Deconstruct

Developer Sam Charney Dissects New York's 421a Extension and New Tax Break on the Block 485x

May 20th, 2024  |  Season 3  |  26 mins 55 secs

Last month, Gov. Kathy Hochul passed a bombshell housing deal that extended the 421a tax abatement and introduced a new tax break for apartment projects: 485x. Developer Sam Charney of Charney Companies talks the profit potential of 485x compared to 421a, demand for sites eligible for the extension and when rental construction will ramp back up.

Deconstruct Live! Talks Bank Failures, Multifamily Fears with Fortress, Benefit Street and Urban Standard

May 13th, 2024  |  Season 3  |  30 mins 22 secs

benefit street partners, cre, distress, fortress, lending, urban standard capital

It's Deconstruct Live! at The Real Deal's New York Forum. Fortress' Steve Stuart, Benefit Street Partners' Mike Comparato and Urban Standard Capital's Seth Weissman talk bank failures, distressed note buying and lending demand in a live taping of Deconstruct.

What Marijuana's Reclassifying Means For Pot Shops and Cannabis Capital

May 6th, 2024  |  Season 3  |  21 mins 31 secs

cannabis, dea, marijuana, reit, schedule i, schedule iii

Last week, the U.S. Drug Enforcement Administration said it would move toward reclassifying marijuana as a less dangerous drug — Schedule III instead of Schedule I. The move has big implications for the intersection of cannabis and real estate. Founder and CEO of cannabis REIT NewLake Capital Partners Anthony Coniglio talks tax relief and opportunity.

Looking at the Legislation Critical to Making Office-to-Residential Conversions Work

April 29th, 2024  |  Season 3  |  32 mins 41 secs

bobby fijan, business, commercial real estate, conversions, development, distress, financing, form developers, housing, investing, legislation, new york city, news, office, office-to-resi, office-to-residential, policy, real estate, real estate news, zoning

The Real Deal's Deconstruct chats with Philadelphia-based developer Bobby Fijan of Form Developers about what legislation, policies, subsidies and programs have helped push forward office-to-residential conversions.

New York Finally Gets a Housing Deal

April 22nd, 2024  |  Season 3  |  20 mins 13 secs

albany, business, housing, housing construction, housing deal, investing, kathy hochul, multifamily, new york, new york city, news, real estate, real estate news

Note: This episode was recorded before the state finalized a housing deal. For a detailed break down of what passed check out Senior Reporter Kathryn Brenzel's story here:

After years of negotiations, Albany has finally fleshed out the framework for a housing deal. Tenants call it a give away to developers. Landlords have their own gripes with an intended boon for rent-stabilized owners. Deconstruct sits down with The Real Deal's Kathryn Brenzel to talk Gov. Kathy Hochul’s “parameters of a conceptual agreement.”

The Closing With CBRE's LA Head Lew Horne

April 15th, 2024  |  Season 3  |  35 mins 51 secs

business, cbre, commercial real estate, investing, lew horne, los angeles, office market, real estate, real estate news, the closing, the real deal

The Real Deal spokes to CBRE's LA head, Lew Horne, about L.A.'s transfer taxes, the city's office market, his family and career. Deconstruct is airing an extended version of this interview, which appeared in the April issue of The Real Deal's magazine. To read the interview online, head to TheRealDeal.com.

Moody's Checks In on the Wall of Office Maturities

April 8th, 2024  |  Season 3  |  21 mins 25 secs

cmbs, debt, distress, foreclosures, loans, maturities, moody's, office, special servicing, wall of maturities

The foretold wall of CMBS maturities has hit and early data on office loans signals the fears around repayments — that troubled owners won't be able to swing it — are being realized. Deconstruct talks with Moody's Analytics Senior Director and Head of CRE Economic Analysis Kevin Fagan and Director of CRE Economics Matt Reidy.

