By: Pierre Le Bubu

As the NY Post reported, Mayor Zohran Mamdani skipped the Real Estate Board of New York’s 130th annual gala Thursday at the Waldorf-Astoria, leaving Gov. Kathy Hochul to take center stage before more than 1,100 industry leaders. The event, held for the first time in the newly restored Grand Ballroom, showcased the Big Apple’s resurgent real estate market while highlighting political divides between city leadership and developers.

Hochul energized the crowd with her rallying cry: “Build, baby build,” earning robust applause from brokers, developers, and investors. According to NY Post reporting, her speech emphasized the sector’s pivotal role in generating municipal revenue and sustaining New York’s economic recovery.

The gala came on the heels of a strong 2025 for the city’s real estate market. NY Post reported investment sales topped $11 billion, up 26% from 2024, while 33 million square feet of office space were leased, reducing vacancies to 14%. The city also set a record with 313 leases signed above $100 per square foot, reflecting robust demand in both commercial and residential sectors.

REBNY President James Whelan and Chairman Jed Walentas presided over the event, welcoming industry leaders with a mix of networking and celebration. NY Post noted that the crowd included top developers such as Douglas Durst, David W. Levinson, George and Marian Klein, Dan Brodsky, Joseph Moinian, Bill Rudin, Hal Fetner, Marty Burger, Mary Ann Gilmartin, Jonathan Resnick, and the Elghanayan family.

The evening’s honorees, including Jeffrey Gural, Winston Fisher, and Fried Frank partners Anita Laremont and David Karnovsky, were interviewed onstage under bright lights by journalist Lois Weiss. As NY Post reported, the interviews highlighted both individual achievements and broader industry trends, while guests enjoyed the Waldorf’s newly restored grandeur and improved acoustics—a notable upgrade from the Glasshouse venue on 12th Avenue where prior events often suffered from poor sound.

Guests feasted on a winterized Waldorf salad and braised beef short ribs prepared by Michael Anthony of Lex Yard and Gramercy Tavern. The dinner and red-carpet ambiance, NY Post reported, reflected an Oscars-style celebration, with attendees dressed elegantly and mingling among chandeliers and historic architectural details.

City Hall representation was modest but visible. Deputy Mayor for Housing and Planning Leila Bozorg attended, alongside Attorney General Tish James, MTA Chair Janno Lieber, Council Speaker Julie Menin, and former city planning director Daniel Garodnick. NY Post noted that while Mayor Mamdani’s absence was felt, officials stressed that the event would continue to foster collaboration between the real estate sector and city leadership.

According to NY Post reporting, the REBNY bash balanced celebration with a focus on practical issues facing the city. Whelan acknowledged Mamdani’s absence diplomatically, saying, “We look forward to hosting Mayor Mamdani at future events. We resume our focus on working with city officials and other stakeholders on practical, data-driven steps to address issues such as the city’s housing crisis and continued economic growth.”

Attendees echoed the sentiment that the night was as much about networking and reaffirming industry success as it was about political signaling. NY Post reported that the industry’s top players, from landlords and brokers to lawyers, were keen to highlight their deals and discuss market trends while enjoying the Waldorf’s restored historic splendor.

Despite the political snub, the REBNY gala underscored the resilience and influence of New York’s real estate sector. As NY Post noted, the combination of economic growth, strategic networking, and celebratory pageantry made the 130th annual event a symbolic statement: the city’s property market remains a cornerstone of New York’s economy, even amid political transitions and leadership disagreements.