The Real Estate Board of New York (REBNY) is celebrating 127 years as an organization — longer than the pact that brought together the five boroughs. For the second time since the pandemic, its annual banquet will also be in person.

As the city’s oldest and most influential trade association, REBNY represents a who’s who of city landowners, building investors and owners, real estate executives and service professionals who work 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.

Led by President James Whelan, its 15,000 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 as well as other structures, 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 larger property owners, REBNY members include the smaller minority apartment building owners, residential and commercial brokers and managers, financial companies, title companies, lawyers, accountants, architects, bankers, utilities and even media companies like the New York Post.

The organization also publishes several reports providing indicators of market pricing in the residential, retail and commercial sectors — real estate provides the city with $35 billion in taxes which pays for 53.4% of the city’s budget. It also supports over 107,100 construction and real estate jobs.

Smart politicians listen because the organization provides thoughtful and well-crafted advice on policies that affect all of the state’s and city’s residents.

REBNY expects to continue talking with and educating those who are against growth and development while high taxes, environmental regulations and a lack of housing at all price points continue to be of great concern.

“In recognizing their exemplary leadership, we hope to inspire other New Yorkers to leave their own indelible mark on their industry and community.”

Douglas Durst, REBNY’s chairman

Meanwhile, a new educational video will highlight REBNY members’ investments in sustainability.
The issue is at the forefront because its recent study found that even a substantial investment in energy efficiency will not be enough for many buildings to comply with new local laws. By next year, over 3,700 properties could face $200 million per year in penalties and 60% of those are projected to be residential.

“We will take on the challenges and work with elected offices to get to a place of policy making,” Whelan said.

REBNY’s Chairman Douglas Durst will preside over tonight’s celebration at the Glasshouse on the West Side which has sweeping views of the city and Hudson River. Its two large outdoor terraces were a big hit last year as folks gathered to enjoy the warm evening and setting sun where no smoking is allowed despite this year coinciding with 4/20 day.

The raucous event will have over 1,000 attendees who pay $2,000 each to mingle more than they sit.
The evening starts with canapés and cocktails at a networking reception. Harkening back to pre-pandemic days, both the dais and assigned seating have returned for the awards ceremony and dinner.

Culinary experiences are being prepared by nearly a dozen chefs including Michael Anthony of Gramercy Tavern and chef Daniel Boulud. This year, members who can afford $500 can join the dinner guests at the after party starting around 8 p.m. with desserts, open bars plus tunes from DJ Monopoli, who usually spins for the Knicks and Rangers.

As always, REBNY will honor individuals who have demonstrated continued commitment to both the city and the industry.

“Our 2023 honorees have helped make New York City a bastion of economic opportunity and innovation and are united in their commitment to service and our civic life,” said Durst. “In recognizing their exemplary leadership, we hope to inspire other New Yorkers to leave their own indelible mark on their industry and community.”

Guests include REBNY’s board of governors and the evening’s honorees along with, very often, the governor, the mayor, deputies, commissioners and staffers, the City Council speaker, Council members, state senators and assembly representatives, US congressional representatives and senators, as well as other appointed and elected officials who can create photo op gridlock as the real estate press buzzes with cameras and questions.

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 shushing.

This night won’t be any different.

Here’s what REBNY’s award winners have to say:

“If government does the job and sets conditions for the city to grow in a thoughtful and considerate way, then the real estate industry will invest.”

“I don’t understand why anyone would not join REBNY and take advantage of the education, leadership and net-working.”

“After joining REBNY and the Plaza Committee as a 21-year- old broker I got to know members … that’s one way that I immediately benefited.”

“REBNY provides tremendous leadership, ensuring that its membership remains current on all industry issues.”

“Don’t sign up for an organization just to put it on your resume. Really become a part of it.”

“You have an obligation as a member of our industry to think more broadly than about just your own business.”

“REBNY is the organizational link between the real estate industry, government and the community. It’s an advocate and educator.”