The $14M Escrow Scandal That Rocked NYC Real Estate

A disgraced New York real estate attorney is getting a second chance after one of the industry's most notorious fraud scandals.

Mitch Kossoff, who pleaded guilty to stealing more than $14.6 million from clients' escrow accounts, has been released on parole after serving more than four years behind bars. But what drove a successful attorney to steal from some of New York's biggest landlords? And what happens to the victims still trying to recover their money?

The Real Deal's commercial bureau chief Rich Bockmann joins Deconstruct hosts Lilah Burke and Amanda Gladowski to unpack Kossoff's crimes, his account of what went wrong and the lingering fallout from his law firm's collapse — including a lawsuit against JPMorgan Chase.

Plus, Amanda takes us inside NYU's five-week course designed to teach the heirs of real estate fortunes how to navigate family business succession, sibling rivalries and Thanksgiving dinner.

The hosts also discuss the real estate implications of the 2026 elections, questions surrounding Fannie Mae and Freddie Mac's lending to New York's rent-stabilized properties, and the big deals driving Manhattan office rents back toward pre-pandemic highs.