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                       SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 20549


                                  SCHEDULE 13G
                                 (RULE 13D-102)


             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)
                          (AMENDMENT NO. ____________)*



                         RECKSON ASSOCIATES REALTY CORP.
--------------------------------------------------------------------------------
                                (Name of Issuer)

                 Class A Common Stock, par value $0.01 per share
--------------------------------------------------------------------------------
                         (Title of Class of Securities)

                                    75621K304
--------------------------------------------------------------------------------
                                 (CUSIP Number)

                                  May 24, 2001
--------------------------------------------------------------------------------
             (Date of Event Which Requires Filing of this Statement)




Check the appropriate 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 remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which would
alter the disclosures provided in a prior cover page.

       The information required in the remainder of this cover page shall not 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 (however, see
the Notes).


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CUSIP NO. 75621K304                   13G                     PAGE 2 OF 8 PAGES
-------------------                                           -----------------




                                                                                         
-------------------- ------------------------------------------------------------------------- ------------------------
         1           Names of Reporting Persons/I.R.S. Identification Nos. of Above Persons
                     (Entities Only)

                     Crescent Real Estate Equities Limited Partnership
                     I.R.S. # 75-2531304
-------------------- ------------------------------------------------------------------------- ------------------------
         2           Check the Appropriate Box if a Member of a Group              (a) [ ]
                     (See Instructions)                                            (b) [ ]

-------------------- ------------------------------------------------------------------------- ------------------------
         3           SEC Use Only

-------------------- ------------------------------------------------------------------------- ------------------------
         4           Citizenship or Place of Organization

                     Delaware
-------------------- ----------------- --------------------------------------------------------------------------------
     Number of       5                 Sole Voting Power

                                       N/A
                     ----------------- --------------------------------------------------------------------------------
      Shares         6                 Shared Voting Power

                                       3,453,881
                     ----------------- --------------------------------------------------------------------------------
   Beneficially      7                 Sole Dispositive Power

                                       N/A
                     ----------------- --------------------------------------------------------------------------------
     Owned by        8                 Shared Dispositive Power

       Each                            3,453,881

     Reporting

    Person With
-------------------- ---------------------------------------------------------------------------- ---------------------
         9           Aggregate Amount Beneficially Owned by Each Reporting Person

                     3,453,881
-------------------- ---------------------------------------------------------------------------- ---------------------
        10           Check if the Aggregate Amount in Row (9) Excludes Certain Shares  [ ]
                     (See Instructions)

-------------------- ---------------------------------------------------------------------------- ---------------------
        11           Percent of Class Represented by Amount in Row (9)

                     7.5%
-------------------- ---------------------------------------------------------------------------- ---------------------
        12           Type of Reporting Person (See Instructions)

                     PN
-------------------- ---------------------------------------------------------------------------- ---------------------




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CUSIP NO. 75621K304                   13G                     PAGE 3 OF 8 PAGES
-------------------                                           -----------------



                                                                                         
-------------------- ------------------------------------------------------------------------- ------------------------
         1           Names of Reporting Persons/I.R.S. Identification Nos. of Above Persons
                     (Entities Only)

                     Crescent Real Estate Equities, Ltd.
                     I.R.S. # 75-2526839
-------------------- ------------------------------------------------------------------------- ------------------------
         2           Check the Appropriate Box if a Member of a Group              (a) [ ]
                     (See Instructions)                                            (b) [ ]

-------------------- ------------------------------------------------------------------------- ------------------------
         3           SEC Use Only

-------------------- ------------------------------------------------------------------------- ------------------------
         4           Citizenship or Place of Organization

                     Delaware
-------------------- ----------------- --------------------------------------------------------------------------------
     Number of       5                 Sole Voting Power

                                       N/A
                     ----------------- --------------------------------------------------------------------------------
      Shares         6                 Shared Voting Power

                                       3,453,881
                     ----------------- --------------------------------------------------------------------------------
   Beneficially      7                 Sole Dispositive Power

                                       N/A
                     ----------------- --------------------------------------------------------------------------------
     Owned by        8                 Shared Dispositive Power

       Each                            3,453,881

     Reporting

    Person With
-------------------- ---------------------------------------------------------------------------- ---------------------
         9           Aggregate Amount Beneficially Owned by Each Reporting Person

                     3,453,881
-------------------- ---------------------------------------------------------------------------- ---------------------
        10           Check if the Aggregate Amount in Row (9) Excludes Certain Shares   [ ]
                     (See Instructions)

-------------------- ---------------------------------------------------------------------------- ---------------------
        11           Percent of Class Represented by Amount in Row (9)

                     7.5%
-------------------- ---------------------------------------------------------------------------- ---------------------
        12           Type of Reporting Person (See Instructions)

                     CO
-------------------- ---------------------------------------------------------------------------- ---------------------




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CUSIP NO. 75621K304                   13G                     PAGE 4 OF 8 PAGES
-------------------                                           -----------------



                                                                                         
-------------------- ------------------------------------------------------------------------- ------------------------
         1           Names of Reporting Persons/I.R.S. Identification Nos. of Above Persons
                     (Entities Only)

                     Crescent Real Estate Equities Company
                     I.R.S. # 52-1862813
-------------------- ------------------------------------------------------------------------- ------------------------
         2           Check the Appropriate Box if a Member of a Group              (a) [ ]
                     (See Instructions)                                            (b) [ ]

-------------------- ------------------------------------------------------------------------- ------------------------
         3           SEC Use Only

-------------------- ------------------------------------------------------------------------- ------------------------
         4           Citizenship or Place of Organization

