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 pub…

John Douglass of the multi-award-winning Louisville bar Pretty Decent is renowned for his hospitality. But he got a bit hot under the collar when one of his favorite customers complained about a $30 chicken dinner at a fancy spot around the corner. We break that chicken down — and your free chips-and-salsa, too — in this under-priced episode of Aga…

Real estate attorney Isaac Kodsi nabbed Arbor Residences out of foreclosure in late 2023 with two goals: revive the dead condo project and return deposits to former buyers. Not a year later, Kodsi says he nailed the latter goal and is on track to wrap construction by the end of 2024. South Florida Bureau Chief Katherine Kallergis interviewed Kodsi …

Road-tripper Nathan Mealey checked in to ask, “How do you if a brand is ethical?” So I’ve started having that conversation with a number of people, coming at the question from different angles. This first answer considers packaging — specifically glass bottles. We think of those glasses as recyclable. But … are they? It’s a myth-busting episode of …

Last month, Goldman Sachs announced it closed a new real estate credit fund, capable of handing out more than $7 billion. And with regional banks and other financial institutions reeling back their exposure to commercial real estate, Goldman Sachs sees this as the perfect time to get in on the action. Deconstruct chatted with Goldman Sachs' co-head…

How do you turn 24,000 acres of wild maguey Lamparillo and dasylirion into beer? You bring Mike Schallau of is/was brewing to Durango to hang out with Sergio Garnier of Mezcal Ultramundo! Mike has been making beer since 2018 with agave I’ve brought him from Mexico, to fundraise for SACRED. This year, he made the trip himself. The beer is in the wor…

Aleksey Chernobelskiy has many pieces of advice for retail investors writing checks for syndicated real estate deals. But, one of the most important: you could lose it all. As many syndicators — firms that pool equity to buy property — grapple with distress, thanks to rising interes rates, investors have been stuck in the crosshairs trying to deter…

I’ve heard a lot about how bartenders use cocktails as a way to introduce their guests to Mexican spirits like Mezcal, Tequila, Raicilla, Bacanora, and Sotol. And lately, I’ve also heard a little about using those same cocktails to introduce guests to the communities those spirits come from – turning the cocktail into a gateway to another culture. …

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.…

The first time I saw tascalate on a menu it was at Itanoni in Oaxaca. I immediately fell in love with the traditional drink. But finding a second cup – particularly at home in Chicago – was a lost cause. But now, years later, Ximena N. Beltran Quan Kiu has written an article about how tascalte has made its way onto bar menus. And that’s a reflectio…

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.By The Real Deal

I was having a conversation with Grace Gonzalez of Tequila El Mayor and she said something that brought into focus a thought that’s been bumping around in my head: We talk a lot about the ages of the agaves that are used to make Mezcal and Tequila. But there’s really no mechanism to verify that. And, in fact, since different agaves reach maturity a…

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 opportuni…

Four wheels good! Two wheels more good? For the last few years, Nick Barreiro has organized a moto-rally for small group of motorcycle-and-Mexico enthusiasts. And while motorcycles aren’t my speed, I know they work for plenty of gringx bartenders, and I love this whole different way to take in the stories of rural Mexico. Learn about Nick’s interna…

It's not just tax credits. It's not just zoning by right. To make office-to-residential conversion projects work, developers need all of the above, says Bobby Fijan of Philadelphia-based Form Developers. TRD's Deconstruct chatted with Fijan about some of the legislation, policies, subsidies and programs across the country that have helped push thes…

In his New York Times op-ed about the imploding dream of cultivated meat, Joe Fassler writes, “[It] was an embodiment of the wish that we can change everything without changing anything. We wouldn’t need to rethink our relationship to Big Macs and bacon. We could go on believing that the world would always be the way we’ve known it.” And while I ca…

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 i…

Vinepair, Wine Enthusiast, Esquire … seems like every publication these days has their suggestions for what you should have been drinking over the past year. Maybe what you should be purchasing as holiday gifts. But these lists can also serve as sales tools for gringx bartenders! It’s a DIY episode of Agave Road Trip! Agave Road Trip is a criticall…

