The Master of Science
degree in Real Estate Development is a one-year,
45- point degree. Students attend full time during
the fall and spring terms, and are awarded degrees in May.
In Columbia MSRED courses, theory, quantitative techniques,
industry best practices, and extensive case study
materials are combined. Students must take 30 credits
of required core courses from the Real Estate Development
Program, with the rest constituting electives chosen
from elsewhere within Columbia. Upon special application
the electives may be increased and certain core
courses waived, based on prior experience.
Summer Term
| Pl A4312 |
Real estate finance, I |
3 pts |
| Pl A6348 |
Architectural design for non-architects |
3 pts |
| Pl A6568 |
Public-private partnerships in real estate |
3 pts |
| Pl A6352 |
Market analysis |
3 pts |
| Pl A6350 |
Repositioning real estate: development concepts and asset turnaround strategies |
3 pts |
| Various |
Free elective |
3 pts |
| |
|
Min. 15 pts |
Fall Term
| Pl A4314 |
Real estate finance, II |
3 pts |
| Various |
Real estate elective (i.e. Site planning or Real estate opportunities) |
3 pts |
| Pl A6354 |
Political environment of development |
3 pts |
| Pl A6333 |
Real estate law |
3 pts |
| Pl A6357 |
Trends in real estate |
3 pts |
| Various |
Free elective or independent research |
3 pts |
| |
|
Min. 15 pts |
Spring Term
| Pl A4316 |
Real estate finance, III |
3 pts |
| Pl A6356 |
Construction technology and management |
3 pts |
| Pl A6338 |
CHDD or international real estate |
3 pts |
| TBD |
Case studies studio/ Capstone project |
6 pts |
| Various |
Free elective or internship program (optional) |
3 pts |
| |
|
Min. 15 pts |
MSRED Courses
PLA 4312
Real Estate Finance I
Mr. Kahr, Mr. Boytinick, et al, 3 pts
Prerequisites: Familiarity with computer spreadsheets,
concepts of net present value, and other financial
formulae. Introduction to methods of financial analysis
for real estate investments. Topics include methods
of valuation, cash flow forecasting, computer modeling,
debt, leverage, and deal structures. Emphasis is
placed on the financing of individual projects.
This course requires greater than average preparation
time. It is heavily oriented toward numerical analysis
and makes use of case studies and computer spreadsheet
analysis
PLA 4314
Real Estate Finance I Advance
Mr. Laven, 3 pts
Prerequisite: Successful completion of PLA 4312,
Real Estate Finance I A carryover from Real Estate
Finance I to complete individual project financing.
Additional topics include an overview of the real
estate capital markets, selected analytic techniques
for investment banking, affordable housing tax credits,
commercial mortgage backed securities, and real
estate investment trusts. Reviews of financial feasibility
by project type include office, residential, and
hotels. This course requires even more than average
preparation time than Real Estate Finance I and
may involve case studies with team analysis and
presentations.
PLA 4538
Real Estate Opportunities
Mr. Bell, 3pts
Detailed analysis of the components of the real
estate development process and the functions of
the key participants. Topics include techniques
for selecting, organizing, and managing the development
team; scheduling and risk management; negotiating
strategies; utilizing government financing and subsidy
programs; and marketing and managing completed projects.
PLA 6260
Center for High Density Development Seminar
Mr. Buckley, 3 pts
Advanced seminar explores the advantages, critical
success factors, and performance measurements for
high density development in the belief that such
developments offer better use of expensive infrastructure;
greater fiscal and operational efficiencies; higher
created value with lower cap rates and more stable
revenues; maximum workforce diversity; quality architecture
and place-making; concentrated cultural and educational
offerings.
PLA 6333
Real Estate Law
Mr. Gold, 3 pts
This course covers contractual aspects of real estate
development, finance, and management. Topics include
structural organization and tax consideration, environmental
risk allocation, sale agreements, architect and
construction contracts, financing alternatives,
(including securitization), ground leases and commercial
space leases, affordable housing projects, and public-private
development agreements.
PLA 6339
Trends in Real Estate/
The Roundtable Series
Mr. Buckley & visiting lecturers, 2 pts
Students participate in a series of topically oriented
roundtable discussions with invited industry experts,
developers, and financiers. The Roundtable Series
also serves to explore specific development and
financial issues and career opportunities in selected
areas.
PLA 6340
Real Estate Development Thesis
Mr. Buckley, Mr. Bell, 1 pt
Directed by a faculty advisor, the objective is
to guide students through the preliminary stages
of thesis preparation. Thesis topics can be derived
from several categories: a thorough case study of
a significant real estate project that has been
substantially completed; a development proposal
for a sufficiently large and complex future real
estate project; or a detailed evaluation of a public
law, public policy or private-sector initiative
that has had or is expected to have a major impact
on real estate development
PLA 6348
Architectural Design for Non-Architects
Ms. Ramati, 3 pts
Specifically intended for those students without
architectural training or experience, this course
introduces the student to the notion that "good
design is good business." Through the study of basic
architectural thinking, the student learns how to
read architectural plans and appreciate architecture
and urban design as it relates to housing, hotel,
office, and retail design. Many visits are made
to architects' offices and to a variety of projects
in New York City.
PLA 6350
Asset Repositioning & Concept Development
Mr. Buckley, 3 pts
Basic principles of architectural and urban design
and the relationship between the developer and the
architect including the management of the design
process. Topics include asset repositioning, master
planning, the relationship between form and function,
special zoning techniques, and large-scale project
design.
PLA 6352
Development Market Analysis
Mr. Shorter 3 pts
Identification of critical market factors in national,
regional, and urban real estate markets that determine
development opportunities. Topics include business
and construction cycles, regional and urban growth
trends, restructuring of urban space, hotel feasibility,
commercial and industrial location theories, and
demographic analysis and projection techniques.
PLA 6354
Political Environment of Development
Mr. Alschuler, Mr. Weisbrod, 3 pts
Analysis of the political issues and conflicts influencing
development. Topics include case studies, public
laws influencing development, interest group politics,
public approval processes, impacts of development
on population groups and communities, and the competing
equity claims of different members of society.
PLA 6356
Asset Management
Mr. Popkin et al, 3 pts
Effective management at the property and portfolio
level is increasingly a critical value additive
function of the real estate process. This course
focuses on best practices in asset management with
an emphasis on processes for operations, cost controls,
and tenant relations techniques.
PLA 6357
Construction Technology and Management
Mr. Silverman, 3 pts
An overview of cost alternative technologies, the
construction process, and construction management.
Topics include cost estimating; scheduling and management
techniques; contract documents; bidding; changes,
extras, and claims; and community public agency,
and labor relations.
PLA 6568
Public-Private Partnerships in Real Estate Development
Mr. Lima, Mr. Paley, 3 pts
Real estate development in the public sector, a
complex blend of economic imperatives and motivations
to improve the public realm, involves multiple participants
with widely divergent goals and agendas. This course
examines the powers and constraints of public agencies,
structuring public/private partnerships, and managing
ongoing governmental participation. Case studies
are drawn from a variety of projects that range
from large-scale such as the Times Square Redevelopment,
to small-scale projects.
PLA 8792
Research Methods/Internship Program
Mr. Buckley, 3 pts
Structured as an internship and independent research
class, students have the opportunity to select from
a group of public agencies, financial institutions,
private developers, and non-profit organizations
actively involved in real estate. The course is
designed to provide participants with hands-on experience
working with real estate and real estate related
issues. Independent research efforts can include
development feasibility, financial analysis, market
research, asset management, policy review, and industry
studies
