RXR Chairman and CEO, Scott Rechler, shared his recent speaking engagement at Harvard Business School about Harvard Business School’s recent case study on RXR’s NYC office recovery strategy.
Scott explained that in late 2022, when RXR’s recovery strategy began, post-COVID work-from-home trends and sharply higher interest rates led many to believe the sector was uninvestable. However, as Scott has learned throughout his career, it’s these moments that often present the best opportunities.
RXR’s approach was never a broad macro bet but a focused, stock-picker strategy on specific buildings, capital structures, and entry points, listening to tenants and market behavior. This discipline stems from RXR’s conviction about what makes New York different: its dense concentration of talent, or “People Power,” which adds value, especially in a digital world. Demand for top-tier NY office space has rebounded strongly, especially for the right buildings.
The students pressed on AI, which remains the central question in office markets. Scott noted that disruption rarely follows a straight line, and the real test is staying humble and recalibrating as facts change, a maxim of RXR.
When asked if they would have invested, the class overwhelmingly said yes.