How Lender Kennedy Wilson Picks a Real Estate Development to Finance

April 1st, 2024  |  Season 3  |  24 mins 51 secs

business, construction, construction financing, debt origination, development, investing, kennedy wilson, lending, mezzanine financing, news, preferred equity, real estate, real estate and finance, real estate news

The Real Deal's podcast Deconstruct looks at construction financing and how Kennedy Wilson, a lender in Los Angeles, is choosing which projects to lend on.

Breaking Down The NAR Settlement

March 25th, 2024  |  Season 3  |  16 mins 51 secs

broker commissions, business, commissions, home buying, housing, housing market, investing, lawsuits, mls, nar, national association of realtors, news, real estate, real estate news, residential real estate

The Real Deal's podcast Deconstruct looks at the National Association of Realtors' $418 million settlement and the commission rules that are changing.

Congress v. Hedge Funds: Single-Family Rental Edition

March 18th, 2024  |  Season 3  |  16 mins 52 secs

blackstone, build-to-rent, congress, hedge funds, institutional investors, single-family rentals

In December, Democrats in Congress introduced a bill that would put an end to hedge fund ownership of single-family homes. As demand for single-family rentals continues to grow, developers specializing in build-to-rent claim they'll get burnt. Deconstruct breaks down who's in the crosshairs and the likelihood that legislation can rein in the investment giants.

Have We Hit Bottom? A Price Check on Office

March 11th, 2024  |  Season 3  |  27 mins 31 secs

century city, chicago, downtown los angeles, fulton market, office, san francisco, the loop

From Chicago to San Francisco, office buildings continue to trade at astonishing discounts and reappraisals show value declines as high as 80 percent. But is there further left to fall? The Real Deal's Chicago Bureau Chief Sam Lounsberry and West Coast Bureau Chief Isabella Farr weigh in.

Gil Dezer on Luxury Development, Financing and the South Florida Boom (Plus His Love For Cars)

March 4th, 2024  |  Season 3  |  24 mins 57 secs

business, capital markets, commercial real estate, condo market, construction financing, dezer development, gil dezer, investing, miami, new york city, news, porsche design tower, real estate, real estate news, south florida

The Real Deal's podcast Deconstruct chatted with Gil Dezer of Dezer Development about developing high-end, luxury condo towers in South Florida, financing availability and why he'll always be bullish on Miami.

The Real Guy Behind StripMallGuy

February 26th, 2024  |  Season 3  |  17 mins 14 secs

commercial real estate, don tepman, real estate investing, strip malls, stripmallguy, university avenue partners

If you're on RETwit (now Real Estate X), you've probably read Don Tepman's posts. You just didn't know it. Tepman, who heads University Avenue Partners, is StripMallGuy, the once anonymous X account that amassed over 200k followers since 2021. Tepman, now unmasked, sits down with Deconstruct to talk why he went public and of course, what's next for strip malls.

The Short-Seller And The REIT: Inside Arbor Realty Trust's CLOs

February 19th, 2024  |  Season 3  |  29 mins 14 secs

arbor realty trust, business, capital markets, commercial real estate, investing, multifamily, new york city, news, real estate, real estate news, reit, sun belt, syndication

The Real Deal's Deconstruct looks at Arbor Realty Trust's earnings and speaks to Viceroy Research's Gabriel Bernarde about short selling Arbor's stock.

Unpacking The CRE CLO

February 12th, 2024  |  Season 3  |  24 mins 20 secs

business, capital markets, clo, cmbs, collateralized debt obligation, commercial real estate, investing, multifamily, new york city, news, real estate, real estate news, syndicator

The Real Deal's podcast Deconstruct digs into the commercial real estate collateralized loan obligation, or CRE CLO.

New York Community Bank: Canary in the Coal Mine for CRE Pain?

February 5th, 2024  |  Season 3  |  22 mins 17 secs

distress, earnings, loans, losses. commercial real estate, nycb, office, regional banks, rent stabilization

New York Community Bank reported a surprise loss in the fourth quarter, took an axe to its dividend and socked away over $500 million for commercial real estate losses. The bank's stock sunk to a 23-year low and other regional lenders fell in response. Is NYCB a red flag or a one-off for CRE distress in the banking space? Deconstruct digs in.