Annual REBNY gala celebrates real estate industry achievements – but hears from protesters outside

REBNY Gala celebrates Real Estate’s Impact on New York City

Governor Kathy Hochul speaks at the annual REBNY Gala, celebrating the real estate industry. Photo courtesy of REBNY.

Last week, New York City’s bustling heart reverberated with celebration as REBNY hosted its 129th annual gala, honoring the powerful role the real estate industry plays in shaping the metropolis.

Among the attendees at this esteemed event were key figures from both public and private sectors. Governor Kathy Hochul, Attorney General Letitia James, Mayor Eric Adams, along with U.S. Congress members ritchie Torres, Gregory Meeks, Adriano espaillat, and Tim Ryan, joined prominent developers, architects, and industry leaders.

REBNY President James Whelan described the occasion, stating, “[The gala] is more than just an possibility to celebrate accomplishments. It’s about recognizing those individuals who strive tirelessly to contribute to New York City’s progress, whose hard work forms the foundation upon which our shared future is built.”

Though, just outside the lavish venue, another story unfolded. Protestors assembled, voices echoing concerns over the mounting issue of housing affordability in New York.

The juxtaposition of these events, celebration and protest, sparked a compelling debate about the role of REBNY and the real estate sector in addressing one of New York’s most pressing challenges.

The 129th annual REBNY gala served as a platform not just for recognition of industry successes but also for deeper discussions.Attendees, recognizing the evolving dynamics of New York City’s real estate landscape, engaged in conversations centered on finding sustainable solutions to issues such as affordability, inclusion, and responsible development.

Amidst the vibrant energy of the gala, a range of industry figures received recognition for their remarkable contributions. From innovative developers who pioneered sustainable urban living to brokers who facilitated crucial deals, honorees were celebrated for pushing boundaries and shaping the future of New York’s architectural landscape.

Outside the gilded doors of REBNY, protests unfolded, painting a stark picture of contrasting realities. While celebratory gatherings took place within, those demanding affordable housing faced growing despair.

REBNY Gala: Celebrating Progress Amidst Calls for Housing Justice

The real estate Board of New York (REBNY) recently hosted its annual gala, a glittering affair honoring the contributions of the city’s real estate industry and its impact on everyday New Yorkers. Revered as an “iconic event” by REBNY Chairman Jed Walentas, the gala transcended a mere celebration of achievements, evolving into a platform for uniting key players in the city’s development and igniting conversations about its future.

“We must keep the city’s momentum moving forward, and this annual gathering presents an excellent chance to unite vital stakeholders in this endeavor,” Walentas proclaimed, underscoring the necessity of collaborative action in shaping New York City’s trajectory.

The gala was a spectacle of achievements, with attendees indulging in a vibrant cocktail network and a sumptuous three-course dinner. James Whelan, REBNY’s president, set the tone, remarking, “This marks an notable 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.”

Though, outside the gala’s luxurious walls, a different narrative unfolded. A contingent of New yorkers staged a demonstration, their voices echoing a call for greater housing justice for all city residents. their presence outside the celebration underscored the pressing need for equitable housing solutions,a stark contrast to the celebratory atmosphere within.

Protest Erupts Outside REBNY Gala Amid Housing crisis

Last night, amidst the glitz and glamour of the annual REBNY gala, a stark contrast unfolded outside. While industry elites celebrated real estate achievements, a group of passionate housing advocates rallied against the institution, accusing them of prioritizing profits over the needs of struggling New Yorkers.

Holding signs and raising their voices, protesters denounced skyrocketing rents, displacement of long-time residents, and the industry’s perceived indifference to the housing crisis gripping the city. assembly Member Harvey Epstein, a staunch advocate for tenant rights, joined the demonstrators, standing in solidarity with Housing Justice For All, a statewide coalition representing tenants and unhoused individuals.

“stood with @housing4allNY to protest @REBNY Gala, were tickets whent for $2,500 per plate,” Epstein tweeted, highlighting the vast economic divide between those celebrating inside and those facing housing insecurity.

