Tonight members of the Real Estate Board of New York (REBNY) will gather with the city’s civic leaders to celebrate the organization’s 130th year with a gala at the newly renovated Waldorf Astoria hotel in Midtown.
“REBNY’s founders first met at the Waldorf Astoria so it is very special to host our 130th anniversary here,” said Sandhya Espitia of REBNY, which was founded in 1896. “It’s so iconic and has evolved — just like REBNY continues to evolve.”
The 1,200 guests will include REBNY members and the evening’s eight honorees along with the governor, the mayor — will our new one show up? — deputies, commissioners, City Council members, US congressional and state senators and representatives. Other appointed and elected officials, civic groups and union leaders and their many staffers also attend — creating photo-op gridlock on the red carpet as the real estate press buzzes with cameras and questions.
As the city’s oldest and most influential trade association, REBNY represents a who’s who of landowners, building investors and owners, real estate executives and professionals who strive to provide housing for residents of all incomes and nationalities, along with space for retailers, hotels, industries and companies of all shapes and sizes.
REBNY members also service those from all over the world seeking to live, invest or park their dollars in the safest spot on the globe.
Along with some of the world’s largest property owners, its 14,000 members include small residential apartment owners, residential and commercial brokers and property managers, construction, financial, insurance and title companies, lawyers, accountants, architects, bankers, lenders, utilities and even media companies like The New York Post.
Members are intimately involved in crucial city matters including the formulation of tax policy, city planning and zoning, land use policy, landmarking, the construction and preservation of affordable housing, regulations governing the condition of rentals and conversions, building codes and other legislation that make the city socially and equitably responsible, safer and greener.
The organization also publishes reports that provide market context and are indicators of pricing in the residential, retail and commercial sectors as well as policy analysis.
Through its committees, members provide guidance and well-crafted advice on proposals and policies that affect all state and city residents and have ongoing educational conversations with stakeholders and legislators focused on incentivizing growth and development while ensuring the taxes and fees collected are fair but enable the mayor and his administrators to 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, unlicensed sidewalk peddling, fare evasion and headline-grabbing crimes both above and below ground.
Proposals by the new mayoral administration are also creating stress about the future of the Big Apple — particularly with regard to quality of life, private property rights and the level of taxation needed to support those that cannot support themselves.
To provide context and solutions toward solving the city’s housing crisis, REBNY will screen a new educational video at the event.
“We are 100% working on more housing, the importance of more housing and creating affordability through good industry policies.”
Sandhya Espitia, Chief Operating Officer of REBNY
“We are 100% working on more housing, the importance of more housing and creating affordability through good industry policies,” said Espitia.
Real estate-related taxes are the city’s largest source of revenue and at $37 billion, accounted for 49% in 2024 and is on trend to reach 50% for 2025 and more in 2026.
But older office and apartment properties are being impacted by both vacancies and high interest rates that have caused lenders to slash valuations by more than half, affecting ongoing tax collections.
Just as tax levies keep rising, the tickets to tonight’s event also went up and, despite costing a hefty $3,000 each, tickets are sold out.
Jed Walentas of Two Trees Management, REBNY’s chairman, will preside over the raucous evening along with President Jim Whelan as guests traditionally mingle more than they sit during the two networking receptions and dinner.
Michael Anthony, Executive Chef of the Waldorf Astoria New York, is also curating a unique culinary program for REBNY. “He is a big supporter of the real estate industry and is so wonderful to work with,” said Espitia.
Assigned tables are also on tap for the evening’s main events that include the introduction of the dais guests, the singing of the “Star Spangled Banner” and the honoring of 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. Decades ago, one insulted governor stormed off the stage as no one paid him any attention. That’s one reason honorees are now introduced with closed-captioned video and acceptance speeches are brief. “It’s a very special evening to celebrate the contributions of our industry to NYC,” Espitia said.
Leader Board: REBNY’s honorees weigh in on NYC, real estate, civics and professionalism
The Harry B. Helmsley Distinguished New Yorker Award For a lifetime of professional excellence and contributions to New York’s civic welfare (shared)
“The vitality and viability of the city does rest in large part on a robust real estate industry.”
“We always work closely with REBNY on issues of import.”
George M. Brooker Management Executive of the Year Award For career excellence and service to the profession and broader community
“REBNY is a resource for information and for people who can help me solve problems with their experience.”
Kenneth R. Gerrety Humanitarian Award For outstanding service to the community
“Learn every skill you can. You won’t be good at prompt engineering unless you understand the fundamentals of real estate.”
Young Real Estate Professional of the Year Award Presented by the Young Men’s/Women’s Real Estate Association For outstanding professional achievements and civic leadership as a rising star in the industry
“Volunteering enables you to keep your pulse on the market and see how our hard work makes this city better.”
Bernard H. Mendik Lifetime Leadership in Real Estate Award For exceptional accomplishments and invaluable contributions to New York and its real estate industry
“Your reputation is very important, and my goal is to leave my children and grandchildren with a good reputation.”
Louis Smadbeck Memorial Broker Recognition Award For integrity, leadership, and long-standing contributions to the brokerage community and REBNY
“When … you see the skyline of New York, the energy is palpable. You don’t find that anyplace else except in New York.”
John E. Zuccotti Public Service Award For exceptional accomplishments and service in the public interest
“Figure out what you love to do because if you are doing something you don’t feel connected to, you will never master it.”
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