The Real Estate Board of New York held its 129th yearly gala last week, celebrating the industry’s contributions to New York City’s vitality.
Notable figures among the attendees included Gov. Kathy Hochul, Attorney General Letitia James, Mayor Eric Adams, and U.S. Congress Members Ritchie Torres, Gregory Meeks, Adriano Espaillat, and Tim Kennedy.
“This marks a significant occasion as New York City’s private and public sector leaders gathered to celebrate our shared accomplishments and address the challenges facing our region’s economy and quality of life in 2025,” said James Whelan, president of REBNY.
Inside, partygoers celebrated progress in New York, but outside, a crowd of upset New Yorkers protested the Jan. 16 event in search of housing justice.
Jed Walentas, chairman of REBNY, called the ‘iconic event’ an ode to the industry and every New Yorker who played a part in ensuring the city continues to be 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,” Walentas said.
This year, REBNY honored seven distinguished individuals for their exceptional contributions to New York City’s civic welfare and the real estate industry. The winners were honored for their civic welfare, professional achievements, and community service.
Many attendees discussed the City of Yes for Housing Opportunity, the zoning text amendment aiming to build more housing in every neighborhood, with amNewYork Metro. They said it’s a step in the right direction and further 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.”
The evening culminated in a presentation by the REBNY’s social impact committee, which outlined its plans for the upcoming year, which include affordable housing programs, enhancing public spaces, and funding educational resources for youth in marginalized neighborhoods.
Jonathan Mechanic, chairman of Real Estate Department who was honored with the Bernard H. Mendik Lifetime Leadership in Real Estate Award, said looking forward, he hopes New York can recognize the significant contributions and importance of the industry.
“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,” he told amNewYork Metro. “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.”
While city officials and event attendees were inside partying, a group of housing advocates were gathering outside. Protesters called out REBNY members for alleged rent increases, gentrification, and selfish gain at the cost of working-class New Yorkers.
Assembly Member Harvey Epstein joined members of Housing Justice For All, a group of advocates representing tenants and unhoused New Yorkers statewide, at the rally.
“Stood with @housing4allNY to protest @REBNY Gala, where tickets went for $2,500 per plate. Meanwhile, everyday [New Yorkers] are struggling to pay their rent as real-estate interests dominate housing policy and make our city less affordable. We need a rent freeze and truly affordable housing,” he said via Instagram.
Ralliers encouraged the crowd to freeze rent payments and sign a petition asking political candidates for mayor candidacy to support the freeze.
“We are calling on every Mayoral Candidate to commit to freezing rents for rent stabilized tenants and investing in safe, affordable housing for all if they want our votes. We work hard to keep New York running – and we deserve to stay,” the petition said.
Tickets were listed online as $2500 per person and $25,000 per table.
According to REBNY representatives, portion of the proceeds from the event were allocated to funding social impact initiatives.
