Inside the 2025 Multifamily Debt Crisis: Jake Glück Explains What’s Really Going On.

In this episode, Yaakov sits down with Jake Gluck, founder of Fortune Capital Group, for a raw and unfiltered breakdown of today’s multifamily debt market.Jake shares his path from starting at Eastern Union with zero industry background to becoming a top debt broker working across agency, bank, CMBS, and bridge platforms.They dig into the real issues driving distress—including skyrocketing delinquencies, bad management, unrealistic underwriting, and the false hope of “waiting for rates to drop.” Jake explains why so many owners are now accepting massive haircuts, why third-party managers are failing, why agency lenders are digging deeper than ever, how CMBS and new debt funds are quietly saving deals that no bank will touch, and why 2025 might be the most opportunistic buying window in over a decade—if you know how to execute.