The Real Estate Board of New York’s annual gala felt like 2016 again.
Industry leaders and politicians gathered Thursday at the Waldorf Astoria New York for the trade group’s annual event, which this year harkened back to a bygone era of real estate chatter.
The 130th edition of the gala, also known as Liar’s Ball, had a nostalgic flair that was reminiscent of the pre-Covid versions and similar to what had once been done. The real deal reporter described as an ‘expensive ball’. (Compass Officer Jason Haber did indeed have his high school prom in the same room, according to a post on his Instagram account.)
The palatial ballroom, chandelier-adorned rooms and packed cocktail hour were reminiscent of a grander time, before the event took on a more informal atmosphere during its years at the Glasshouse.
While the gala seemed more formal than in years past, it wasn’t a total return to the decorum of circa 2016, when the dress code was black-tie. (This year it was optional to wear a black tie, although most guests wore cocktail attire.)
Also unlike in 2016, the mayor of New York City was not present. That was no surprise, as the newly inaugurated Zohran Mamdani protested with tenant groups outside the venue during last year’s gala.
In his place, however, the mayor sent his housing czar, Leila Bozorg, and Ahmed Tigani, commissioner of the Ministry of Buildings, signaling that his government might be more open to working with the industry, despite some controversial moves during Mamdani’s first week in office, including instituting hearings on rent ripoffs.
Thanks to Johnny Wolf Studio and Jill Lotenberg for REBNY took the stage after REBNY President Jim Whelan. Other political leaders in attendance included City Council Speaker Julie Menin, New York State Attorney General Letitia James and City Comptroller Mark Levine.
From the industry, Jed Walentas, chairman of REBNY and director of Two Trees Management, attended the event, along with Michael Hershman of the Soloviev Group and eponymous brokerage founder Ryan Serhant.
While the event was certainly different from the previous screening, one thing remained the same: by the time the clock struck double digits, the gala attendees had already left.
What we’re thinking about: Earlier this week, President Donald Trump signed an executive order restricting the purchase of single-family homes by institutional investors. But in New York, investors are already spending less money, even though those who buy are paying more than the average home price. Will the restrictions on investors make a dent in the New York market? Send your thoughts to sheridan.wall@therealdeal.com.
Something we learned: The largest snowstorm in New York City history — or at least the largest since the mid-1800s — occurred in January 2016, according to data from the National Weather Service. Central Park received about 28 inches of snow over a three-day period, surpassing the snowstorm a decade earlier that produced just under 27 inches of snow.
Elsewhere…
— Governor Kathy Hochul has declared a state of emergency across New York state ahead of a snowstorm expected to hit the East Coast this weekend. CBS New York. The storm is expected to bring 6 to 12 inches of snow to New York City and the suburbs between Sunday and Monday.
– New York City nurses agreed Thursday to return to negotiations with area hospitals, after calls from Hochul and Mamdani, the New York Times reported. About 15,000 healthcare workers, represented by nurses’ unions, have been on strike since January 12 over concerns about safety, understaffing and compensation.
– Nine alleged gang leaders were indicted Thursday in Long Island’s Suffolk County, with charges ranging from shootings to illegal possession of guns and sex trafficking, according to reports Newsday. Authorities alleged the leaders were part of the Lowndes Block gang, a subgroup of the Bloods, which controls an area near Huntington Station.
Closing time
Residential: The highest residential deal recorded on Friday was $28 million for 20 East 76th Street, 12AC. The Lenox Hill apartment is a new construction unit totaling 5,400 square feet. Douglas Elliman Michelle Griffith and Lauren Muss have the entry.
Commercial: The best recorded commercial deal was $42.8 million for Lentestraat 113. Morgan Stanley sold the 20,500 square meter mixed-use office building to Blackstone in an all-cash deal, per reports.
New on the market
The highest price for a home to hit the market was $9.5 million for 150 Central Park South, Unit 2504. The Central Park South co-op is 2,700 square feet. Douglas Elliman Matthew Gulker and Sabrina Saltiel have the entry.
Breaking ground
The largest new building permit filed was for a proposed 81,567-square-foot, 15-story, mixed-use building at 246 7th Street in Red Hook. Thomas Scibilia of NA Design Studio is the registered applicant.
— Joseph Jungerman
Read more
At the REBNY gala, Mamdani skips, while Hochul promises to continue as an ally of the industry
Adams stopped by the REBNY gala on his way to the Trump rally at Mar-a-Lago
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