Lew Horne thought he was going to run a pet store business. Then, he thought he’d sell computerized systems to wholesale grocers. Neither panned out. Instead, Horne runs CBRE’s operations across Los Angeles, Orange County and the Inland Empire, leading advisory services, property and project management and capital markets teams. And in L.A., develo…

We’ve done a lot of episodes about the importance of biodiversity, but usually we’re talking about plants. Sometimes insects. Bats, on occasion. So when we got an email from the gang at Alma de Jaguar Tequila about preserving this apex predator, I thought, yeah, let’s really sink our teeth into this subject! It’s a wild cat episode of Agave Road Tr…

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.…

A trend that’s emerged in the past decade are these drinking straws that are being promoted as made from agave fibers — the agave fibers being a byproduct of the process for making Tequila and Mezcal. The straws are marketed as biodegradable. But I think — emphasis on “think” — that these straws are at least in part made from plastics and are not a…

For the most part, construction lending has dried up across the country, with more and more regional banks pulling back from financing ground-up real estate projects. But Kennedy Wilson, a lender based out of Los Angeles, sees opportunity in that. With more lenders on the sidelines, Kennedy Wilson can take advantage of lending to what it determines…

I’m seeing a lot more restaurants expanding their Mezcal selections, and a lot more events pairing Mezcal with food. So what do you eat when you drink Mezcal? I asked a bunch of industry folks that question over the last several months, then coerced food, science, and nature journalist Rowan Jacobsen to dig through those quotes with me to add his o…

When the National Association of Realtors announced it had proposed to settle a landmark antitrust suit over real estate agent commissions for $418 million, everyone had questions. The Real Deal's Deconstruct breaks down what is changing — and what is not. TRD reporters Sheridan Wall and Harrison Connery discuss NAR's new rule prohibiting broker co…

Since I first met Sergio Garnier, before he launched Mezcal Ultramundo, we’ve debated about the relative merits of certifying your agave spirits as Mezcal. We decided it was time to record our disagreement. It’s a what-side-are-you-on episode of Agave Road Trip! Agave Road Trip is a critically acclaimed, award-winning podcast that helps gringx bart…

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 invest…

The fist time I tasted an agave spirit fermented in the skin of a bull, it was all anyone was talking about in Oaxaca. I tasted it at three mezcalerias, and all three bottles were made by Amando Alvarado Alvarez in Santa Maria Ixcatlan, Oaxaca. I made my way out to visit him a few months later, to see the bull-skin fermenters myself. And when I sha…

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.By The Real Deal

Did the small family producers in Tequila, Jalisco, eat the metaphorical and literal lunch of the big producers in Guanajuato and San Luis Potosi at the 1893 World’s Fair? It’s a What If? episode of Agave Road Trip! Agave Road Trip is a critically acclaimed, award-winning podcast that helps gringx bartenders better understand agave, agave spirits, …

Gil Dezer knows how to build branded condos. From the Porsche Design Tower to the Armani Residences in South Florida, Dezer is now focused on building the Bentley Residences. Despite growing up in New York City, Dezer is now Miami through and through and remains bullish about the city and South Florida in general — and believes people will keep she…

I got obsessed with Rowan Jacobsen when American Terroir hit bookstores in 2010, and was recently re-obsessed when his podcast “Wild Chocolate” dropped into my feed. So I reached out and he noted he was writing a sustainability feature about Mezcal for Bloomberg’s Businessweek. That article dropped last week, but this episode was recorded prior to …

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…

How do you find reliable sources for information about adult beverages? This is a multi-billion dollar industry, there should be reliable places to learn about trends. But I keep seeing significant errors in articles about agave spirits — which leads me to question what I’m reading about other spirits. And food. It’s an “On the Media” episode of Ag…

For the last six months, Arbor Realty Trust has been the target of a prominent short seller, Viceroy Research, which claims that a huge chunk of its collateralized loan obligation, or CLO, portfolio is in trouble. Arbor, though it denies the short seller's numbers, said it is experiencing challenges and delinquencies are set to rise. And the compan…

A couple weeks ago, I threw the Washington Post under the bus for failing to recognize that food journalism is — or should be — journalism. This week I throw myself under the bus for an article I wrote for InsideHook. Not because it fails as journalism — I’ll let someone else make that claim. But because I think it misses the most relevant point ab…

