UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
SCHEDULE 13G
INFORMATION TO BE INCLUDED IN STATEMENTS FILED
PURSUANT TO RULES 13d-1(b)(c)AND (d) AND
AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-
2(b)
RECKSON ASSOCIATES REALTY CORPORATION -B
(Name of Issuer)
COMMON STOCK
(Title of Class of Securities)
75621K304
(CUSIP Number)
Basso Securities Ltd.
1281 East Main Street
Stamford, Connecticut 06902
(203) 324-8400
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
-with copies to-
Ricardo W. Davidovich, Esq.
Tannenbaum Helpern Syracuse & Hirschtritt
900 Third Avenue - 13th Floor
New York, NY 10022
February 27, 2001
(Date of Event Which Requires Filing of this Statement)
Check the following box to designate the rule pursuant to which
this Schedule is filed:
Rule 13d-1(b)
X Rule 13d-1(c)
Rule 13d-1(d)
The information required in the remainder of this cover page
shall be deemed to be "filed" for the purpose of Section 18 of
the Securities Exchange Act of 1934 ("Act") or otherwise subject
to the liabilities of that section of the Act but shall be subject
to all other provisions of the Act.
CUSIP No. 75621K304
1. Name of Reporting Person I.R.S. Identification Nos. of
Above Persons (entities only)
Basso Securities Ltd.
2. Check the Appropriate Box If A Member Of A Group (See
Instructions)
(a)
(b)
3. SEC Use Only
4. Citizen Or Place Of Organization: Delaware
Number of Shares 5. Sole Voting Power 551,500 shares of
Class B common stock
Beneficially
Owned by 6. Shared Voting Power 0
Each
Reporting 7. Sole Dispositive Power 551,500 shares
of Class B common stock
Person
With 8. Shared Dispositive Power 0
9. Aggregate Amount Beneficially Owned by Each Reporting
Person
551,500 shares of Class B common stock
10. Check if the Aggregate Amount in Row (9) Excludes
Certain Shares
(See Instruction)
11. Percent of Class Represented by Amount in Row 9
5.36%
12. Type of Reporting Person (See Instructions) CO
CUSIP No. 75621K304
Item 1: Security and Issuer
1(a) Name of Issuer
Reckson Associates Realty Corporation
1(b) Address of Issuer's Principal Executive Offices
225 Broadhollow Road
Melville, New York 11747
United States
Item 2: Identity and Background
2(a) Name of person Filing:
Basso Securities Ltd.
2(b) Address of Principal Business Office or, if none,
Residence:
The address of the reporting person is:
1281 East Main Street
Stamford, CT 06902
2(c) Citizenship/ Corporation organized
Delaware, USA
2(d) Title of Class of Security
Common Stock
2(e) Cusip Number
75621K304
Item 3: If this statement is filed pursuant to Rule 13d-1(b)or
13d-2(b) or 13d-2(c) promulgated under the Securities Exchange
Act of 1934, check whether the filing is a:
CUSIP No. 75621K304
a. Broker or Dealer registered under Section 15 of the Act,
b. Bank as defined in Section 3(a)(6) of the Act,
c. Insurance Company as defined in Section 3(a)(19) of the
Act,
d. Investment Company registered under Section 8 of the
Investment Company Act,
e. Investment Adviser in accordance with Rule 13d-
1(b)(1)(ii)(E),
f. Employee Benefit Plan, or Endowment Fund in
accordance with Rule 13d-1(b)(ii)(F),
g. Parent Holding Company or Control Person, in
accordance with Rule 13d-1(b)(ii)(G); (Note: see Item 7)
h. A saving association as defined in Section 3(b) of the
Federal Deposit Insurance Act (12 U.S.C. 1813)
i. A church plan that is excluded form the definition of an
investment company under section 3(c)(14) of the Investment
Company Act of 1940;
j. Group, in accordance with Rule 13d-1(b)(1)(ii)(J).
Item 4: Ownership
4(a) Amount Beneficially Owned
As of February 27, 2001, an aggregate 551,500 shares of Class B
common stock were beneficially owned by Basso Securities Ltd.,
as an advisor (portfolio manager) to certain funds managed by
DKR Management Company Inc. (DKRMCI). Basso Securities
Ltd. disclaims beneficial ownership of the holdings reported
herein.
4(b) Percent of Class
5.36%
(The percentage was calculated by dividing 551,500 shares of
common stock held by Basso Securities Ltd. by 10,284,000
(outstanding based on the latest information provided by
Bloomberg)).
4(c) Number of shares as to which the person has
(i) Sole Power to vote or to direct the vote
551,500 Class B common stock
(Holders of Reckson Class B common stock and Reckson
common stock vote together as a single class.)
CUSIP No. 75621K304
(ii) Shared power to vote or to direct the vote
0
(iii) Sole power to dispose or to direct the disposition of
551,500 Class B common stock
(Holders of Reckson Class B common stock and Reckson
common stock vote together as a single class.)
(iv) Shared power to dispose or to direct the disposition of
0
Instruction:
For computation regarding securities which represent a right to
acquire an underlying security see Rule 13d-3(d)(1).
Item 5: Ownership of Five Percent or less of a Class
If this statement is being filed to report the fact that as of the
date hereof the reporting person has ceased to be the beneficial
owner of more than five percent of the class of securities, check
the following
Instruction: Dissolution of a group requires a response to this
item.
Item 6: Ownership of More than Five percent on Behalf of
Another Person.
Basso Securities Ltd. has entered into an Advisory Services
Agreement with DKR Management Company Inc. (DKRMCI), a
registered investment adviser, to act as the portfolio manager to
certain funds managed by DKRMCI. As such, DKRMCI, the
investment advisor to the funds managed by Basso Securities
Ltd., has more than five percent interest in the securities and
has the right to receive or the power to direct the receipt of
dividends from, or the proceeds from the sale of, such security.
Item 7: Reported on By the Parent Holding Company.
If a parent holding company has filed this schedule, pursuant to
Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an
exhibit stating the identity and the Item 3 classification of the
relevant subsidiary. If a parent holding company has filed this
schedule pursuant to Rule 13d-1(c), attach an exhibit stating the
identity of each member of the group.
Not Applicable
CUSIP No. 75621K304
Item 8: Identification and Classification of Members of
the Group.
If a group his filed this schedule pursuant to Rule 13d-
1(b)(ii)(H), so indicate under item 3(h) and attach an exhibit
stating the identity and Item 3 classification of each member of
the group. If a group has filed this schedule pursuant to Rule
13d-1(c), attach an exhibit stating the identity of each member
of the group.
Not Applicable
Item 9: Notice of Dissolution of Group
Notice of dissolution of a group may be furnished as an exhibit
stating the date of the dissolution and that all further filings
with respect to transactions in the security reported on will be
filed, if required, by members of he group, in their individual
capacity. See item 5.
Not Applicable
Item 10: Certification
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were not acquired and
are not held for the purpose of or with the effect of changing
influencing the control of the issuer of the securities and were
not acquired and are not held in connection with or as a
participant in any transaction having that purpose or effect.
Signature
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this statement
is true, complete and correct.
Date: March 8, 2001
/s/ Howard I. Fischer
____________________________
Signature
Howard I. Fischer
President