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      <ClubDuesOrFees>X</ClubDuesOrFees>
      <WrittenPolicyReTAndEExpenses>true</WrittenPolicyReTAndEExpenses>
      <SubstantiationRequired>true</SubstantiationRequired>
      <WrittenEmploymentContract>X</WrittenEmploymentContract>
      <BoardOrCommitteeApproval>X</BoardOrCommitteeApproval>
      <SeverancePayment>false</SeverancePayment>
      <SupplementalNonqualRetirePlan>true</SupplementalNonqualRetirePlan>
      <EquityBasedCompArrangement>false</EquityBasedCompArrangement>
      <Form990ScheduleJPartII>
        <NamePerson>STEVEN SPINOLA</NamePerson>
        <Title>PRESIDENT</Title>
        <BaseCompensationFilingOrg>657651</BaseCompensationFilingOrg>
        <BonusFilingOrg>197485</BonusFilingOrg>
        <OtherCompensationFilingOrg>6741</OtherCompensationFilingOrg>
        <DeferredCompFilingOrg>12450</DeferredCompFilingOrg>
        <NontaxableBenefitsFilingOrg>50704</NontaxableBenefitsFilingOrg>
        <TotalCompensationFilingOrg>925031</TotalCompensationFilingOrg>
      </Form990ScheduleJPartII>
      <Form990ScheduleJPartII>
        <NamePerson>JAMES WHELAN</NamePerson>
        <Title>SENIOR VP</Title>
        <BaseCompensationFilingOrg>339338</BaseCompensationFilingOrg>
        <OtherCompensationFilingOrg>576</OtherCompensationFilingOrg>
        <DeferredCompFilingOrg>2500</DeferredCompFilingOrg>
        <NontaxableBenefitsFilingOrg>41213</NontaxableBenefitsFilingOrg>
        <TotalCompensationFilingOrg>383627</TotalCompensationFilingOrg>
      </Form990ScheduleJPartII>
      <Form990ScheduleJPartII>
        <NamePerson>WILLIAM AUERBACH</NamePerson>
        <Title>CFO</Title>
        <BaseCompensationFilingOrg>300617</BaseCompensationFilingOrg>
        <OtherCompensationFilingOrg>3707</OtherCompensationFilingOrg>
        <DeferredCompFilingOrg>2500</DeferredCompFilingOrg>
        <NontaxableBenefitsFilingOrg>22457</NontaxableBenefitsFilingOrg>
        <TotalCompensationFilingOrg>329281</TotalCompensationFilingOrg>
      </Form990ScheduleJPartII>
      <Form990ScheduleJPartII>
        <NamePerson>MICHAEL SLATTERY</NamePerson>
        <Title>SENIOR VP</Title>
        <BaseCompensationFilingOrg>210296</BaseCompensationFilingOrg>
        <OtherCompensationFilingOrg>1915</OtherCompensationFilingOrg>
        <DeferredCompFilingOrg>7168</DeferredCompFilingOrg>
        <NontaxableBenefitsFilingOrg>20480</NontaxableBenefitsFilingOrg>
        <TotalCompensationFilingOrg>239859</TotalCompensationFilingOrg>
      </Form990ScheduleJPartII>
      <Form990ScheduleJPartII>
        <NamePerson>JOHN DOYLE</NamePerson>
        <Title>SENIOR VP</Title>
        <BaseCompensationFilingOrg>183961</BaseCompensationFilingOrg>
        <OtherCompensationFilingOrg>1889</OtherCompensationFilingOrg>
        <DeferredCompFilingOrg>5651</DeferredCompFilingOrg>
        <NontaxableBenefitsFilingOrg>22618</NontaxableBenefitsFilingOrg>
        <TotalCompensationFilingOrg>214119</TotalCompensationFilingOrg>
