NE W YOR K UNI V ERS I T Y
SCHOOL OF CONTINUING AND PROFESSIONAL STUDIES
MASTER OF SCIENCE IN
REAL ESTATE
NYU SCHACK INSTITUTE OF REAL ESTATE
MASTER OF SCIENCE IN
REAL ESTATE
The real estate profession has become a global enterprise, with financing, joint ventures, and development projects conducted on an international scale. Recent market fluctuations and the everincreasing complexity of capital structures speak to the need for real estate professionals to diversify their skill sets. Today’s professionals continue to confront stringent challenges that demand the proper academic training and credentials to excel. The NYU Schack Institute of Real Estate is one of the world’s leading centers of learning and the premier institution in New York City serving the greater real estate and building industries. Academic preparation and credentials are prerequisites for success in a global profession affected daily by complex factors such as financial trends, political developments, and technological advancements. In response, the Institute offers the Master of Science in Real Estate. The program integrates theory with real-world application in all phases of the real estate deal—from initiating and negotiating to financing and closing the transaction.
AN EXCEPTIONAL DEGREE PROGRAM
The M.S. in Real Estate curriculum provides students with the fundamental knowledge and advanced analytical skills necessary for success in the real estate industry. Students master the fundamentals through a required core curriculum and choose the remaining courses from concentration areas and electives that match their goals. Topics range from market analysis to managing and owning properties. Because the curriculum undergoes constant evaluation, our faculty members are empowered to address current issues in their courses, keeping students abreast of today’s most critical industry developments. For more information on the M.S. in Real Estate curriculum, faculty, and events, visit www.scps.nyu.edu/msre.
IN AND OF THE CITY
The NYU Schack Institute of Real Estate is located in New York City at the heart of the world’s most closely watched real estate and construction market. Its programs capture the expertise and energy that drive our region’s place on the global stage. To combine the theoretical learning of the classroom with real-life experiences, students interact with industry leaders through internships, research, and a capstone project. On any given day, the Institute is a hub for industry activity and special events, including a speaker series, breakfast programs, lectures, and panel discussions. Graduate students have the opportunity to make use of NYU’s carefully maintained relationships with the industry and experience New York City as a living laboratory where they can hone their skills.
“The program’s stellar reputation among industry professionals and its prime location within one of the most active real estate markets in the world assured me that I would receive the necessary tools for success.”
Jason Morrison, alumnus, M.S. in Real Estate
NYU SCHACK INSTITUTE OF REAL ESTATE ADVISORY BOARD
The NYU Schack Institute of Real Estate owes its reputation to the quality and commitment of its industry support. Since 1967, a prestigious advisory board has been guiding the Institute in its activities. Members are prominent leaders of the real estate community from New York City and the national real estate arena. Board members review curricula, suggest new programs, organize and participate in conferences, raise funds, and support the Institute’s other public purpose activities. For more information on our distinguished board, visit www.scps.nyu.edu/realestate.
ABOUT THE NYU SCHOOL OF CONTINUING AND PROFESSIONAL STUDIES (NYU-SCPS)
The NYU Schack Institute of Real Estate is one of several comprehensive academic divisions within NYU-SCPS. Established in 1934, the School is one of NYU’s 14 schools and colleges dedicated to academic excellence and innovation. NYU-SCPS captures the expertise of key sectors where New York leads globally: Real Estate; Hospitality, Tourism, and Sports Management; Global Affairs; Philanthropy; Communications Media, Publishing, Digital Arts, and Design; Business, Marketing, and Finance; and the Liberal and Allied Arts, among others. Vibrant professional and academic networks attract full-time undergraduate and graduate students immersed in university life, working professionals in 14 graduate programs, and New Yorkers and visiting students of all backgrounds enrolled in 2,500 continuing education courses, certificate programs, conferences, and seminars annually. NYU-SCPS is widely considered to be the most complete example of NYU’s founding commitment to be “In and of the City”—and of the World.
M.S. IN REAL ESTATE CURRICULUM
The M.S. in Real Estate is a 42-credit program that can be completed in two years of full-time study or up to five years of part-time study. The program consists of a required three-tiered core curriculum designed to provide a broad foundation for the entire discipline. Students then select one of three concentrations: Finance and Investment, Development, or Strategic Real Estate Management. The program is rounded out by two elective courses to broaden students’ understanding of a related area. A capstone course, the equivalent of a master’s thesis or comprehensive exam, is the culminating experience of the program and reflects in-depth knowledge of a particular area or aspect of the industry.
“The Institute grows root and branch from the industries it serves, and New York City is a global financial center. That is the secret of our success.”
D. Kenneth Patton, divisional dean, clinical professor, and Klara and Larry Silverstein Chair, NYU Schack Institute of Real Estate
The curriculum is frequently updated to ensure that students learn at the leading edge of this dynamic field. For the latest information, visit www.scps.nyu.edu/msre.
CORE COURSES
TIER ONE
Principles of Real Estate Accounting and Taxation Legal Principles and Practices Real Estate Economics and Market Analysis Real Estate Finance
TIER TWO
Real Estate Valuation and Feasibility Analysis The Development Process Corporate Finance Negotiation and Dispute Resolution
TIER THREE
Real Estate Capital Markets
CONCENTRATIONS (CHOOSE ONE)
FINANCE AND INVESTMENT
Real Estate Finance and Investment Analysis Risk and Portfolio Management Applied Project in Finance and Investment
DEVELOPMENT
Planning and Design Issues in Development Land Use and Environmental Regulation Applied Project in Development
STRATEGIC REAL ESTATE MANAGEMENT
Strategic Real Estate Management Commercial Lease Analysis Applied Project in Strategic Real Estate Management
ELECTIVE COURSES
Select two courses from the list below, from a course within another concentration in this program, or, with permission from the program director, from a course in the M.S. in Construction Management.
