A graduate of Wagner College, Mr. Elder held executive positions at Reckson Realty Associates, Ruben Co., SL Green Realty Corp., Shorenstein Co. and Cushman & Wakefield before teaming up with Mr. Rechler and RXR in January 2011.
“He’s a great leader and a great face for this company in New York City,” Mr. Rechler said.
The two had previously worked hand in hand in expanding and managing Reckson Associates Realty Corp.’s six-building, 5.5-million-square-foot NYC portfolio before the firm was sold to SL Green in 2007.
“When we sold the business to SL Green, I knew I was really going to miss the daily interaction with Scott and the entire team, so I was hoping it would only be a matter of time,” he said. “I wouldn’t have left for just anybody … but Scott gave me the ability to broaden my horizons and focus on one city—New York City.”
The firm signed new and returning tenants to leases that account for more than 2 million square feet of office space in the fourth quarter of 2012, with the Davis Polk deal leading the way in the 870,000 square feet signed across its New York City properties.
In addition to Davis Polk, the firm signed Spotify to 63,000 square feet at 620 Avenue of the Americas, Dentsu McGarry Bowen to 47,000 square feet at the Starrett-Lehigh Building and Knoll Inc. to 47,000 square feet at 1330 Avenue of the Americas.
“I enjoy the leasing part of the equation the most, and that’s where I tend to spend a lot of my time,” Mr. Elder said. “It’s not just figuring out the economics and executing a deal.” It’s also spending time with tenants and brokers, Mr. Elder explained—and understanding the market, and lending, and financing underwriting and compliance issues, and allocating amenities, and problem solving. To be sure, the list went on.
“That’s just scratching the surface,” he said.