M.S. in Real Estate

CURRICULUM

The NYU Schack Institute of Real Estate’s Master of Science in Real Estate requires that students complete 42 credits including: a three-tiered core that provides you with a broad foundation for the entire discipline of real estate; a concentration which includes a Capstone that is taken in lieu of a thesis or comprehensive exam; and one elective course to further enhance your proficiency in your specialty area or broaden your understanding of related areas, including construction management. Through full-time study, students can complete this program in two years, or part-time in up to five years.

• View Degree Requirements with links to full course descriptions.

CORE COURSES
The core curriculum is designed to provide you with a deep and broad foundation that supports concentration coursework and serves you throughout your career.

Tier I courses lay the groundwork for understanding the legal and accounting environment in which transactions take place, as well as the macro forces underlying current and future demand for the various forms of real estate. You also acquire the analytic tools requisite for valuing real estate assets.

In Tier II courses, you learn to analyze demand for a particular property type at a specific location and the options for financing that property. The Development Process course brings real estate and construction management students together to examine every phase, from proposal through contracts up to project completion. You also learn to develop your own negotiating style and explore the range of options within the arena of alternative dispute resolution, including mediation and arbitration.

In Tier III, you acquire a solid grounding in the broader public equity and debt markets, and learn the financial analysis and cost of capital metrics that are employed on Wall Street. You examine the world of securitized real estate and the global capital markets.

CONCENTRATIONS
To build on the core courses, you select one of four concentrations in which to specialize. A concentration consists of two courses plus one elective course chosen from any of the concentrations or from the special topics electives that are offered on a rotating basis. Each concentration also includes a Capstone course specific to your area of study.

Development—In this concentration, you study all phases of development from land use and zoning to design and environmental issues. You learn how to examine project feasibility; form project teams; secure financing; and work with design, engineering, and construction professionals. From residential developments to mixed-use commercial properties, you master the challenges of, and explore opportunities for, developing real estate projects.

Digital Design Applications for Real Estate—As design software technology has advanced and the complexity of real estate development projects requires heightened communication, coordination, and discussion between investors, lenders, public officials, and community organizations, the significance of digital design applications to real estate has grown exponentially. This concentration teaches students how digital design can be used to expedite the real estate decision-making process and project presentation.

Finance and Investment —With our proximity to the leading players in the global capital markets, you have an unequaled opportunity for exposure to breaking developments affecting real estate capital investment strategies. Many of our faculty are on the leading edge of structuring the deals, both in the investment banking and private-side lending and ownership communities. You will be prepared as few others are for real-world financial and investment analysis at the highest level.

Strategic Real Estate Management — This concentration focuses on real estate acquisition, asset management, restructuring and workouts, and the leadership and management of the real estate enterprise. Examine management effectiveness and capital budgeting on a short and long term basis as well as refinancing and repositioning to maximize value for current and future market cycles.

CAPSTONE COURSE
A Capstone course in each concentration encompasses and applies all prior coursework, engaging you in the production of a professional-quality project or proposal. In each case, actual market data and industry resources are researched and employed in the creation of a product or proposal specific to the concentration. Capstone projects are the principal assessment device used to evaluate your understanding of the various disciplines. Capstone projects are required for the degree, in lieu of a thesis or comprehensive exam.

• M.S. in Real Estate: Degree Requirements and Course Descriptions