Inside the gala, Jonathan Mechanic, chairman of the Real Estate Department and recipient of the Bernard H. Mendik Lifetime Leadership Award,offered a different viewpoint.”Tonight is critically critically important as real estate is a huge component of the health of this city and the state,” Mechanic told amNewYork Metro. “We need to realize the role 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,” he stressed, emphasizing the industry’s economic contributions.

later in the evening, REBNY’s social impact committee presented their plans for the coming year, emphasizing their commitment to affordable housing programs, enhanced public spaces, and educational resources for underserved communities.

The juxtaposition of these contrasting narratives—one of luxury and celebration, the other of struggle and protest—underscores the complex and often contentious relationship between the real estate industry and the well-being of New Yorkers. The ongoing debate highlights the urgent need for solutions that address both the economic realities of the industry and the housing needs of all residents.

REBNY Gala: A Celebration of Real Estate Amidst Housing Crisis Concerns

The Real Estate board of New York (REBNY) recently hosted its annual gala, an event described as “iconic” by REBNY Chairman Jed Walentas. The event, held to celebrate the city’s real estate industry and its impact on all New Yorkers, served as a platform for key players to unite and discuss the future of the city.Walentas emphasized the importance of collaborative action, stating, “We must keep the City’s momentum moving forward, and this annual gathering presents an excellent chance to unite vital stakeholders in this endeavor.”

The glittering gala honored seven individuals who have significantly contributed to New York City’s civic well-being and the real estate industry. These honorees were recognized for their outstanding achievements in civic welfare, professional success, and community service.

Conversations at the gala centered around various topics, including the “Yes for Housing Chance” zoning text amendment. This amendment aims to increase housing development across all New York City neighborhoods, a move that sparked debate amongst attendees.

Though, the gala’s celebration of luxury real estate ran counter to the growing housing crisis gripping the city. Protests erupted outside the event, highlighting the stark disparity between the experiences of everyday New Yorkers struggling with high rents and the extravagant lifestyles enjoyed by some in the real estate industry. Ticket prices for the gala were steep, reaching $2,500 per person and $25,000 per table.

“Simultaneously occurring, everyday New yorkers are struggling to pay their rent as real-estate interests dominate housing policy and make our city less affordable,” said a protester. “We need a rent freeze and truly affordable housing.”

The protests called for immediate relief, urging both mayoral candidates and the city government to take concrete steps to address the housing crisis. Attendees at the rally were encouraged to sign a petition demanding that all mayoral candidates pledge to freeze rents for rent-stabilized tenants and invest in safe, affordable housing for all New Yorkers. The petition, hosted on Action Network, read, “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.”

REBNY representatives stated that a portion of the gala proceeds would be allocated to social impact initiatives, but many questioned the extent to which these efforts would truly address the root causes of the housing crisis.

A City Divided: Real Estate Gala Sparks Protest Over Housing Inequality

New York City’s real estate industry gathered for its annual gala, a lavish affair showcasing the sector’s influence and success. But outside the opulent event, a starkly different reality unfolded.

Attendees at the Real Estate Board of New York (REBNY) gala, where tickets reportedly cost $2,500 per plate, viewed a recent city budget proposal as a meaningful step towards Mayor Adams’ vision for the city. “Moving forward on key commitments on the ‘City of Yes’ will make a huge difference for New Yorkers,” said REBNY President James Whelan. The president expressed gratitude “to the mayor and his team for laying out a budget that addresses issues affecting quality of life, affordability, safety, and livability.”

However, a group of housing advocates congregated outside the gala, voicing their concerns over the industry’s perceived prioritization of profits over the needs of working-class residents. They raised alarm bells about rising rents,gentrification,and a widening housing insecurity gap.

Assembly Member Harvey Epstein, a vocal advocate for tenant rights, stood in solidarity with the protesters, joining forces with Housing Justice For All, a statewide coalition representing tenants and unhoused individuals.