      </Form990ScheduleJPartII>
      <Form990ScheduleJPartII>
        <NamePerson>ANGELA PINSKY</NamePerson>
        <Title>SENIOR VP</Title>
        <BaseCompensationFilingOrg>159002</BaseCompensationFilingOrg>
        <OtherCompensationFilingOrg>251</OtherCompensationFilingOrg>
        <DeferredCompFilingOrg>1590</DeferredCompFilingOrg>
        <NontaxableBenefitsFilingOrg>3476</NontaxableBenefitsFilingOrg>
        <TotalCompensationFilingOrg>164319</TotalCompensationFilingOrg>
      </Form990ScheduleJPartII>
      <Form990ScheduleJPartII>
        <NamePerson>EILEEN SPINOLA</NamePerson>
        <Title>SENIOR VP</Title>
        <BaseCompensationFilingOrg>132677</BaseCompensationFilingOrg>
        <OtherCompensationFilingOrg>808</OtherCompensationFilingOrg>
        <DeferredCompFilingOrg>1327</DeferredCompFilingOrg>
        <NontaxableBenefitsFilingOrg>20994</NontaxableBenefitsFilingOrg>
        <TotalCompensationFilingOrg>155806</TotalCompensationFilingOrg>
      </Form990ScheduleJPartII>
      <Form990ScheduleJPartII>
        <NamePerson>JAMES QUARTUCCIO</NamePerson>
        <Title>ASST CONTROLLER</Title>
        <BaseCompensationFilingOrg>181671</BaseCompensationFilingOrg>
        <OtherCompensationFilingOrg>1073</OtherCompensationFilingOrg>
        <DeferredCompFilingOrg>1856</DeferredCompFilingOrg>
        <NontaxableBenefitsFilingOrg>11660</NontaxableBenefitsFilingOrg>
        <TotalCompensationFilingOrg>196260</TotalCompensationFilingOrg>
      </Form990ScheduleJPartII>
      <Form990ScheduleJPartIII>
        <Identifier>SEVERANCE, NONQUALIFIED, AND EQUITY-BASED PAYMENTS</Identifier>
        <ReturnReference>SCHEDULE J, PAGE 1, PART I, LINE 4</ReturnReference>
        <Explanation>STEVEN SPINOLA 0 10,000 0 MICHAEL SLATTERY 0 5,000 0 JOHN DOYLE 0 3,750 0</Explanation>
      </Form990ScheduleJPartIII>
    </IRS990ScheduleJ>
    <IRS990ScheduleL documentId="RetDoc6">
      <Form990ScheduleLPartIV>
        <NameOfInterestedPerson>
          <NamePerson>LEONARD BOXER - PARTNER</NamePerson>
        </NameOfInterestedPerson>
        <SharingOfRevenues>false</SharingOfRevenues>
      </Form990ScheduleLPartIV>
      <Form990ScheduleLPartIV>
        <NameOfInterestedPerson>
          <NamePerson>STOOCK STROOCK LAVIN</NamePerson>
        </NameOfInterestedPerson>
        <Relationship>BRD OF GOVENORS</Relationship>
        <AmountOfTransaction>141687</AmountOfTransaction>
        <DescriptionOfTransaction>LEGAL COUNSEL</DescriptionOfTransaction>
        <SharingOfRevenues>false</SharingOfRevenues>
      </Form990ScheduleLPartIV>
      <Form990ScheduleLPartIV>
        <NameOfInterestedPerson>
          <NamePerson>DONALD ZUCKER</NamePerson>
        </NameOfInterestedPerson>
        <Relationship>BRD OF GOVENORS</Relationship>
        <AmountOfTransaction>45911</AmountOfTransaction>
        <DescriptionOfTransaction>GOLF FACILITIES</DescriptionOfTransaction>
        <SharingOfRevenues>false</SharingOfRevenues>
      </Form990ScheduleLPartIV>
      <Form990ScheduleLPartIV>
