John Banks will retire from his role as president of the Real Estate Board of New York on July 1 after four years on the job. He contended that “the political environment changing played no role in his decision, and he will become a stay-at-home father… His predecessor, Steven Spinola, was in the job for almost 30 years.
- Be Smart: Real estate executives noted that the changing landscape intensified friction within the organization over which battles it should pick and how to fight them. Earlier this year, for example, some members thought the board had wasted political resources in its ultimately successful fight against a property tax increase on pieds-à-terre. Rent regulation law is clearly a stain on his legacy.