Deconstruct

After two and a half years of reporting, The Real Deal's investigation into the Alexander brothers has reached a major milestone: Tal, Oren and Alon Alexander have each been sentenced to 30 years in federal prison.

But the story isn't over. Senior reporter and South Florida bureau chief Katherine Kallergis, who broke the original story, joins Deconstruct to take listeners inside the sentencing hearing, discuss the victims' emotional statements and examine the unanswered questions surrounding the brothers' connections to some of luxury real estate's most powerful figures. Who else knew what was happening? And could more people face...

With the 2026 midterm elections approaching, real estate has a lot on the line. But which races will actually make a difference for developers, landlords and investors?

The Real Deal's national managing editor Jerry Sullivan joins Hannah Kramer and Lilah Burke to break down the elections worth watching, from the mayoral showdown between Karen Bass and Nithya Raman in Los Angeles to key races in Texas and a consequential property tax proposal in Florida. They discuss the growing political backlash against data centers, the evolution of the YIMBY movement and why the real estate industry has struggled to...

New York City's retail market is making a comeback, but not everyone is benefiting. As restaurants, Pilates studios, coffee shops and wellness businesses expand across Manhattan, traditional retailers and mom-and-pop stores are facing an increasingly difficult environment.

This week on Deconstruct, hosts Hannah Kramer and Lilah Burke sit down with Michael Miller, a retail broker at TSCG, to discuss the changing landscape of New York retail. They explore which neighborhoods are commanding top rents, why Times Square continues to struggle, how consumer habits are reshaping retail demand and what happens to all those empty banks and pharmacies.<...

Wynwood was once best known for warehouses, murals and street art. Today, it’s attracting billions of dollars from some of the wealthiest investors in Miami.

The Real Deal’s Iman Elshahawi joins Hannah Kramer and Lilah Burke to unpack the neighborhood’s rapid evolution following Ken Griffin’s $1.1 billion purchase of part of the Mana Wynwood portfolio. They discuss the arrival of major office, residential and retail projects; investments tied to Amazon, Adam Neumann and other tech billionaires; and the zoning changes that helped turn Wynwood into one of Miami’s hottest development markets.

They also...

Could Sunnyside Yard finally become one of New York City’s next great mega-developments?

This week on Deconstruct, The Real Deal’s Lilah Burke and guest co-host Jake Indursky speak with New York Building Congress President and CEO Carlo Scissura about the decades-old dream of building a new neighborhood over the Sunnyside rail yard in Queens.

The proposal could create roughly 12,000 homes, but first New York would need to construct a platform over the active rail yard at a cost measured in the tens of billions of dollars. Scissura explains why the engineering may actually be t...

The multifamily syndicator boom promised everyday investors a piece of the real estate gold rush. Then interest rates rose — and some of the biggest players began to unravel.

This week on Deconstruct, The Real Deal’s Texas Bureau Chief Jess Hardin joins Hannah Kramer and Lilah Burke to explain the rise and fall of S2 Capital and its founder, Scott Everett. Once one of the fastest-growing private companies in the country, S2 amassed a massive apartment portfolio as Everett became one of the most recognizable figures of the real estate syndication boom.

Now, investors have seen...

This week on Deconstruct, The Real Deal columnist Erik Engquist joins Hannah Kramer and Lilah Burke to explain why renovating New York City’s aging apartment buildings has become increasingly difficult.

Engquist breaks down the complicated web of rules surrounding substantial rehabilitation, rent stabilization, good cause eviction and demolition — and why he argues that current housing policy can leave owners with little incentive to undertake major renovations. What happens when aging buildings need substantial investment, but the economics of fixing them no longer pencil out?

Plus, Hannah and Lilah dig into one of Miami’s bigges...

New York’s luxury rental market is reaching astonishing new heights. SERHANT broker Peter Zaitzeff joins Deconstruct to explain who is paying as much as $150,000 a month for homes in Brooklyn and Manhattan, why tech and finance wealth is fueling demand, and how the city’s severe inventory shortage could push rents even higher.

Zaitzeff also argues that the luxury market does not exist in isolation: Record-breaking deals at the top can influence asking rents across the city, making an already expensive housing market even less affordable.

Later in the episode, hosts Hannah Kramer and Lila...

Data centers have quickly become one of commercial real estate’s hottest — and most capital-intensive — asset classes. This week, Hannah Kramer and Lilah Burke talk with Colliers data center expert Raul Saavedra about what’s driving the boom, how AI has accelerated demand and why the scale of new projects is creating major challenges around power, financing and community opposition.