        <NameOfInterestedPerson>
          <NamePerson>SAMUEL IRLANDER</NamePerson>
        </NameOfInterestedPerson>
        <Relationship>BRD OF GOVENORS</Relationship>
        <AmountOfTransaction>19531</AmountOfTransaction>
        <DescriptionOfTransaction>COURSE INSTRUCTOR</DescriptionOfTransaction>
        <SharingOfRevenues>true</SharingOfRevenues>
      </Form990ScheduleLPartIV>
    </IRS990ScheduleL>
    <IRS990ScheduleO documentId="RetDoc7">
      <GeneralExplanation>
        <Identifier>ORGANIZATION'S MISSION</Identifier>
        <ReturnReference>FORM 990 - ORGANIZATION'S MISSION</ReturnReference>
        <Explanation>1. TO UNITE IN COMMON ORGANIZATION THOSE PROFESSIONALLY ENGAGED IN REAL ESTATE. 2. TO PROTECT AND PROMOTE THE MUTUAL INTERESTS OF ITS MEMBERS. 3. TO FORMULATE AND MAINTAIN ETHICAL STANDARDS FOR THE GUIDANCE OF ITS MEMBERS IN THEIR RELATIONS WITH EACH OTHER AND THE PUBLIC. 4. TO ADVOCATE NECESSARY PUBLIC IMPROVEMENTS AND OPPOSE UNNECESSARY OR WASTEFUL EXPENDITURES OF PUBLIC FUNDS. 5. TO PROMOTE AND ENCOURAGE THE ENACTMENT OF JUST AND REASONABLE LAWS AND ORDINANCES AFFECTING REAL ESTATE AND TO OPPOSE THOSE THAT WOULD BE UNJUST AND UNREASONABLE. 6. TO SUPPLY MEMBERS WITH INFORMATION THEY NEED TO MAKE SOUND BUSINESS DECISIONS. 7. TO HELP REAL ESTATE PROFESSIONALS MEET STATE GOVERMENT LICENSING STANDARDS.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>FIRST ACCOMPLISHMENT DESCRIPTION</Identifier>
        <ReturnReference>FORM 990, PAGE 2, PART III, LINE 4A</ReturnReference>
        <Explanation>CONSIDERED BY THE DEPARTMENT OF CITY PLANNING AND COMPREHENSIVE SUMMARY OF THE INDUSTRY'S MARKET CONDITIONS.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>RELATED PARTY INFORMATION AMONG OFFICERS</Identifier>
        <ReturnReference>FORM 990, PAGE 6, PART VI, LINE 2</ReturnReference>
        <Explanation>STEVEN SPINOLA EILEEN SPINOLA PRESIDENT SENIOR VP FAMILY RELATIONSHIP</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>ELECTION OF MEMBERS AND THEIR RIGHTS</Identifier>
        <ReturnReference>FORM 990, PAGE 6, PART VI, LINE 7A</ReturnReference>
        <Explanation>NY</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>DECISIONS SUBJECT TO APPROVAL OF MEMBERS</Identifier>
        <ReturnReference>FORM 990, PAGE 6, PART VI, LINE 7B</ReturnReference>
        <Explanation>THE FOLLOWING MEMBER CLASSIFICATIONS HAVE VOTING RIGHTS OF DECISIONS OF THE GOVERNING BODY TO APPROVAL, BROKER A, MANAGEMENT A, OWNER A, BROKER B, MANAGEMENT B, OWNER AAA, OWNER B, INSTITUTIONAL OWNER, APPRAISER A.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>ORGANIZATION'S PROCESS USED TO REVIEW FORM 990</Identifier>
        <ReturnReference>FORM 990, PAGE 6, PART VI, LINE 11B</ReturnReference>
        <Explanation>THE FEDERAL FORM 990 IS REVIEWED AND APPROVED BY THE PRESIDENT AND CHIEF FINANCIAL OFFICER PRIOR TO FILING.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>GOVERNING DOCUMENTS DISCLOSURE EXPLANATION</Identifier>