Affordable Housing Development Analyzing REIT Securities Federal Taxation for Real Estate Investment Managing Building Systems and Operations Advanced Seminar in Real Estate Finance Analytical Techniques in Real Estate Investment Analysis Seminar in Community Development Advanced Real Estate Development Practices Derivatives and Real Estate Investing
CAPSTONE COURSE
GRADUATE CERTIFICATE IN REAL ESTATE
The Graduate Certificate in Real Estate accommodates the needs of two kinds of students: those who have earned a bachelor’s degree and wish to obtain a foundation in real estate without committing to a master’s program and those who hold a graduate degree but wish to pursue a new specialization in the real estate industry. The Graduate Certificate consists of a subset of courses in the master’s degree program that corresponds entirely to the first six courses of the core curriculum. The majority of students in the certificate program transfer into the degree program.
These six courses may be completed in two semesters:
Principles of Real Estate Accounting and Taxation Legal Principles and Practices Real Estate Economics and Market Analysis Real Estate Finance Real Estate Valuation and Feasibility Analysis The Development Process
A COMMUNITY OF SCHOLARS AND PROFESSIONALS
With the largest international student population of any university in the country and a faculty that represents a similar diversity in background and education, NYU’s classrooms come alive with cultural, professional, and intellectual discourse. While most of the students in the M.S. in Real Estate already work in the industry, others come from related professional backgrounds, including finance, insurance, engineering, and architecture. The high level of scholarship experienced in the classroom is the product of a world-class faculty. With prominent professionals teaching and actively participating on our advisory board, the Institute maintains seamless relationships with the real estate industry. Take a look around New York City—and the world—and the work of our faculty is on display. Among our instructors are individuals who are recreating the city’s skyline and vistas around the globe, putting up new residential and commercial buildings, renovating bridges and subways, developing shopping centers and housing complexes, and constructing schools, hotels, airport terminals, and art centers.
PROSPECTS FOR GRADUATES
Graduates of the NYU Schack Institute of Real Estate leave with an industry-specific education that prepares them for the top echelon of the field. Our alumni have assumed leadership positions in all aspects of the industry, including full-service brokerage and advisory firms, Wall Street investment houses, owner/development companies, property and asset management companies, corporate real estate divisions, real estate capital groups, and entrepreneurial ventures. The Master of Science Alumni Association is an extensive global network of mid- and senior-level professionals. There are close to 2,000 members of the Association located in the New York metropolitan area, throughout the U.S., and around the world. The Alumni Association hosts a variety of events, including the Annual Evening of Monopoly® each fall, the major fundraiser for its scholarship program. In addition, the Alumni Association sponsors an annual Career Information Night that provides current students the opportunity to meet members and to explore various opportunities within the real estate and construction industries. The Alumni Association also sponsors an annual Career Fair that consistently draws over 100 firms from both the real estate and construction industries.
NETWORKING AND PROFESSIONAL EVENTS
A variety of events—including a lecture series and roundtable discussions presented by industry executives—provide opportunities for students to meet alumni, develop insight into other aspects of the industry, and cultivate a network of colleagues. They are also invited each year to attend Institute-sponsored national conferences, including the Real Estate Capital Markets Conference and the REIT Symposium. These events feature distinguished real estate leaders from the nation’s top firms as they examine current trends and share insights and strategies.
“The interplay between the scholarly lesson and the practical example gives students the best of both worlds.”
Robert S. Blumenthal, managing director, Deutsche Bank Securities, Inc., real estate investment banking; adjunct professor, M.S. in Real Estate
ADMISSION
Applicants should have more than two years of work experience in real estate, but can come from a variety of professional backgrounds, including financial services, economics, law, and architecture. For detailed information on admission requirements and application deadlines, or to apply online, visit www.scps.nyu.edu/gradadmissions or call (212) 998-7100.
FINANCIAL AID
Aid for graduate students at NYU-SCPS is available in many forms. Fellowships, merit scholarships, and loans are based on financial need, academic merit, or both. We work with members of the lending community to provide qualified students with low-interest education loan options, including loans for international students. It is recommended that students file for aid as early in the admissions process as possible. Decisions on financial aid are made after admission to NYU. For more information on financial aid opportunities and deadlines, visit www.nyu.edu/financial.aid.
THE NYU SCHACK INSTITUTE OF REAL ESTATE: 40 YEARS AT THE FOREFRONT OF THE INDUSTRY
The NYU Schack Institute of Real Estate is a seminal force providing the real estate and construction industries with well-educated, skilled professionals. The quality experienced in the classroom is a product of a world-class faculty and advisory board, leading practitioners who draw their expertise from the real estate and construction industries in New York City—one of the world’s most dynamic and sophisticated real estate markets. The Institute offers a range of programs including: • Master’s degrees and graduate certificates in Real Estate and Construction Management • Professional certificates and more than 500 continuing education courses and seminars annually, created in close cooperation with the industry • A variety of special events, including speaker series, breakfast programs, lectures, and panel discussions • National conferences on Capital Markets (fall) and REIT Mergers and Acquisitions (spring), featuring distinguished speakers who offer their professional expertise and predictions in real estate market trends For more information about the NYU Schack Institute of Real Estate, call (212) 998-7171 or visit www.scps.nyu.edu/realestate.
NEW YORK UNIVERSITY
A private university in the public service
School of Continuing and Professional Studies Office of Student Enrollment Services 145 Fourth Avenue, 2nd Floor New York, NY 10003
For more information visit:
www.scps.nyu.edu/msre