Saavedra takes us inside the increasingly complicated process of getting a data center deal done, as campuses grow from tens of megawatts to hundreds and project costs climb from millions into the billions.

Then, Hannah and Lila...

A massive fraud case at one of Florida’s largest homeowners associations exposed just how vulnerable HOAs can be to bad actors.

On this episode of Deconstruct, The Real Deal’s Hannah Kramer and Lilah Burke talk with South Florida reporter Lidia Dinkova about the scandal at the Hammocks, a sprawling Miami-Dade community with more than 18,000 residents. Prosecutors accused former board members of diverting roughly $2 million through bogus vendors and kickbacks, while residents say they spent years trying to sound the alarm. The case ultimately helped spur sweeping changes to Florida’s HOA laws — but experts and resident...

Consumers need to trust their real estate agents — but as more agents work the market than ever before, stories of bad behavior ranging from unfair dealmaking to sexual harrasment abound. In this episode of Deconstruct, Compass agent and American Real Estate Association (ARA) founder Jason Haber joins Lilah Burke and Hannah Kramer of The Real Deal to break down what’s broken in residential brokerage and how to fix it.

We get into:

A summer camp empire that owns roughly 30 camps across the U.S. raised nearly $200 million from Israeli bondholders—and then spiraled into bankruptcy just months later. Reporter Keith Larsen joins Deconstruct to unpack one of the strangest real estate-adjacent stories of the year, including a controversial $34 million transfer, aggressive lenders, and what happens next for camp operators, investors and families.

Plus, Hannah Kramer and Lilah Burke discuss how wellness culture is transforming real estate, from Hamptons luxury homes packed with saunas and cold plunges to the rapid expansion of luxury gyms and wellness-focused retail.

They al...

Artificial intelligence is already reshaping real estate — from buyers using ChatGPT to challenge brokers, to AI startups transforming the office market.

On this episode of Deconstruct, Hannah Kramer and Lilah Burke break down The Real Deal's latest reporting on AI's impact on residential and commercial real estate. They discuss how buyers and sellers are using AI during negotiations, why office landlords are chasing AI tenants, and whether artificial intelligence could fundamentally alter demand for office space.

Plus: Hannah argues that the era of Billionaires' Row may be coming to an end as developers behind projects li...

On this week's episode of Deconstruct, Hannah Kramer and Lilah Burke break down one of the strangest real estate stories of the year: Floyd Mayweather's lawsuit against former advisor Jona Rechnitz, alleging the theft of $175 million in cash, jewelry and real estate investments.

The hosts trace Mayweather's rapid expansion into New York real estate, including deals involving multifamily properties, the Versace Mansion and major investment partnerships, and discuss the unanswered questions surrounding those transactions.

They also examine Mayor Zohran Mamdani's ambitious housing plan and what it could mean for landlords, developers and rent-stabilized buildings across...

On this episode of Deconstruct, hosts Lilah Burke and Hannah Kramer break down how New York City’s latest budget, tax proposals, and one high-profile Upper East Side building are reshaping the city’s real estate market — from rent-stabilized apartments to ultra-luxury rentals.

First, they unpack Mayor Zoran Mamdani’s executive budget, including:

On this week’s episode of Deconstruct, hosts Hannah Kramer and Lilah Burke dive into the increasingly political world of New York City real estate.

They break down the latest developments surrounding New York’s proposed Pied-à-Terre tax, including new details about how the state may determine which luxury second homes are taxed — and why the logistics could still derail the plan.

The episode also explores rising tensions between the real estate industry and the administration of Mayor Zohran Mamdani. At The Real Deal’s NYC Real Estate Forum, protesters interrupted a panel featuring Related C...

On this episode of Deconstruct, hosts Lilah Burke and Hannah Kramer unpack the growing challenges for the Chetrit Group, longtime players in New York City real estate now dealing with lawsuits, alleged mismanagement, and mounting lender pressure. The episode takes listeners inside a tense courtroom auction tied to a $132 million judgment, offering a rare glimpse into how distress is playing out in real time.

The show also covers major headlines shaping the market: Gary Barnett’s acquisition of the historic Friars Club and what it signals for his Midtown assemblage strategy; uncertainty around a $2 billion Hudson Yards pl...

This week on Deconstruct, hosts Lilah Burke and Hannah Kramer break down Governor Kathy Hochul’s controversial pied-à-terre tax proposal on luxury second homes, what it could mean for the NYC housing market, and why brokers and developers are worried.

They also unpack the guilty verdict against former Vornado executive Jared Solomon in a years-long fraud scheme involving fake brokerages and stolen company funds. Plus: Is Manhattan’s Third Avenue office market making a comeback?