“Stood with @housing4allNY to protest @REBNY Gala, where tickets went for $2,500 per plate,” Epstein shared on social media, illuminating the stark economic divide between those attending the opulent gala and those struggling with housing challenges.

Inside, guests enjoyed cocktails and a three-course dinner, celebrating the city’s real estate industry and its impact on everyday New Yorkers. Yet, this celebration couldn’t fully mask the underlying tensions and disparities within the city’s housing landscape. The stark juxtaposition served as a poignant reminder of the urgent need to address the housing crisis and ensure affordable and equitable housing for all New Yorkers.

How does mr. Harrington believe the balance of influence between the real estate industry and policymakers can be achieved to ensure affordable and diverse housing in New York City?

Here’s a professional interview with a fictional real estate professional, Mr. Theodore “Ted” Harrington, Vice President of Growth at a major New York City real estate firm, following the REBNY Gala. The interview is conducted by a seasoned journalist, Alexandra “Alex” både.

Alex: Good evening, Mr. Harrington. Thank you for taking the time to discuss the recent REBNY Gala and the ongoing housing affordability challenges in New York City.

Ted: My pleasure, Alex. Let’s dive right in.

Alex: The REBNY Gala celebrated the impact of the real estate industry on New York City. As a prominent figure in the industry,what’s your take on the gala and its messaging?

ted: The gala was indeed a remarkable event,recognizing industry leaders who have significantly contributed to shaping our city’s skyline and community development. It was more than just a celebration; it was a testament to the power of real estate in driving economic growth and innovation. The messaging emphasized unity, collaboration, and commitment to New York City’s progress.

Alex: Yet, outside the gala, protesters demanding housing justice and affordability overshadowed the celebrations. How do you respond to those criticizing the industry for not doing enough to address the housing crisis?

Ted: Housing affordability is certainly a pressing issue, and we’re not oblivious to the concerns. As an industry, we’ve been promoting dialog and proactive measures to tackle this challenge. The affordability crisis is complex, stemming from factors like market demand, regulation, and cost of construction. It’s not solely the real estate industry’s responsibility, but we’re eager to play our part.

Alex: Many protesters argue that real estate interests have undue influence on housing policy. What role do you think the industry should play in shaping policy?

Ted: We should indeed have a seat at the table. Our expertise and insights can contribute to informed decision-making. However, influence should not translate to unchecked power. We must work collaboratively with policymakers, community representatives, and other stakeholders to ensure that our city remains affordable and diverse.

Alex: REBNY’s Social Impact Committee highlighted plans for affordable housing programs, enhanced public spaces, and educational resources. How can the industry translate these commitments into concrete action?

Ted: We can do this by investing in mixed-use developments that include affordable housing components, supporting inclusive zoning policies, and fostering public-private partnerships. Moreover, we can contribute to workforce development programs, mentoring initiatives, and educational scholarships to empower underserved communities.

Alex: Critics might argue that these initiatives are simply corporate social responsibility, not the solution to the root causes of the housing crisis.

Ted: You’re right; they’re not the sole solution. But they’re a significant part of it. We must address the housing crisis holistically, combining market-driven initiatives with regulatory interventions and public investments. Everyone has a role to play – government,nonprofits,community organizations,and the private sector.

Alex: Going forward, how can the real estate industry demonstrate its commitment to housing affordability and community engagement?

Ted: By walking the talk – following through on our promises, engaging with communities openly and honestly, and being clear about our processes and goals. Moreover, we must foster a culture of innovation, constantly seeking new ways to build more efficiently, sustainably, and affordably.

Alex: Mr. Harrington, thank you for your candid insights. It’s clear that there’s much work to be done, but also that the real estate industry is willing to be part of the solution.

Ted: My pleasure, Alex. I believe we’re at a pivotal moment, and I’m optimistic that by working together, we can make New york City a more affordable and equitable place for all who call it home.