        <ReturnReference>FORM 990, PAGE 6, PART VI, LINE 19</ReturnReference>
        <Explanation>GOVERNING DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC THROUGH THE PUBLISHED ANNUAL DIARY AND THE ORGANIZATION'S WEBSITE IN THE MEMBERS SECTION.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>RECONCILIATION OF CHANGES - OTHER</Identifier>
        <ReturnReference>FORM 990, PART XI, LINE 9</ReturnReference>
        <Explanation>EQUTIY IN SUBSIDIARY -62,160 EDUCATION COSTS -261,659 LEASE FORMS COSTS -4,903 BANQUET PRINTING -58,662 DIARY COSTS -242,761 ANNUAL BANQUET COSTS -445,945 GOLF &amp; TENNIS COSTS -98,445 MEMBERSHIP MEETINGS COSTS -241,785 ARBITRATION COSTS -6,108 MEMBERSHIP SERVICES COSTS -4,730 MINIMUM PENSION ADJUSTMENT -750,932 EDUCATION EXPENSES 261,659 DIARY COSTS 242,761 BANQUET PRINTING 58,662 LEASE FORM COSTS 4,903 ANNUAL BANQUET EXPENSE 445,945 GOLF &amp; TENNIS EXPENSE 98,445 MEMBERSHIP MEETING EXPENSE 241,785 ARBITRATION COSTS 6,108 MEMBERSHIP SERVICES COSTS 4,730</Explanation>
      </GeneralExplanation>
    </IRS990ScheduleO>
    <IRS990ScheduleR documentId="RetDoc8">
      <Form990ScheduleRPartII>
        <NameOfDisregardedEntity>
          <BusinessNameLine1>THE REBNY FOUNDATION INC</BusinessNameLine1>
        </NameOfDisregardedEntity>
        <AddressUS>
          <AddressLine1>570 LEXINGTON AVENUE</AddressLine1>
          <City>NEW YORK</City>
          <State>NY</State>
          <ZIPCode>10022</ZIPCode>
        </AddressUS>
        <EIN>133317104</EIN>
        <PrimaryActivities>GRANTS</PrimaryActivities>
        <LegalDomicileState>NY</LegalDomicileState>
        <ExemptCodeSection>501C3</ExemptCodeSection>
        <PublicCharityStatus>PF</PublicCharityStatus>
        <DirectControllingEntityNA>N/A</DirectControllingEntityNA>
        <ControlledOrg>false</ControlledOrg>
      </Form990ScheduleRPartII>
      <Form990ScheduleRPartII>
        <NameOfDisregardedEntity>
          <BusinessNameLine1>TAXPAYERS FOR AN AFFORDABLE NY INC</BusinessNameLine1>
        </NameOfDisregardedEntity>
        <AddressUS>
          <AddressLine1>570 LEXINGTON AVENUE</AddressLine1>
          <City>NEW YORK</City>
          <State>NY</State>
          <ZIPCode>10022</ZIPCode>
        </AddressUS>
        <EIN>133606190</EIN>
        <PrimaryActivities>SOCIAL WEL</PrimaryActivities>
        <LegalDomicileState>NY</LegalDomicileState>
        <ExemptCodeSection>501C4</ExemptCodeSection>
        <DirectControllingEntityNA>N/A</DirectControllingEntityNA>
        <ControlledOrg>false</ControlledOrg>
      </Form990ScheduleRPartII>
      <Form990ScheduleRPartII>
        <NameOfDisregardedEntity>
          <BusinessNameLine1>PUTTING NEW YORKERS TO WORK INC</BusinessNameLine1>
        </NameOfDisregardedEntity>
        <AddressUS>
          <AddressLine1>570 LEXINGTON AVENUE</AddressLine1>
          <City>NEW YORK</City>
          <State>NY</State>
          <ZIPCode>10022</ZIPCode>
        </AddressUS>
        <EIN>273710229</EIN>
