  Morris  Companies'  portfolio  consists  of  23  industrial  properties,
including  two  projects  under  development  comprising  approximately  four
million square  feet, and contracts  or options to acquire  approximately 365
acres of developable land.  The portfolio is located throughout  Northern and
Central New Jersey and  has a weighted average age of less  than 10 years and
average ceiling heights of approximately 30 feet.

Reckson/Morris  will be  formed as  a private  real estate  investment trust,
utilizing the  "downreit" structure, with  Reckson controlling a  majority of
the board of directors.  For accounting purposes Reckson will consolidate the
portfolio of properties into its financial statements.

The  Morris Companies, headquartered  in Secaucus,  New Jersey,  is currently
owned by Robert Morris, Chief Executive Officer and Joseph Morris, President,
who together  founded the company  over 25 years  ago.  The  Morris Companies
have earned a  reputation as one of  New Jersey's largest and  most respected
developers and operators of "big box" industrial space, having developed over
15 million  square feet since the  company's inception for such  national and
regional tenants as Coca Cola, Barnes & Noble and Canon.

Commenting  on the  transaction,  Donald Rechler,  the  Chairman of  Reckson,
stated, "After many years of admiring the success of the Morris's approach to
the  business,  we feel  very fortunate  to  join with  them in  taking their
company  to  the  next  level.    We  have  tremendous  confidence  that  the
combination  of the  Morris and  Reckson management  teams will  successfully
source and capitalize on many unique opportunities to create value."

Reckson/Morris will be formed with a conservative capital structure having an
initial debt ratio of  less than 12%, positioning it to  pursue an aggressive
growth strategy.   In  New Jersey,  Reckson/Morris will  target consolidation
opportunities within the (one billion) square foot industrial market, develop
"big box" build to suits and source, redevelop and reposition underperforming
industrial  properties.   In  addition,  Reckson/Morris  will  also  seek  to
establish  a platform  for  growth  by acquiring  and  integrating "big  box"
developers with entrepreneurial management teams in selected markets.

Reckson/Morris plans to  capitalize on the Morris Companies'  reputations and
existing relationships  with regional and  national tenants in order  to grow
the  company.    "Our  vision  is to  create  an  infrastructure  where local
developers who share similar reputations and operating  philosophies merge to
capitalize on each  other's tenant relationships in each  of their respective
markets, increasing the company's national tenant base while offering tenants
the   benefits  of  local  expertise,"  commented  Scott  Rechler,  Reckson's
President.

Mr.  Rechler continued,  "We believe  that  the private  REIT structure  will
provide us  with  a  competitive advantage  in  connection  with  prospective
acquisitions as it  offers the same tax advantages  as publicly-traded REITs.

Furthermore,  this structure  offers  local  developers  the  opportunity  to
diversify  their  property  holdings, take  advantage  of  the Reckson/Morris
management  and infrastructure  and participate  during the  early stages  of
growing a well capitalized industrial REIT."

Joseph Morris, President  of the Morris Companies, stated,  "We are extremely
excited about the opportunity to align ourselves with a partner that  has the
proven  expertise and  vision of  Reckson."   "In  particular," added  Robert
Morris, Chief Executive Officer of  the Morris Companies, "Reckson has proven
its ability to identify, integrate and align entrepreneurial management teams
toward executing a unified business plan."

Reckson Associates Realty Corp. is a self-administered  and self-managed real
estate  investment  trust  (REIT)   specializing  in  acquisition,   leasing,
financing, management and development of office and industrial properties.

Reckson's core growth  strategy is focused on the  suburban market within the
50-mile radius  surrounding New  York  City.   Since  the completion  of  its
initial public offering in  May 1995, Reckson has  acquired or contracted  to
acquire  approximately  $730 million  of properties  comprising approximately
13.0 million square feet of space.

Reckson is one of the largest publicly-traded  owners and managers of Class A
suburban office and  industrial properties in the New  York "Tri-State" area,
with  172 properties  comprised  of approximately  17.5  million square  feet
either owned, directly or indirectly, or under contract.