Faye D. Cobb has been elected president of the Montgomery County Board of Realtors. A former teacher, she heads her own firm in Bethesda. Other new board officers are Jesse W. Clary, John O'Keefe, Margaret Elliott and Robert Snider.

The American Psychiatric Association will break ground at noon today for a new headquarters at 1400 K St. NW. The 170,000-square-foot, 12-story building will be built by JBG Associates and A. James Clark on the former site of the Ambassador Hotel.

Energy conservation and old buildings will be the focus of the Maryland Historical Trust's annual meeting next Saturday in Baltimore. Syndicated columnist Neal Peirce will be the keynote speaker. A tour of preservation projects in Baltimore will be held Nov. 2. For information, call 301-269-2212.

A 60,000-square-foot warehouse building formerly occupied by the MAACO paint company at First Street and New York Avenue NE has been sold to Edward Welster for $420,000. The Braedon Companies represented the seller, 1300 First Street Associates. Washburn Realty represented the purchaser.

Robert S. Banner, Paul H. Norwood and Bradley Rozansky have formed a new brokerage firm, BNR Realty Inc., at 4829 Fairmont Ave., Bethesda.

Ridge Development Corp., developer of the Lake Ridge community in Prince William County, is seeking county and federal approval to develop subsidy-assisted housing for the elderly near the Lake Ridge Shopping Center.

The Washington Board of Realtors has scheduled a seminar on office leasing legalities for Nov. 5 at the National Housing Center. Seven attorneys will participate in a panel discussion of relationships between attorneys and brokers.

Top honors in a competition sponsored by Prince George's County Beautification Committee was awarded to the Springhill Lake rental apartment complex for the use of shrubs, trees, flowers and care of the recreational area at the site, which is near the Beltway and Kenilworth Avenue.

Economist Milton Friedman will be the opening speaker at a convention of the Mortgage Bankers Association Monday in San Francisco.

NAMED: Sonnie Shade is the new relocation director of Colquitt-Carruthers Inc., while Judith A. Salas has been named sales associate recruiter for the firm in Maryland and the District. . . . George W. Reeder is H. A. Gill & Son's new senior property manager. . . . Joan Robbins has been appointed manager of the Potomac office of Lewis & Silverman's resale division. . . . Colin F. McGowan has been named manager of the Parole, Md., office of Gary Hart & Associates.