        <PrimaryActivities>SOCIAL WEL</PrimaryActivities>
        <LegalDomicileState>NY</LegalDomicileState>
        <ExemptCodeSection>501C4</ExemptCodeSection>
        <DirectControllingEntityNA>N/A</DirectControllingEntityNA>
        <ControlledOrg>false</ControlledOrg>
      </Form990ScheduleRPartII>
      <Form990ScheduleRPartII>
        <NameOfDisregardedEntity>
          <BusinessNameLine1>REAL ESTATE BOARD POLITICAL ACTION</BusinessNameLine1>
          <BusinessNameLine2>COMMITTEE</BusinessNameLine2>
        </NameOfDisregardedEntity>
        <AddressUS>
          <AddressLine1>570 LEXINGTON AVENUE</AddressLine1>
          <City>NEW YORK</City>
          <State>NY</State>
          <ZIPCode>10022</ZIPCode>
        </AddressUS>
        <EIN>133098933</EIN>
        <PrimaryActivities>PAC</PrimaryActivities>
        <LegalDomicileState>NY</LegalDomicileState>
        <ExemptCodeSection>527</ExemptCodeSection>
        <DirectControllingEntityNA>N/A</DirectControllingEntityNA>
        <ControlledOrg>false</ControlledOrg>
      </Form990ScheduleRPartII>
      <Form990ScheduleRPartII>
        <NameOfDisregardedEntity>
          <BusinessNameLine1>TAXPAYERS FOR AN AFFORDABLE NY PAC</BusinessNameLine1>
        </NameOfDisregardedEntity>
        <AddressUS>
          <AddressLine1>570 LEXINGTON AVENUE</AddressLine1>
          <City>NEW YORK</City>
          <State>NY</State>
          <ZIPCode>10022</ZIPCode>
        </AddressUS>
        <EIN>134040882</EIN>
        <PrimaryActivities>PAC</PrimaryActivities>
        <LegalDomicileState>NY</LegalDomicileState>
        <ExemptCodeSection>527</ExemptCodeSection>
        <DirectControllingEntityNA>N/A</DirectControllingEntityNA>
        <ControlledOrg>false</ControlledOrg>
      </Form990ScheduleRPartII>
      <Form990ScheduleRPartII>
        <NameOfDisregardedEntity>
          <BusinessNameLine1>COMMITTEE TO SAVE NEW YORK</BusinessNameLine1>
          <BusinessNameLine2>C/O CONNOR DAVIS LLP</BusinessNameLine2>
        </NameOfDisregardedEntity>
        <AddressUS>
          <AddressLine1>60 EAST 42ND STREET</AddressLine1>
          <City>NEW YORK</City>
          <State>NY</State>
          <ZIPCode>10165</ZIPCode>
        </AddressUS>
        <EIN>274004281</EIN>
        <PrimaryActivities>EDUCATE</PrimaryActivities>
        <LegalDomicileState>NY</LegalDomicileState>
        <ExemptCodeSection>501C4</ExemptCodeSection>
        <DirectControllingEntityNA>N/A</DirectControllingEntityNA>
        <ControlledOrg>false</ControlledOrg>
      </Form990ScheduleRPartII>
      <Form990ScheduleRPartIV>
        <NameOfRelatedOrg>
          <BusinessNameLine1>RESIDENTIALNYC INC</BusinessNameLine1>
        </NameOfRelatedOrg>
        <AddressUS>
          <AddressLine1>570 LEXINGTON AVENUE</AddressLine1>
          <City>NEW YORK</City>
          <State>NY</State>
          <ZIPCode>10022</ZIPCode>
        </AddressUS>
        <EIN>260290087</EIN>
        <PrimaryActivity>R/E LSTNG</PrimaryActivity>
        <LegalDomicileState>NY</LegalDomicileState>
