RXR Chairman and CEO, Scott Rechler, was recently interviewed by the Commercial Observer for the publication’s year in review. On the 2024 market, Rechler shared, “This was the year we went through five stages of grief, from denial to acceptance. During the year, owners and banks began to capitulate to where values are and acknowledge that, even if rates come down in the short term, longer-term, rates aren’t returning to where they were in this abnormal last decade of extremely low or zero percent rates. There’s been more of a facing of that reality.”
