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M.S. Real Estate Development

Overview
The Master of Science in Real Estate Development program is a three-semester degree that combines the fundamental skills of professional real estate with a holistic approach to urban development as a creative act. The program is cross-disciplinary, drawing on its proximity to other modes of practice at the school, and is grounded in the three core tenets of global urban real estate development: the financial, the physical, and the social. It attracts future business leaders looking for an alternative to an MBA and committed architects hoping to run their own design/build firm. The program’s strength lies in its ability to weave current knowledge and best practices from the industry together with rigorous theoretical learning, incisive critical analysis, and immersive real-world case studies.

The Real Estate Development program is structured to provide a comprehensive understanding of finance and investment, project management, predevelopment analysis, zoning and planning, acquisition underwriting, and the value of design in real estate practices. In recent years, the program has greatly expanded its emphasis on financial investment and strengthened its relevancy in terms of real estate markets, introducing a new real estate technology sequence to the curriculum and increasing the availability of technology resources for research. The curriculum builds its foundational knowledge incrementally over the three terms: the first semester is dedicated to developing solid, core competencies and the majority of classes are required; the second, grants more space to focus on the development of specific industry interests; and the third consists mostly of deep-dive electives offered across GSAPP, Columbia Business School, Columbia School of International and Public Affairs, and Columbia Law School. The program culminates in a final Capstone project.

The program’s Capstone class begins with initial group work as students learn about five different active real estate case-study sites, and ends with individual Capstone projects. Students must create their own personalized Capstone “deal-book” (with all the relevant financial information, design proposals, and market analysis data), as well as deliver a presentation and defend their project to an audience of peers, alumni, and faculty. 

The Master of Science in Real Estate Development curriculum is bolstered by its proximity to the city and to the real-world opportunities that it offers: Professionals from the real-estate industry in New York City visit campus daily as adjunct professors, alumni mentors, and lunchbox lecture speakers. The program cohort also visits the Urban Land Institute (ULI) in Washington, DC every fall. Approximately a third of individuals in the program complete a part-time spring internship to gain additional work experience in NYC.

Curriculum

Intensive Summer Semester

The introduction to the program begins with immersion in real estate finance, construction technology, market analytics, and other foundational subjects. Electives are limited to allow students with diverse background experiences to build essential financial, graphic, and analytical competencies.

Expansive Fall Semester

While core skills continue to be developed—particularly in finance, history of development, and real estate law—students are given significant elective opportunities to broaden their theoretical and applied skill sets by concentrating on the unique finance or design course tracks available only at Columbia.

Integrated Spring Semester

With a central focus on capstone projects, complex financial and economic modeling, and public policy, students bring together a cross-disciplinary portfolio of independent and supervised research and coursework, graduating with a holistic professional foundation.

Columbia GSAPP MSRED Program Introduction
Current Faculty
Mitchell Adelstein
Nathalia Bernardo
William Heishman
Roger Nussenblatt
Gregory Pietrycha
Rosemary Scanlon
Margaret Streicker-Porres
James von Klemperer
Robert Wertheimer

