How I Built a $6B Real Estate Empire Twice | Scott Rechler

In a market where Manhattan offices sit empty and $1.5T in real estate debt awaits refinancing, timing is paramount. Ask Scott Rechler—he sold his company at the peak in '07, waited out the crash, then built RXR into a $17 B GAV empire.In this episode of Change Order, hosted by Jason Shuman, he shares: • how he built a $6B business— twice• handling Carl Icahn's hostile takeover bid • what he learnt from Sam Zell & Danny Meyer• how he trusted his gut over family and shareholder adviceABOUT US:Primary is the largest early-stage venture firm in the world, with over $1B in Assets Under Management, and notable investments under its belt include unicorns like Slice, Chief, Electric, and more.With a dedicated team of Partners, Associates, and Advisors, Primary operates with one clear modus operandi: to allocate unreasonable resources toward building unfair advantages.Follow us on LinkedIn:Scott RechlerJason ShumanPrimary Venture Partners(00:00:00) Trailer(00:00:45) Introduction(00:01:00) Founder Drift(00:03:00) Focus(00:06:50) The template and the process(00:09:16) Investors and firm builders(00:12:09) Entrepreneurial mindset(00:15:31) Understanding business intricacies(00:19:58) Engagement strategy(00:23:10) IPO insights and decisions(00:30:28) Public vs Private(00:33:27) Highly efficient private market(00:36:12) The January 7 acquisition(00:40:57) Secession planning(00:43:25) Starting RXR a day later(00:45:27) Self-funding 150 employees(00:47:03) A blank piece of paper(00:48:51) Recession(00:53:56) Sam's story(00:57:02) Maintaining conviction(00:59:18) Expanding beyond familiar markets(01:05:41) New York(01:07:56) RXR Involvement and startup insights(01:12:33) Qualities of startup founders(01:16:29) Mayor of New York(01:17:45) Outro