After the 2008 financial crisis, investment managers came up with a new securitized product: the collateralized loan obligation, or CLO, for commercial real estate. It was designed to correct some of the risks that came with its predecessor, the collateralized debt obligation. But what exactly is the CRE CLO and how does it work? Deconstruct enlist…

Why are there so few Mezcal and Tequila brands owned by the people who produce them? When I try to rattle off the names of brands of Mezcal and Tequila that are owned by the people who actually make those spirits, it’s more of a clunk than a rattle. Why is that? And why is that important? It’s an own-or-be-owned episode of Agave Road Trip! Agave Ro…

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.…

Do you want to preserve the biodiversity of agaves? Or do you want to preserve agaves in the wild? Because those are two different things, often at odds with one another. And you can’t have that conversation without talking about the reasons for the disappearing wild lands in Mexico. But that’s exactly what the Washington Post did last week, when t…

Not many commercial brokers branch out to start their own brokerages. But in 2015, Kyle Matthews did. Today, his Nashville-based firm Matthews Real Estate has done more than $50 billion in deals and about 650 agents. Most of what Matthews is focused on is advising clients — helping buyers and sellers sort out investments and identify pockets of opp…

Heather Morse traveled to Mexico City with her husband, Aaron. And her dog. And her cat. By car. From Las Vegas. If you’ve ever wanted cross the border in a car, with your pets, and make it back home with everything intact, this might be the episode you’ve been waiting for. Agave Road Trip is a critically acclaimed, award-winning podcast that helps…

Heading into 2024, rate cuts are the silver lining on everyone’s mind. Still, Ron Dickerman, founder and president of private equity firm Madison International Realty, sees 2024 as a “transitional year.” As capital cautiously comes off the sidelines, Dickerman talks opportunity in the wall of maturities and which asset classes he’s eyeing. Hint: Co…

In a Wine Enthusiast op-ed titled “Is it time to leave Tequila alone?,” spirits and cocktail writer Kara Newman asks, “When it comes to pushing tequila’s boundaries, how far is too far?” Now, I tend to be a “head to the endzone” kind of guy, so I’ve brought in Ana Rita García Lascurain, founder and director of MUCHO, Mexico City’s museum of chocola…

Pull back the cover of The Real Deal's January issue and you'll find NIMBY vs. YIMBY battles unfolding across the country. Deconstruct talks with TRD senior reporters and bureau chiefs to unpack what's driving development and blocking construction in New York, South Florida, Los Angeles, Austin and Chicago.…

There’s Mrs. Butterworth’s, and then there’s fine Vermont maple syrup. And the same extremes exist for agave syrup. But here’s the thing: the artisanal version of agave syrup has this whole cultural heritage aspect to it. And you’ve probably only been able to access Mrs. Agaveworth’s. Until now! It’s a sticky, chicken-feather-covered episode of Aga…

Imagine a scenario where you, a developer, could pick a site on a map and discover exactly what you could build there. No more hiring experts, contacting the city, finding ways to match zoning requirements. Deepblocks, run by Olivia Ramos, is trying to do exactly that and more, using artificial intelligence. Deconstruct sat down with Ramos at The R…

Gonzalo Alvarez is pursuing his master’s degree in pulque. Ivan Saldana has his doctorate in agave. Both tell me that farmed agave produces better pulque than wild agave. But on trips through Nuevo Leon, Cohuila, and Hidalgo, three pulque producers said the exact opposite. So … what’s the truth? They call me the Seeker, and I search low and high in…

The Real Deal dubbed New York’s last legislative session the “housing session that wasn’t.” Developers desperate for a 421a tax abatement replacement went home empty handed. Tenant advocates saw no movement on the renter protection good cause eviction. Could 2024 be different? Alicia Glen, housing expert and deputy mayor for housing and economic de…

It started with a rumor I heard as a kid, that Maraschino cherries and bubblegum would stay in your stomach for seven years. Which led to a conversation about digestion. Which led to a conversation about fermentation. And Bloody Marys. And how your digestive system works. All of which is to say, Agave Road Trip’s Chief Medical Correspondent Dr. Rya…