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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 legal. 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
Recent News
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Fall 2019 Courses

Course Semester Title Student Work Instructor Syllabus Requirements & Sequence Location & Time Session & Points Call No.
Pla4312‑1 Fall 2019
Real Estate Finance II: Case Studies
Chris Munsell, Steven Bloom RED ONLY
113 AVERY HALL
TH 4 PM - 6 PM
FULL SEMESTER
3 Points
41414
Pla4312‑2 Fall 2019
Real Estate Finance II: Case Studies
Chris Munsell, Steven Bloom RED ONLY
113 AVERY HALL
TH 6:30 PM - 8:30 PM
FULL SEMESTER
3 Points
41415
PLA4322‑1 Fall 2019
Real Estate Finance Excel Modeling Tutorial
Johnny Din
113 AVERY
TH 9 AM - 10 :30 AM
FULL SEMESTER, ALTERNATING WEEKS
0 Points
41531
Pla4538‑1 Fall 2019
Real Estate Entrepreneurialism For Architects, Builders, Developers, Buyers & Sellers
Harold Bell
209 FAYERWEATHER
TU 11 AM - 1 PM
FULL SEMESTER
3 Points
41532
Pla6222‑1 Fall 2019
Affordable Housing Finance Techniques
Richard Froehlich
209 FAYERWEATHER
TU 9 AM-11 AM
FULL SEMESTER
3 Points
41418
Pla6252‑1 Fall 2019
Architect and Developer Dialogues
Raquel Ramati RED ONLY
209 FAYERWEATHER
W 3 PM - 5 PM
SES B= 10/21-12/9
1.5 Points
41419
Pla6259‑1 Fall 2019
Capital Markets : REIT Analysis
David Kruth RED ONLY
114 AVERY HALL
TU 4 PM - 6 PM
FULL SEMESTER
3 Points
41420
Pla6265‑1 Fall 2019
Underwriting
Roger Nussenblatt RED ONLY
209 FAYERWEATHER
W 6 PM-8 PM
SES A= 9/3-10/18
1.5 Points
41421
Pla6265‑2 Fall 2019
Underwriting
Roger Nussenblatt RED ONLY
113 AVERY
W 6 PM-8 PM
SES B= 10/21-12/9
1.5 Points
41422
Pla6274‑1 Fall 2019
Residential Development & Asset Strategy
Margaret Streicker-Porres
114 AVERY
TH 11 AM - 1 PM
SES A= 9/3-10/18
1.5 Points
41366
Pla6281‑1 Fall 2019
Hotel Development and Investment Analysis
Adam Feil
209 FAYERWEATHER
F 9 AM - 11 AM
SES B= 10/21-12/9
1.5 Points
41525
Pla6333‑1 Fall 2019
Real Estate Law
Richard Leland
113 AVERY HALL
W 9 AM-11 AM
FULL SEMESTER
3 Points
41494
Pla6359‑1 Fall 2019
Global Real Estate Investing
Sonny Kalsi By application only for MSREDs
614 SCHERMERHORN
F 3 PM - 5 PM
SES B= 10/21-12/9
1.5 Points
41496
Pla6377‑1 Fall 2019
Funds Management and Capital Raising
Michael Clark, Marc Weidner RED ONLY
113 AVERY HALL
M 3 PM - 5 PM
SES A= 9/3-10/18
1.5 Points
41526
Pla6391‑1 Fall 2019
Residential Investment & Development
Joshua Kahr
209 FAYERWEATHER
M 1 PM - 3 PM
SES A= 9/3-10/18
1.5 Points
41368
Pla6568‑1 Fall 2019
Public-Private Partnerships in Real Estate Development
Mehul Patel
209 FAYERWEATHER
M 6 PM - 8 PM
FULL SEMESTER
3 Points
41424
Pla6569‑1 Fall 2019
Comparative Global Real Estate
William Heishman
209 FAYERWEATHER
M 4 PM - 6 PM
SES B= 10/21-12/9
1.5 Points
41534
Pla6595‑1 Fall 2019
Value of Design
James von Klemperer, Gene Kohn
113 AVERY
W 11 AM - 1 PM
SES B= 10/21-12/9
1.5 Points
41370
Pla6603‑1 Fall 2019
Lease Analysis & Financial Metrics
Sara Queen
113 AVERY
F 9 AM - 11 AM
SES A= 9/3-10/18
1.5 Points
41425
Pla6719‑1 Fall 2019
Building Adaptation and Reuse
Andy Golubitsky, Gabriel Randall
WARE LOUNGE
F 11 AM- 1 PM
SES B= 10/21-12/9
1.5 Points
41373
PLA6721‑1 Fall 2019
Development by Design
Eran Chen
209 FAYERWEATHER
M 9 AM - 11 AM
SES B= 10/21-12/9
1.5 Points
41428
PLA6722‑1 Fall 2019
Real Estate Private Equity - Acquisition Analysis
Jiho Lee MSRED ONLY
113 AVERY HALL
W 6 PM - 8 PM
SES A= 9/3-10/18
1.5 Points
41497
Pla6801‑1 Fall 2019
PropTech
Zachary Aarons
209 FAYERWEATHER
TU 1 PM -3 PM
SES A= 9/3-10/18
1.5 Points
10195
PLA6803‑1 Fall 2019
Real Estate Media and Marketing
Amir Korangy
209 FAYERWEATHER
TU 6 PM - 8 PM
SES B= 10/21-12/9
1.5 Points
10327
PLA6853‑1 Fall 2019
Joint RED_Arch Studio
Kate Ascher, Christoph Kumpusch
203 FAYERWEATHER
M 1:30 PM - 6:30 PM
FULL SEMESTER
4 Points
15299
A6708‑1 Fall 2019
Sustainable Retrofits
Michael Adlerstein
655 SCHER- CONSERVA LAB
W 11 AM- 1 PM
SESSION B
1.5 Points
41470
A4892‑1 Fall 2019
Data Visualization for Architecture, Urbanism and the Humanities
Jia Zhang All GSAPP Interdisciplinary
408 AVERY HALL
F 9 AM -11 AM
FULL SEMESTER
3 Points
15270
A4861‑1 Fall 2019
Footprint: Carbon and Design
David Benjamin
115 AVERY
TH 11 AM - 1 PM
FULL SEMESTER
3 Points
17879
A6783‑1 Fall 2019
Narrative Urbanism: Strategic Storytelling For Designers and Planners
Cassim Shepard All GSAPP Interdisciplinary
115 AVERY HALL
F 11 AM - 1 PM
FULL SEMESTER
3 Points
41474
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.
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