FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person * MATURO MICHAEL   2. Issuer Name and Ticker or Trading Symbol RECKSON ASSOCIATES REALTY CORP [RA] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) Exec. V.P., Treas. & CFO (Last) (First) (Middle) C/O RECKSON ASSOCIATES REALTY CORP., 225 BROADHOLLOW ROAD 3. Date of Earliest Transaction (Month/Day/Year) 05/24/2005 (Street) MELVILLE, NY 11747 4. If Amendment, Date Original Filed(Month/Day/Year) 05/26/2005 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 05/24/2005   M(1)   20,000 A $ 12.041 229,217 (2) D   Common Stock 05/24/2005   S   13,700 D $ 31.75 215,517 (2) D   Common Stock 05/24/2005   S   6,000 D $ 31.85 209,517 (2) D   Common Stock 05/24/2005   S   300 D $ 31.87 209,217 (2) D

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code (Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date (Month/Day/Year)

7. Title and Amount of Underlying Securities (Instr. 3 and 4)

8. Price of Derivative Security (Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Employee Stock Option (Rights to Buy)

$ 12.041

05/24/2005

M

20,000

(3)

06/20/2005

Common Stock

20,000

(4)

20,000

D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
MATURO MICHAEL C/O RECKSON ASSOCIATES REALTY CORP. 225 BROADHOLLOW ROAD MELVILLE, NY 11747			Exec. V.P., Treas. & CFO

Signatures

/s/ Michael Maturo		06/02/2005
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	The original filing of this Form 4, which was made on May 24, 2005, reported that Mr. Maturo sold 20,000 shares of common stock. The original filing inadvertently did not also report that Mr. Maturo exercised options on that date and that the shares sold on that date were the shares issued to Mr. Maturo in connection with his option exercise. This amendment is being filed to correct the inadvertent omission of the option exercise.
(2)	Includes 1,481 shares of Common Stock owned through the Company's 401(k) Plan.
(3)	The options vested in three equal annual installments beginning on June 20, 1996.
(4)	N/A.

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