Springsteen earned the honor for his Broadway residency, which Joel noted has brought hundreds of thousands of theatergoers to the Big Apple for his 200-plus shows.
"This is deeply appreciated," Springsteen said as he took the stage wearing a traditional black tuxedo. "Thanks for making me feel so welcome on your block. Being a part of the Broadway community has been a great thrill and an honor for me. It has been one of the most exciting things that I have ever experienced."