Then TRD reporter Liz Cryan joins the show for an exclusive look at New York City’s booming private club sc...

This week on Deconstruct, top luxury broker Frances Katzen joins the podcast to discuss the New York City luxury real estate market as spring selling season begins. She shares insight on inventory shortages, buyer behavior, new developments, international demand, and what both buyers and sellers should expect in the months ahead.

The episode also covers major real estate headlines, including guilty pleas in the Omnibuild fraud case, Cushman & Wakefield’s lawsuit against Sotheby’s over a $10 million commission dispute, distressed office deals in New York and San Francisco, and Zara founder Amancio Ortega’s growing global real estate...

Deconstruct breaks down the latest news on the Flatiron Building, a record lease at 9 West 57th, and a foreclosure at a car-branded condo in Miami. Plus, politics reporter Kathryn Brenzel joins the podcast to cover how new NYC Mayor Zohran Mamdani has fared in his first 100 days in office.

In this week’s episode of Deconstruct, a podcast from The Real Deal, hosts Lilah Burke and Hannah Kramer examine how record Wall Street bonuses could influence New York City’s luxury real estate market, preview the upcoming trial of a former Vornado executive accused of fraud, discusss foreclosure risks at Kaufman Astoria Studios, and why Palantir’s Miami headquarters announcement may not be what it seems. Then Senior Reporter Rich Bockmann joins the podcast to explain how infamous developer Josh Schuster rose to prominence, fell from grace, and how the would-be investors he left behind are struggling to claw b...

Compass and Zillow have been battling it out over real estate listings. The outcome could reshape how homes are marketed across the U.S.

In this episode of Deconstruct, hosts Lilah Burke and Hannah Kramer talk to reporter Sheridan Wall to break down Compass’ lawsuit, which accused Zillow of anticompetitive behavior after the portal introduced a ban on privately marketed listings. At the heart of the dispute: who controls access to listings, and how much power platforms like Zillow should have over the residential market.

The conversation unpack what Zillow’s policy actually does, why Comp...

In the latest episode of Deconstruct, a podcast by The Real Deal, hosts Lilah Burke and Hannah Kramer talk about proposals for increased property taxes, rent control, and a rezoning that could open a floodgate for New York City development. In an interview with TRD Policy Pro reporter Caroline Spivack, they dive into a debate over Section 8 vouchers, which some landlords say are unconstitutional.

In the latest episode of Deconstruct, hosts Lilah Burke and Hannah Kramer explain the battle to demolish a landmark church on the Upper West Side, close the loop on the verdict in the sex trafficking case against the Alexander brothers, and explain why development in Gowanus has boomed. Then, the hosts interview multifamily broker Lev Mavashev to find out who's buying New York City's devalued rent-stabilized building – and who isn't.

Oren and Tal Alexander were once among the highest echelon of luxury real estate brokers, rubbing elbows with celebrities and billionaires. For the last month we've seen them in the courthouse as they, along with Oren's twin brother Alon, stood trial on federal sex trafficking charges. TRD senior editor Ellen Cranley, who was on the team that broke the earliest allegations against the brothers in June of 2024, explained to Deconstruct's Lilah Burke and Hannah Kramer what the reporters have seen in the courtroom, breaking down the strategy for both the defense and prosecution and explaining what it all means...

In this episode of Deconstruct, hosts Hannah Kramer and Lilah Burke discuss the ongoing trial of the Alexander brothers, who face serious allegations of sexual assault and sex trafficking. They also cover the fraud case against Nir Meir, the implications of high-end rental prices in New York City, and a deep dive into a complex mortgage fraud scheme affecting the market. The episode concludes with a look at ICE's controversial plans to convert industrial sites into detention centers and upcoming events in the real estate community.

Deconstruct is the only podcast that brings you all the news you need to know about real estate. Now back for a fifth season, hosts Lilah Burke and Hannah Kramer will ake you inside The Real Deal's newsroom to cover the biggest issues in New York City and real estate today. In the first episode, the hosts talk with reporter Jake Indursky, who sifted through the Epstein files to find out just how badly top real estate brokers wanted to get inside his Upper East Side townhouse. Then, an update on new mayor Zohran Mamdani's plan to freeze the...

President-elect Donald Trump's campaign promises look to be a mixed bag for commercial real estate. Extended tax cuts would be a boon for dealmaking; tariffs could spark inflation and push the Federal Reserve to throw the cutting cycle in reverse.

Deconstruct sits down with NYU Schack Institute of Real Estate Associate Dean Marc Norman and partners at Holland & Knight Joe Guay and Joel Roberson to parse the impact on investors and developers in 2025.