        <DirectControllingEntityName>
          <BusinessNameLine1>REBNY</BusinessNameLine1>
        </DirectControllingEntityName>
        <TypeOfEntity>C CORP</TypeOfEntity>
        <ShareOfTotalIncome>-62160</ShareOfTotalIncome>
        <ShareOfEOYAssets>11741</ShareOfEOYAssets>
        <PercentageOwnership>1.00000</PercentageOwnership>
        <ControlledOrg>false</ControlledOrg>
      </Form990ScheduleRPartIV>
      <ReceiptOfIntAnnRentsRoyalties>false</ReceiptOfIntAnnRentsRoyalties>
      <GiftGrantOrCapContrToOtherOrg>false</GiftGrantOrCapContrToOtherOrg>
      <GiftGrantOrCapContrFrOtherOrg>false</GiftGrantOrCapContrFrOtherOrg>
      <LoansOrGuaranteesToOtherOrg>true</LoansOrGuaranteesToOtherOrg>
      <LoansOrGuaranteesFromOtherOrg>false</LoansOrGuaranteesFromOtherOrg>
      <DividendsRelatedOrganization>false</DividendsRelatedOrganization>
      <SaleOfAssetsToOtherOrg>false</SaleOfAssetsToOtherOrg>
      <PurchaseOfAssetsFromOtherOrg>false</PurchaseOfAssetsFromOtherOrg>
      <ExchangeOfAssets>false</ExchangeOfAssets>
      <RentalOfFacilitiesToOtherOrgs>false</RentalOfFacilitiesToOtherOrgs>
      <RentalOfFacilitiesFrOtherOrgs>false</RentalOfFacilitiesFrOtherOrgs>
      <PerformOfServicesForOtherOrgs>false</PerformOfServicesForOtherOrgs>
      <PerformOfServicesByOtherOrgs>false</PerformOfServicesByOtherOrgs>
      <SharingOfFacilities>true</SharingOfFacilities>
      <SharingOfPaidEmployees>true</SharingOfPaidEmployees>
      <ReimbursementPaidToOtherOrg>false</ReimbursementPaidToOtherOrg>
      <ReimbursementPaidByOtherOrg>false</ReimbursementPaidByOtherOrg>
      <OtherTransferToOtherOrg>false</OtherTransferToOtherOrg>
      <OtherTransferFromOtherOrg>false</OtherTransferFromOtherOrg>
      <TransactionsRelatedOrgsTable>
        <NameOfOtherOrganization>
          <BusinessNameLine1>RESIDENTIALNYC INC</BusinessNameLine1>
        </NameOfOtherOrganization>
        <TransactionType>D</TransactionType>
        <AmountInvolved>45922</AmountInvolved>
        <MethodOfAmtDetermination>INVOICES</MethodOfAmtDetermination>
      </TransactionsRelatedOrgsTable>
      <TransactionsRelatedOrgsTable>
        <NameOfOtherOrganization>
          <BusinessNameLine1>REAL ESTATE BOARD POLITICAL ACTION</BusinessNameLine1>
          <BusinessNameLine2>COMMITTEE</BusinessNameLine2>
        </NameOfOtherOrganization>
        <TransactionType>O</TransactionType>
        <AmountInvolved>59311</AmountInvolved>
        <MethodOfAmtDetermination>INVOICES</MethodOfAmtDetermination>
      </TransactionsRelatedOrgsTable>
      <TransactionsRelatedOrgsTable>
        <NameOfOtherOrganization>
          <BusinessNameLine1>TAXPAYERS FOR AN AFFORDABLE NY PAC</BusinessNameLine1>
        </NameOfOtherOrganization>
        <TransactionType>O</TransactionType>
        <AmountInvolved>72681</AmountInvolved>
        <MethodOfAmtDetermination>INVOICES</MethodOfAmtDetermination>
      </TransactionsRelatedOrgsTable>
    </IRS990ScheduleR>
  </ReturnData>
</Return>