Fall 2020 Courses

Course Semester Title Student Work Instructor Syllabus Requirements & Sequence Location & Time Session & Points Call No.
A6840‑1 Fall 2020
Real Estate Investment Fundamentals
Clarence Radin
Online
W 7 PM - 9 PM
SES B
1.5 Points
12831
A6840‑2 Fall 2020
Real Estate Investment Fundamentals
Chris Munsell
Online
W 7 PM - 9 PM
SES B
1.5 Points
12832
P6798‑1 Fall 2020
Legal Principles of Real Estate
Mitchell Nelson RED ONLY
Online
W 9 AM -11 AM
SES A
1.5 Points
12828
Pla4310‑1 Fall 2020
Real Estate Finance I
Patrice Derrington
113 AVERY
M 9 AM - 11:30 AM
FULL SEMESTER
3 Points
11944
PLA4311‑1 Fall 2020
Real Estate Finance Concepts Tutorial
Online
TH 6:30 - 8:30 PM
FULL SEMESTER
0 Points
22884
PLA4322‑1 Fall 2020
Real Estate Finance Tutorial
Johnny Din
Online
W 3 PM - 4:30 PM
FULL SEMESTER
0 Points
11945
Pla4538‑1 Fall 2020
Real Estate Entrepreneurialism For Architects, Builders, Developers, Buyers & Sellers
Harold Bell
Online
W 11 AM - 1 PM
FULL SEMESTER
3 Points
11946
Pla6050‑1 Fall 2020
Internship
Rebecca Andersen Polimeda
Online
NA
FULL SEMESTER
1.5 Points
15724
Pla6222‑1 Fall 2020
Affordable Housing Finance Techniques
Richard Froehlich
Online
TU 9 AM - 11 AM
SES A
1.5 Points
15723
PLA6223‑1 Fall 2020
Affordable Housing Finance
Richard Froehlich
Online
TU 9 AM -11 AM
SES B
1.5 Points
22885
Pla6333‑1 Fall 2020
Legal Elements of the Development Process
Richard Leland RED ONLY
Online
W 9 AM -11 AM
SES B
1.5 Points
12957
Pla6352‑1 Fall 2020
Market Analysis
Patrice Derrington, Jonathan Miller
113 AVERY
TH 12 PM - 2 PM
SES B
1.5 Points
12815
Pla6360‑1 Fall 2020
Development Analysis: Urban Planning
Kate Ascher
Online
TH 9 AM - 11 AM
SES A
1.5 Points
12821
Pla6360‑2 Fall 2020
Development Analysis: Urban Planning Zoning Lab
Adam Meagher
Online
TU 6:30 - 8:30 PM
SES A
0 Points
12822
Pla6368‑1 Fall 2020
Pre-Development Analysis
Kate Ascher
Online
TH 9 AM - 11 AM
SES B
1.5 Points
12823
Pla6376‑1 Fall 2020
The Dealmaking Process
Mitchell Adelstein RED ONLY
Online
M 4 PM - 6 PM
SES B
1.5 Points
12824
Pla6378‑1 Fall 2020
The Art of the Development Proposal
Brian Loughlin RED ONLY
Online
TU 6 PM - 9 PM
SES B
1.5 Points
12826
Pla6769‑1 Fall 2020
The Architecture of Development
Brooks McDaniel RED ONLY
Online
W 7 PM - 9 PM
SES A
1.5 Points
12829
Pla6793‑1 Fall 2020
The Business of Development
Shai Shamir RED ONLY
Online
TU 9 AM - 11 AM
SES A
1.5 Points
12827
Pla6801‑1 Fall 2020
Proptech: Nothing Ventured, Nothing Gained
Zachary Aarons
Online
TU 2 PM - 4 PM
SES B
1.5 Points
21602
Pla6835‑1 Fall 2020
Intro to Capital Markets
Merrie Frankel
Online
TH 3 PM - 5 PM
SES B
1.5 Points
12830
PLA6845‑1 Fall 2020
Introduction to Programming in Python for RED
Eric Schles
Online
M 6:15 PM - 8:15 PM
SES A
1.5 Points
12929
PLA6846‑1 Fall 2020
Machine Learning in Python
Online
M 6:15 PM - 8:15 PM
SES B
1.5 Points
22748
PLA6848‑1 Fall 2020
Real Estate Debt
Chris Munsell
Online
TU 7 PM - 9 PM
SES B
1.5 Points
22652
Pla8792 Fall 2020
Independent Study
Jessica Stockton King
Online
NA
FULL SEMESTER
2 or 3 Points
0
A4861‑1 Fall 2020
Footprint: Carbon and Design
David Benjamin
Online
TH 11 AM - 1 PM
FULL SEMESTER
3 Points
11772
A4892‑1 Fall 2020
Data Visualization for Architecture, Urbanism and the Humanities
Jia Zhang
Online
F 9 AM -11 AM
FULL SEMSTER
3 Points
11269
A6883‑1 Fall 2020
Public Interest Technology: Cities, Design, Code, Reporting
Laura Kurgan
Online
F 11 AM- 1 PM
FULL SEMESTER
3 Points
12925
A6944‑1 Fall 2020
Power and Preservation
Brent Leggs
Online
MTWRF 6 PM - 8 PM
10/12 - 10/23
1.5 Points
12808

M.S. RED student Samuel Oketcho at the Fall 2016 ULI Conference in Dallas
The ULI Fall Meeting attracts more than 6,000 attendees annually, bringing together every sector of the real estate industry in one place. Columbia GSAPP’s M.S. RED students attended the Fall 2016 meeting in Dallas in full force, where student Samuel Oketcho was interview by ULI on his takeaways from the conference.