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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. Approximately a third of individuals in the program complete a part-time spring internship to gain additional work experience in NYC.

Contact

For more information on the program, please email Jessica Stockton King or call (212) 854-3524

For more information about Career Services, Industry Outreach & Placement, please email Rebecca Andersen Polimeda.

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
Stephen Lefebvre
Roger Nussenblatt
Gregory Pietrycha
C. Marisa Rodriguez
Rosemary Scanlon
Margaret Streicker-Porres
Meghan Taylor-Steshyn
James von Klemperer
Robert Wertheimer

Summer 2022 Courses

Course Semester Title Student Work Instructor Syllabus Requirements & Sequence Location & Time Session & Points Call No.
Pla4310‑1 Summer 2022
Real Estate Finance I
Patrice Derrington
113 AVERY
M 9 AM - 11:30 AM
FULL SEMESTER
3 Points
12443
PLA4311‑1 Summer 2022
Real Estate Finance Concepts Tutorial
113 AVERY
TH 6:30 - 8:30 PM
FULL SEMESTER
0 Points
12444
Pla4321‑1 Summer 2022
Real Estate Finance Tutorial
Johnny Din
113 AVERY
TH 4:15 PM - 6:15 PM
FULL SEMESTER
0 Points
12445
Pla6050‑1 Summer 2022
Internship
Rebecca Andersen Polimeda 12022
PLA6350‑1 Summer 2022
Design for Development
Adam Lubinsky
113 AVERY
W 6 PM - 8 PM
FULL SEMSTER
3 Points
12447
Pla6352‑1 Summer 2022
Market Analysis
Patrice Derrington
113 AVERY
TH 11 AM - 1 PM
SES B
1.5 Points
12448
PLA6354‑1 Summer 2022
Political Environment of Development
Kate Ascher
113 AVERY
TU 11 AM - 1 PM
FULL SEMESTER
3 Points
12449
Pla6376‑1 Summer 2022
The Dealmaking Process
Mitchell Adelstein
113 AVERY
M 4 PM - 6 PM
SES B (6/27, 7/11-8/8)
1.5 Points
12450
PLA6753‑1 Summer 2022
Affordable Housing in the United States: Policy and Practice
Paul Weech
209 FAYERWEATHER
TU 9 AM - 11 AM
SES B
1.5 Points
12451
Pla6793‑1 Summer 2022
The Business of Development
Shai Shamir
113 AVERY
W 9 AM - 11 AM
SES A
1.5 Points
12452
PLA6802 Summer 2022
Environmental Sustainability
113 AVERY
TH 9 AM - 11 AM
SES A
1.5 Points
12453
Pla6835‑1 Summer 2022
Intro to Capital Markets
Merrie Frankel
113 AVERY
TH 2 PM - 4 PM
SES B
1.5 Points
12454
PLA6840‑1 Summer 2022
Real Estate Investment Analysis
Clarence Radin
113 AVERY
TU 6:30 PM - 8:30 PM
SES B
1.5 Points
12455
PLA6888‑1 Summer 2022
Real Estate in the Sharing Economy
Joshua Kahr
113 AVERY
M 1 PM - 3 PM
6/27, 7/11-8/8
1.5 Points
12456
PLA6894 ‑1 Summer 2022
Intro to ESG in Real Estate
Kate Ascher
113 AVERY
TU 2 PM - 4 PM
FULL SEMESTER
3 Points
12502
Pla8792‑1 Summer 2022
Individual Research
Jessica Stockton King 12023
Pla6330‑1 Summer 2022
Site Planning for Development
Adam Lubinsky RED - REQUIRED
113 AVERY
W 3 PM - 5 PM
FULL SEMESTER
3 Points
12446

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.