New York’s real estate industry entered 2026 with renewed confidence and positive momentum. This optimism was reflected during the return to the restored Waldorf Astoria for the sector’s biggest annual event. At the same time, industry leaders shared growing confidence in the city’s recovering office market.
The Real Estate Board of New York hosted its 130th annual gala on Thursday evening. While challenges such as housing affordability were openly discussed, many attendees linked the hotel’s reopening to New York’s broader post-pandemic recovery. In particular, increased office demand was cited as a key indicator of progress.
According to industry executives, returning to the Waldorf symbolized a sense of normalcy. Moreover, the black-tie-optional event welcomed more than 1,100 attendees from government, business, and real estate. The evening also honored eight industry leaders, including Jeff Gural of GFP Real Estate.
However, newly elected Mayor Zohran Mamdani did not attend the event. In contrast, state and city officials were present, including Governor Kathy Hochul. During his campaign, Mamdani proposed expanded rent stabilization and increased use of city-owned land for housing. These positions have raised concerns among property owners and developers.
Despite the absence, REBNY President James Whelan downplayed any tension with the new administration. Instead, he emphasized housing as the industry’s top shared priority. While some collaboration has begun, disagreement remains over proposals to freeze rent on one million stabilized apartments for four years.
About CORFAC International – New York
CORFAC International – New York, an extension of CORFAC International delivers over 90 years of Expertise for Commercial Real Estate in the Greater NY Metro Area. Comprised of a partnership of WCRE & Chilmark Real Estate Services, CORFAC International – New York provides practical guidance, analyzes crucial transaction details for optimal workspaces and deals, by leveraging market knowledge to drive client success. As committed advocates, we deliver measurable results, serving global clients with expert advisory and property management. We match your dedication with proven expertise.
