The Daily Dirt: REBNY’s Liar’s Ball Turns Back The Clock

The Real Estate Board of New York’s annual gala felt like 2016 again.

Industry leaders and politicos gathered at the Waldorf Astoria New York on Thursday for the trade group’s annual event, which this year harkened back to a bygone era of real estate hobnobbing.

Dubbed the Liar’s Ball, the 130th edition of the gala carried a nostalgic flair reminiscent of its pre-Covid iterations, resembling what one The Real Deal reporter described as an “expensive prom.” (Compass agent Jason Haber actually did have his high school prom in the same room, according to a post on his Instagram account.)

The palatial ballroom, chandelier-adorned rooms and a packed cocktail hour recalled a grander time, before the event took on a more casual air during its years at the Glasshouse.

Though the gala appeared more formal than in recent years, it wasn’t a total return to the decorum of circa 2016, when the dress code was black-tie. (This year, it was black-tie optional, though most guests wore cocktail attire.)

Also unlike 2016, the Mayor of New York City was not in attendance. That wasn’t a surprise, considering newly-inaugurated Zohran Mamdani spent last year’s gala protesting with tenant groups outside the venue.

However, in his stead, the mayor sent his housing czar, Leila Bozorg, and Department of Buildings Commissioner Ahmed Tigani, signaling his administration might be more open to working with the industry despite some controversial moves during Mamdani’s first week in office, including instituting “rental ripoff” hearings.

Courtesy of Johnny Wolf Studio and Jill Lotenberg for REBNYtook the stage following REBNY President Jim Whelan. Other political bigwigs in attendance included City Council Speaker Julie Menin, New York State Attorney General Letitia James and City Comptroller Mark Levine.

From the industry side, REBNY chairman and Two Trees Management principal Jed Walentas was at the event, along with the Soloviev Group’s Michael Hershman and eponymous brokerage founder Ryan Serhant.

While the event was certainly different from its last showing, one thing remained the same — by the time the clock hit double digits, gala goers had already cleared out.

What we’re thinking about: Earlier this week, President Donald Trump signed an executive order limiting institutional investors’ purchases of single-family homes. But in New York, investors are already spending less money, and those who are purchasing are paying more than the median home price. Will restrictions on investors make a dent in New York’s market? Send thoughts to sheridan.wall@therealdeal.com.

A thing we’ve learned: The biggest snowstorm in New York City history — or at least, the largest since the mid-1800s — was in January 2016, according to data from the National Weather Service. Roughly 28 inches of snow fell in Central Park over a three-day period, surpassing a snowstorm 10 years prior, which yielded just under 27 inches of snow.

Elsewhere…

— Gov. Kathy Hochul declared a state of emergency across all of New York state ahead of a snowstorm expected to sweep across the East Coast this weekend, according to CBS New York. The storm is projected to bring 6 to 12 inches of snow to New York City and its suburbs between Sunday and Monday.

— New York City nurses agreed to return to negotiations with area hospitals on Thursday, following appeals from Hochul and Mamdani, the New York Times reported. Roughly 15,000 health care workers, represented by nurses unions, have been on strike since Jan. 12, over concerns about safety, understaffing and compensation.

— Nine alleged gang leaders were indicted in Suffolk County, Long Island on Thursday, with the charges ranging from shootings to illegally owned weapons to sex trafficking, according to Newsday. Authorities claimed the leaders were part of the Lowndes Block gang, a subset of the Bloods, which controls a territory near Huntington Station.

Closing time

Residential: The top residential deal recorded Friday was $28 million for 20 East 76th Street, 12AC. The Lenox Hill condo is a new construction unit totaling 5,400 square feet. Douglas Elliman’s Michelle Griffith and Lauren Muss have the listing.

Commercial: The top commercial deal recorded was $42.8 million for 113 Spring Street. Morgan Stanley sold the 20,500-square-foot, mixed-use office building to Blackstone in an all-cash deal, per reports.

New to the Market

The highest price for a residential property hitting 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’s Matthew Gulker and Sabrina Saltiel have the listing.

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 applicant of record.

— Joseph Jungermann

Subscribe to the Daily Dirt Newsletter