Pols to line the red carpet at NY Real Estate Board’s 129th gala

The Real Estate Board of New York (REBNY) celebrates the city’s civic leaders tomorrow evening during its 129th annual gala at the Glasshouse in Midtown West.

Guests will include REBNY members and the evening’s seven honorees along with likely familiar faces (the governor, the mayor, deputies, commissioners and staffers, City Council members, members of the US Congress, as well as state senators and representatives often attend) creating photo-op gridlock as the real estate press buzzes along a red carpet with cameras and questions. 

Founded in 1896, the city’s oldest and most influential trade association represents a who’s who of landowners, building investors and owners, real estate executives and service professionals who strive to provide housing for residents of all incomes and nationalities, along with spaces for retailers, hotels and companies of all shapes and sizes.

REBNY members also serve those from all over the world seeking to live, invest or park their dollars in the safest spot on the globe.

Its 14,000 members are intimately involved in crucial city matters including the formulation of tax policy, city planning and zoning, land use policy, landmarking, the preservation of affordable housing, regulations governing the condition of rentals and conversions, building codes and other legislation that make our city socially and equitably responsible, safer and greener.

Along with some of the world’s largest property owners, REBNY members include small residential apartment owners, residential and commercial brokers and managers, construction, financial, insurance and title companies, lawyers, accountants, architects, bankers, lenders, utilities and even media companies like The New York Post.

The organization also publishes numerous reports that provide market education and indicators of pricing for the residential, retail and commercial sectors as well as policy analysis and back-to-work statistics.

Members provide guidance and well-crafted advice on proposals and policies that affect all state and city residents and continue educational conversations with stakeholders and legislators toward incentivizing growth and development while ensuring taxes and fees run the city safely and efficiently.

Despite ongoing efforts to create a “City of Yes,” challenges continue due to a lack of housing at all price points, ongoing retail theft, turnstile jumping and headline-grabbing crimes above and below ground.

“Our members have worked hard to bring New York City back economically from the COVID-19 pandemic and 2025 represents an opportunity to accelerate that recovery,” said REBNY Chairman Jed Walentas. “This will require continued investment in our office sector, a reversal on policies that are further damaging our rental housing market and the repositioning of our central business districts for greater resiliency and vibrancy.”

At the gala, a new educational video will explain how the real estate industry contributes to the city’s job creation — from development and building management to brokerage and construction.

Based on the Department of Finance tax collections for 2024, real estate-related taxes accounted for $37.2 billion, a new record. These taxes make up 48.6% of the city’s local revenues.

The budget, city services and crime continue to be impacted by those seeking sanctuary at a time when the city’s older office and apartment properties reel from higher interest rates and vacancies that have caused many valuations to be slashed by more than half and could affect ongoing tax collections.

Walentas will preside over the night’s celebration while attendees gather on the Glasshouse’s outdoor terraces to enjoy the sweeping views of the city and Hudson River.

“Our annual event brings together leaders in real estate, government and important civic institutions to recognize our shared accomplishments and galvanize efforts for taking on New York City’s biggest challenges in the year ahead,” Walentas said.

The raucous event is sold out with 1,000 attendees who pay $2,500 each to mingle more than they sit for canapés and cocktails during the enormous networking reception and dinner. 

The dinner’s culinary experiences are being prepared by chefs including Dan Guzman of Bar Boulud, Ci Siamo’s Hillary Sterling, Le Pavillon’s Michael Balboni and pastry chef Yohko Ogata, Christopher Colon of Hill Country, JJ Johnson of Fieldtrip along with kosher selections from Le Marais and sweet treats provided by Li-Lac Chocolates.

Assigned tables are also on tap for the evening’s main events when the dais guests are introduced and REBNY will honor individuals who have demonstrated continued commitment to both the city and the industry.

Over the years, those presiding over the dais have resorted to cymbals, megaphones and other devices to quiet the crowd during the award ceremony while former REBNY President Steve Spinola was teased for his 30 years of “shussshing.”

This night won’t be any different.

For the win: Here’s what REBNY’s 2025 honorees have to say

The Harry B. Helmsley Distinguished New Yorker Award for exceptional accomplishments in the profession and invaluable contributions to New York’s civic welfare

“The success of our industry and our companies is fully integrated and aligned with the success of our community, which we are actively trying to improve.”

The Young Real Estate Professional of the Year Award chosen by YM/WREA for incredible professional achievements as a rising star of the industry and for civic leadership

“Both REBNY and YM/WREA create a place for  individuals with common goals. We build  networks, learn from each other, develop new skills, link up with senior executives and find mentors.”

The Bernard H. Mendik Lifetime Leadership in Real Estate Award for exceptional service to the industry and remarkable professional accomplishments over the course of his career

“REBNY is the epicenter of  real estate in New York. It is where you cross paths with every player in the industry.”

The Kenneth R. Gerrety Humanitarian Award for outstanding service to the community

At REBNY, you can engage with new projects, stay updated on industry developments and actively participate  in policy discussions.”

The John E. Zuccotti Public Service Award for exceptional accomplishments and service to the public’s interest

“I’ve seen firsthand  how critical REBNY’s thoughtful guidance is in addressing key  challenges like affordable housing, economic development and infrastructure investment.”

The George M. Brooker Management Executive of the Year Award recognizing exceptional career accomplishments, as well as service to the profession and community

“Partnering with REBNY allows property managers to collaborate with the city to implement guidelines and establish best practices in the industry while advocating on our behalf.”

The Louis Smadbeck Memorial Broker Award recognizing a broker with personal and professional integrity, long-term leadership and prominence in the brokerage community and participation in REBNY’s committees

“Don’t just join REBNY and YM/WREA and pay dues. Get involved, because you will benefit from networking, meeting  people, growing your  career and doing deals.”