Do you have guests you want to hear from? Topics you want explored? Questions, feedback, critiques? Write to us with "Deconstruct" in...

Matthew Mannion is auctioneer to the stars of New York City real estate. He handled the Flatiron Building's two-parter, the Times Square Margaritaville's flameout and most recently the UCC auction of Cohen Realty Enterprises' interest in a potpourri of assets.

As foreclosure filings keep ticking up, Mannion shares stories from the courthouse steps and the inside scoop on how auctions get done.

Arnaud Karsenti, the head of Miami-based 13th Floor Investments, has a whopping dozen multifamily projects underway in a city set to break another record for deliveries in 2024. Does Miami have the tenants to meet that supply? Karsenti talks in-migration, demand for housing near public transit and the pros and cons of public-private partnerships at The Real Deal's South Florida Real Estate Forum.

Ranches have long been at the beating heart of Texas — first, as working plots; then, as legacy land. During the pandemic, the properties acquired a new sheen, attracting city-weary Texans and would-be cowboys willing to spend tens of millions of dollars for some peace and quiet and peace of mind. Four years later, demand has come roaring back. TRD's Joe Lovinger talks with one of the state's prolific ranch brokers to find out what's drawing all of that dollar volume to the desert.

Election 2024 has been a wild ride for real estate. Housing stole the spotlight as an unlikely bipartisan issue, and the industry’s top donors are allotting dollars based on more than the business. As the nation readies for Tuesday’s vote, TRD Senior Reporter Kathryn Brenzel explains why an “unsexy” voter issue will drive votes, and who big names are backing.

In the latest episode of Deconstruct, TRD's Suzannah Cavanaugh finds out how loan specialists fix bad debt – or at least try to – by talking with loan workout specialists Rob Verrone and Job Warshaw of Iron Hound. Verrone works with sponsors to hash out modifications for distressed CMBS debt, and Warshaw brings perspective from the other side of the table — he spent three decades heading up negotiations for special servicer LNR Partners.

This month, two major hurricanes pummeled the southeastern U.S. As locals face the damage, the industry may be having its own reckoning with the existential threat severe weather poses to real estate. Or not. As developers respond to continued demand for high-risk real estate, and insurance premiums crush disaster-prone areas, Suzannah and Joe talk with South Florida reporters Katherine Kallergis and Kate Hinsche about the tension between the industry and Mother Nature.

In less than one cycle, New Jersey-based investor Shaya Prager went from total unknown to the owner of millions of square feet in suburban office properties across the country. Now, as the market turns, he's mixed up with allegations of fraud and at risk of losing much of his fast-grown portfolio. On the latest episode of Deconstruct, TRD's Suzannah Cavanaugh and Joe Lovinger talk with fellow reporters Jess Hardin and Sam Lounsberry to break down the curious case of Shaya Prager.

In the latest episode of Deconstruct... The Federal Reserve slashed interest rates 50 basis points last month to the euphoria of commercial real estate borrowers. One cut does little to move the needle. But the Fed is projecting more cuts to come. Deconstruct breaks down how three different scenarios could affect refinancings.

In the first episode of Deconstruct's fourth season, host Suzannah Cavanaugh and new co-host Joe Lovinger dive into the swelling concerns and a potential turning point for multifamily owners and operators. Listen for their analysis and Suzannah's conversation with Sean Kia and Ryan Andrade, principals of the fast-growing and oft-criticized Tides Equities.

WeWork emerged from Chapter 11 bankruptcy last month after a herculean effort to cut costs. The task demanded the cooperation of hundreds of landlords and their lenders. Peter Greenspan, the coworking firm’s Global Head of Real Estate, brings Deconstruct to those negotiating tables for a look at how WeWork addressed 500 leases worldwide, and offers listeners a preview of the firm’s next chapter.

Don't expect interest rates to drop back to zero. But your floating-rate loan may be a bit less painful by year's end. The Real Deal's Deconstruct chatted with BGO's Chief Economist Ryan Severino about when rate cuts will come, the data that shows a cooling economy and what risks the Federal Reserve runs if it cuts too little, too late.

Last week, The Real Deal broke the news that top broker Oren Alexander and his twin brother, Alon, had been accused of rape and sexual assault by at least two women. The complaints detail events that allegedly took place more than a decade ago. But the lawsuits and the nearly 30 people who came forward alleging similar incidents after the story published, according to an attorney representing the two women, speak to a pattern of alleged gender-based violence. Deconstruct speaks with South Florida Bureau Chief Katherine Kallergis, Reporter Sheridan Wall and Senior Editor Ellen Cranley about what we know so...