NEW YORK CITY—It has been said that when times are good, while it’s easy to simply bask in the glow, it’s the ideal moment to focus on fixing what’s in a state of disrepair. That maxim could be applied to New York City, RXR Realty chairman and CEO Scott Rechler said Tuesday in Midtown during a talk to the Association for a Better New York.

The city is currently riding a great wave but needs a number of improvements, he asserted. But Rechler’s speech included a caveat—the issues plaguing New York City need to be fixed not with old methods but with innovative plans.

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