Steven Spinola will step down as REBNY President at the end of 2015 after almost 30 years at the top of the powerful trade association.
After an article in the Financial Times broke the news this morning – apparently without Spinola’s knowledge or blessing – he confirmed the decision in a statement to REBNY’s board of governors this afternoon.
Spinola, who became REBNY’s head in 1986, has not only been running what is arguably New York’s most powerful trade association, but also became an influential and oft-quoted mouthpiece for the industry. News of his impending departure is bound to rattle the real estate industry and fuel speculation over his succession.
Spinola writes a weekly column in Real Estate Weekly.
Below is his statement in full length:
“I write to you with respect to a premature story that appeared today in The Financial Times regarding my continued role as President of The Real Estate Board of New York.
As you know, I recently signed an extension of my contract with The Real Estate Board of New York that gives me the honor and privilege to continue as REBNY’s President through the end of 2015. I had decided at that time that this would be my final contract with this extraordinary organization, although I have agreed to continue to serve in an advisory and consulting role for a number of years to follow.
I look forward to the next 18 months and beyond of serving the most important industry in New York. At the end of 2015, I will celebrate nearly 30 phenomenal years at REBNY. I have had the great honor of working alongside many giants of the real estate industry – owners, brokers, developers, architects, managers, attorneys, and a dedicated, talented and underappreciated staff.
Since I arrived in 1986, not only has REBNY tripled its membership, but it has worked hard to address issues and identify solutions to improve New York. Be it the terror attacks of 9/11, serious economic downturns, Hurricane Sandy or the recent 116th Street building explosion, time and again REBNY, along with its members has played an important role in helping our great City and State.
The remaining year and one-half will be no different. REBNY will continue to work to create more housing, good jobs and opportunities for all New Yorkers. I look forward to the continued partnership with Rob Speyer, our extraordinary Chairman and thank him and all my past Chairs for their trust and confidence. Thank you.”