Annual REBNY Gala Celebrates Real Estate Industry Achievements – But Heards from Protesters Outside
A Night of Celebration and Controversy
The Real Estate Board of New York (REBNY) held its 129th annual gala last week, celebrating the industry’s contributions to New York City’s vitality. The event drew notable figures, including Governor Kathy Hochul, Attorney General Letitia James, Mayor Eric Adams, and U.S. Congress Members Ritchie Torres, Gregory Meeks, Adriano Espaillat, and Tim Kennedy.
Inside the Gala
Inside the event, partygoers celebrated progress in New York City, with REBNY President James Whelan stating, "This marks a significant occasion as New York City’s private and public sector leaders gather to celebrate our shared accomplishments and address the challenges facing our region’s economy and quality of life in 2025." Honorees included seven individuals recognized for their exceptional contributions to New York City’s civic welfare and the real estate industry.
Awards and Tributes
Jed Walentas, chairman of REBNY, described the event as an "iconic celebration" of the industry and every New Yorker who played a part in making the city an ideal place to live, work, and grow a business. "We must keep the city’s momentum moving forward, and this annual gathering presents an excellent opportunity to unite important stakeholders in this endeavor," he said.
City of Yes for Housing Opportunity
Many attendees discussed the City of Yes for Housing Opportunity, a zoning text amendment aiming to build more housing in every neighborhood. They saw it as a step in the right direction and supported Mayor Adams. "Moving forward on key commitments on the ‘City of Yes’ will make a huge difference for New Yorkers," Whelan said. "REBNY thanks the mayor and his team for laying out a budget that addresses issues affecting quality of life, affordability, safety, and livability."
REBNY’s Social Impact Committee
The evening concluded with a presentation by REBNY’s social impact committee, outlining its plans for the upcoming year, including affordable housing programs, enhancing public spaces, and funding educational resources for youth in marginalized neighborhoods.
Keynote Speech
Jonathan Mechanic, chairman of the Real Estate Department, who was honored with the Bernard H. Mendik Lifetime Leadership in Real Estate Award, emphasized the importance of recognizing the real estate industry’s role in the city’s economy. "Tonight is important because real estate is a huge component of the health of this city and the health of the state. We need to realize the role that it plays. It supports much of the income that supports this city. We need to do what we can to support real estate as opposed to vilifying them."
Protest Outside
While city officials and event attendees were inside celebrating, a group of housing advocates gathered outside, protesting the event. They called out REBNY members for alleged rent increases, gentrification, and selfish gain at the expense of working-class New Yorkers. Assembly Member Harvey Epstein joined members of Housing Justice For All, a group representing tenants and unhoused New Yorkers statewide, at the rally. "We need a rent freeze and truly affordable housing," he said.
Conclusion
The annual REBNY gala celebrates the real estate industry’s achievements, but the controversy surrounding the event highlights the divide between those who benefit from the industry’s growth and those who are left behind. As the city continues to evolve, it is crucial to strike a balance between progress and affordability, ensuring that every New Yorker has access to safe and affordable housing.
FAQs
- What is the purpose of the REBNY gala?
The annual gala celebrates the real estate industry’s contributions to New York City’s vitality. - Who attended the event?
Notable figures included Governor Kathy Hochul, Attorney General Letitia James, Mayor Eric Adams, and U.S. Congress Members Ritchie Torres, Gregory Meeks, Adriano Espaillat, and Tim Kennedy. - What was the main topic of discussion during the event?
The City of Yes for Housing Opportunity, a zoning text amendment, was a major topic of discussion, with many attendees seeing it as a step in the right direction. - What was the controversy surrounding the event?
A group of housing advocates protested outside the event, calling out REBNY members for alleged rent increases, gentrification, and selfish gain at the expense of working-class New Yorkers.
