J. Clydesdale Cushman
From the May issue: With the backdrop of the Great Depression weighing heavily on landlords and operators, the Building Managers and Owners Association of New York merged with the larger Real Estate Board of New York, 81 years ago this month.
The 17-year-old property owners’ association — headed by Cushman & Wakefield cofounder J. Clydesdale Cushman — became the management division of REBNY, the leading real estate trade group in the city, with about 3,177 members.
The move was made in part to provide a stronger lobbying voice for members, the groups said.
The merged entity would provide “a mouthpiece of greatly amplified power to speak for real estate in any public movement affecting its interests,” said a statement quoted in the New York Times. It did not allude to any financial hardships brought on by the weak economy.
Within a year of the merger, the membership for the management division of REBNY grew from 300 to 487 with the members of the division operating or owning $3 billion worth of office, apartment and loft space in New York City. [more]
