T
he Real Estate Board of New York (REBNY) is set to celebrate the city's civic leaders at its 129th annual gala at the Glasshouse in Midtown West. The event, which has been sold out with 1,000 attendees paying $2,500 each, will feature seven honorees and a who's who of landowners, building investors, and real estate executives.

    As the city's oldest and most influential trade association, REBNY represents 14,000 members involved in crucial city matters such as tax policy, city planning, zoning, and affordable housing. The organization also publishes reports on market education, pricing indicators, and policy analysis.

    Despite ongoing efforts to create a "City of Yes," challenges persist due to a lack of housing at all price points, retail theft, and crime. REBNY Chairman Jed Walentas emphasized the need for continued investment in the office sector, reversing policies damaging the rental housing market, and repositioning central business districts for greater resiliency.

    The gala will feature a new educational video on how the real estate industry contributes to job creation, from development and building management to brokerage and construction. Real estate-related taxes accounted for $37.2 billion in 2024, a record high making up 48.6% of the city's local revenues.

    Walentas will preside over the night's celebration, which includes culinary experiences prepared by top chefs and kosher selections from Le Marais. The event is expected to be lively, with past ceremonies requiring cymbals and megaphones to quiet the crowd.

    The seven honorees include Scott Rechler, CEO of RXR; Craig Waggner, Managing Director at Cushman & Wakefield; Jonathan Mechanic, Chairman of Fried Frank's Real Estate Department; Michelle Adams, Senior Managing Director at Tishman Speyer; Representative Ritchie Torres, US Congressman for New York's 15th Congressional District; Thomas Lloyd, Senior Managing Director at CBRE; and Nicola Heryet, Principal at Avison Young.

    These individuals have demonstrated continued commitment to the city and industry through their exceptional accomplishments and service. As Walentas noted, "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."