New offer shakes up Hauppauge-based Reckson Realty deal

A new bid for Long Island real estate giant Reckson Associates Realty Corporation came in Thursday, throwing the initial buyer for a spin. Reckson has built itself into the top commercial real estate

News 12 Staff

Nov 16, 2006, 11:29 PM

Updated 6,455 days ago

Share:

A new bid for Long Island real estate giant Reckson Associates Realty Corporation came in Thursday, throwing the initial buyer for a spin.
Reckson has built itself into the top commercial real estate developer on Long Island. SL Green Realty Corporation offered Reckson approximately $4 billion in its takeover effort. Although some shareholders oppose SL Green's efforts, the deal was expected to go through before Icahn and Macklowe Properties proposed their $4.6 billion deal. The newest bidder is based in Manhattan, whereas SL Green would keep the company Long Island-owned.
Economic experts suggest Long Island's economy will not be affected much either way. However, Reckson has worked with Islanders owner Charles Wang on an ambitious renovation of the Nassau Coliseum. Some experts wonder if Manhattan-based owners would continue to fight as passionately for the project as a Long Island-based company would.


More from News 12
2:29
Long Island residents face a myriad of issues due to global tech outage

Long Island residents face a myriad of issues due to global tech outage

1:45
Warm and dry weekend ahead; storms return for middle of next week

Warm and dry weekend ahead; storms return for middle of next week

1:52
Massive technology outage impacts LaGuardia Airport

Massive technology outage impacts LaGuardia Airport

0:28
Police: Hauppauge crash causes fuel spill on Motor Parkway

Police: Hauppauge crash causes fuel spill on Motor Parkway

2:01
‘You do have shared vulnerabilities.’ Security experts explain risks associated with global IT outage

‘You do have shared vulnerabilities.’ Security experts explain risks associated with global IT outage

1:30
Students take part federal court program in Central Islip

Students take part federal court program in Central Islip

A massive tech outage is causing worldwide disruptions. Here's what we know

A massive tech outage is causing worldwide disruptions. Here's what we know

5:00
Tech expert weighs in on Microsoft outage impacts across the globe

Tech expert weighs in on Microsoft outage impacts across the globe

Northwell Health activates emergency operations center amid technology outage, NYU Langone remains open

Northwell Health activates emergency operations center amid technology outage, NYU Langone remains open

Prosecutors: Bellport woman indicted for alleged hit-and-run crash that killed volunteer firefighter

Prosecutors: Bellport woman indicted for alleged hit-and-run crash that killed volunteer firefighter

2:27
Food Truck Friday: Roxy's Ice Cream Truck

Food Truck Friday: Roxy's Ice Cream Truck

2:27
Suffolk man faces hate crime charges, accused of ramming car with 4 Muslim men in it

Suffolk man faces hate crime charges, accused of ramming car with 4 Muslim men in it

13:51
'I’m not supposed to be here tonight.' Donald Trump recounts assassination attempt

'I’m not supposed to be here tonight.' Donald Trump recounts assassination attempt

0:22
Detectives: Man shot and killed his dog after it attacked him at Christopher Morley Park

Detectives: Man shot and killed his dog after it attacked him at Christopher Morley Park

2:01
Great South Bay Music Festival kicks off in Patchogue

Great South Bay Music Festival kicks off in Patchogue

0:38
Resilient North Babylon HS grad gets 5-figure donation from restaurant’s grand opening earnings

Resilient North Babylon HS grad gets 5-figure donation from restaurant’s grand opening earnings

1:35
Jericho lawyer wins Optimum's Small Business Boost Sweepstakes

Jericho lawyer wins Optimum's Small Business Boost Sweepstakes

0:17
2 East Northport men accused of selling cocaine out of their home

2 East Northport men accused of selling cocaine out of their home

1:56
Future health care workers shadow doctors at LIJ Valley Stream Hospital

Future health care workers shadow doctors at LIJ Valley Stream Hospital

0:46
17th annual ‘Soldier Ride’ raises over $160,000

17th annual ‘Soldier Ride’ raises over $160,000