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Philip M. "Tod" Waterman III, 34
Senior VP
Reckson Associates Realty Corp.
When suburban landlord Reckson Associates Realty moved into the Big Apple, it attained instant credibility by choosing Tod Waterman to head its new office.
Manhattan-born Mr. Waterman is a New Yorker’s New Yorker. He’s the son of a Wall Street banker. He’s the former head of U.S. leasing for Jerry Speyer, whose Chrysler Building and Rockefeller Center are veritable symbols of the city. Even his great passion, golf, has a local spin to it: Mr. Waterman played last year in the Metropolitan Open.
“When you walk down the street with Tod, you don’t get half a block without him knowing two or three people,” says Scott Rechler, co-chief executive of Melville, L.I.-based Reckson. “He’s a walking Rolodex.”
Some of his polish in fact comes from years spent out of town. He lived in Hong Kong during his childhood, graduated from the University of Michigan and did stints for Mr. Speyer in Chicago, Los Angeles and San Francisco.
When Mr. Waterman joined Reckson in March 1999, the real estate investment trust was wrapping up its purchase of Manhattan-based Tower Realty Trust Inc. He quickly acquired 919 Third Ave. and 1350 Sixth Ave. to signal Reckson’s resolve to be a serious contender in the city.
“When we finished the Tower deal, there were those who thought, ‘Reckson is done,’” Mr. Waterman says. “But we’ve since shown the market we have the intellectual and financial capital to undertake the most complicated, capital-intensive transactions and compete against the biggest players for them.”