                     Texas
-------------------- ----------------- --------------------------------------------------------------------------------
     Number of       5                 Sole Voting Power

                                       N/A
                     ----------------- --------------------------------------------------------------------------------
      Shares         6                 Shared Voting Power

                                       3,453,881
                     ----------------- --------------------------------------------------------------------------------
   Beneficially      7                 Sole Dispositive Power

                                       N/A
                     ----------------- --------------------------------------------------------------------------------
     Owned by        8                 Shared Dispositive Power

       Each                            3,453,881

     Reporting

    Person With
-------------------- ---------------------------------------------------------------------------- ---------------------
         9           Aggregate Amount Beneficially Owned by Each Reporting Person

                     3,453,881
-------------------- ---------------------------------------------------------------------------- ---------------------
        10           Check if the Aggregate Amount in Row (9) Excludes Certain Shares   [ ]
                     (See Instructions)

-------------------- ---------------------------------------------------------------------------- ---------------------
        11           Percent of Class Represented by Amount in Row (9)

                     7.5%
-------------------- ---------------------------------------------------------------------------- ---------------------
        12           Type of Reporting Person (See Instructions)

                     OO
-------------------- ---------------------------------------------------------------------------- ---------------------



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-------------------                                           -----------------
CUSIP NO. 75621K304                   13G                     PAGE 5 OF 8 PAGES
-------------------                                           -----------------



ITEM 1(a).        NAME OF ISSUER:

                  Reckson Associates Realty Corp.

ITEM 1(b).        ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:

                  225 Broadhollow Road
                  Melville, New York 11747

ITEM 2(a).        NAMES OF PERSONS FILING:

                  Crescent Real Estate Equities Limited Partnership, a Delaware
                  limited partnership ("Crescent OP")

                  Crescent Real Estate Equities, Ltd, a Delaware corporation
                  ("Crescent Ltd"), and the general partner of Crescent OP

                  Crescent Real Estate Equities Company, a Texas real estate
                  investment trust ("Crescent Equities"), and the sole owner of
                  Crescent Ltd

ITEM 2(b).        ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE:

                  For Crescent OP, Crescent Ltd and Crescent Equities:

                  777 Main Street, Suite 2100
                  Fort Worth, Texas 76102

ITEM 2(c).        CITIZENSHIP:

                  Crescent OP is a limited partnership organized under the laws
                  of the state of Delaware.

                  Crescent Ltd is a corporation organized under the laws of the
                  state of Delaware.

                  Crescent Equities is a real estate investment trust organized
                  under the laws of the state of Texas.

ITEM 2(d).        TITLE OF CLASS OF SECURITIES:

                  Class A Common Stock, par value $0.01 per share


ITEM 2(e).        CUSIP NUMBER:

                  75621K304

ITEM 3.           IF THIS STATEMENT IS FILED PURSUANT TO RULE 13D-1(b), OR
                  13D-2(b) OR (c), CHECK WHETHER THE PERSON FILING IS A:

                  Not applicable.

ITEM 4.           OWNERSHIP.

         Provide the following information regarding the aggregate number and
percentage of the class of securities of the issuer identified in Item 1.


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-------------------                                           -----------------
CUSIP NO. 75621K304                   13G                     PAGE 6 OF 8 PAGES
-------------------                                           -----------------


         The ownership percentage set forth below is based on 46,167,242
outstanding shares of Class A common stock, par value $0.01 per share, of the
issuer, as reported in the issuer's Form 10-Q for the three months ended March
31, 2001, filed on May 14, 2001.

         With respect to each of Crescent OP, Crescent Ltd and Crescent
Equities:

                  (a)      Amount beneficially owned: 3,453,881

                  (b)      Percent of class: 7.5%

                  (c)      Number of shares as to which each person has:

                           (i)      Sole power to vote or to direct the vote:
                                    N/A

                           (ii)     Shared power to vote or to direct the vote:
                                    3,453,881

                           (iii)    Sole power to dispose or to direct the
                                    disposition of: N/A

                           (iv)     Shared power to dispose or to direct the
                                    disposition of: 3,453,881

ITEM 5.           OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS.

                  Not applicable.

ITEM 6.           OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER
                  PERSON.

                  Not applicable.

ITEM 7.           IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH
                  ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING
                  COMPANY OR CONTROL PERSON.

                  Not applicable.

ITEM 8.           IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP.

                  Not applicable.

ITEM 9.           NOTICE OF DISSOLUTION OF GROUP.

                  Not applicable.

ITEM 10.          CERTIFICATIONS.

                  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 or 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.



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CUSIP NO. 75621K304                   13G                     PAGE 7 OF 8 PAGES
-------------------                                           -----------------

                                    SIGNATURE

         After reasonable inquiry and to the best of our knowledge and belief,
we certify that the information set forth in this statement is true, complete
and correct.

Dated:  June 22, 2001



CRESCENT REAL ESTATE EQUITIES LIMITED PARTNERSHIP

         By:  CRESCENT REAL ESTATE EQUITIES, LTD., its general partner

                  By: /s/ David M. Dean
                     ----------------------------------------
                  Title: Executive Vice President,
                         Law and Administration and Secretary



CRESCENT REAL ESTATE EQUITIES COMPANY

By: /s/ David M. Dean
   ----------------------------------------
Title: Executive Vice President,
       Law and Administration and Secretary






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CUSIP NO. 75621K304                   13G                     PAGE 8 OF 8 PAGES
-------------------                                           -----------------

                                INDEX TO EXHIBITS



      EXHIBIT
      NUMBER                         DESCRIPTION
      -------                        -----------

               
         1.       Joint Filing Agreement Pursuant to Rule 13d-1(k)(1)