Program Overview

Real Estate Program

The Real Estate program offers a comprehensive range of courses that cover various aspects of the real estate industry. The program is designed to provide students with a thorough understanding of the principles, concepts, and practices of real estate, including real estate law, economics, finance, accounting, and management.

Course Descriptions

• REAL 1002: Fundamentals of Real Estate Law: This course introduces the legal concepts, laws, regulations, and risks involved in the acquisition, development, financing, leasing, and sale of real property.
• REAL 1004: Principles of Real Estate Economics: This course discusses the economic reasons for the growth and decline of real estate markets, along with the economic basis for location decisions by residential and commercial owners and tenants.
• REAL 1006: Real Estate Accounting Essentials: This class introduces general financial accounting principles, concepts, and rules, as established by U.S. Generally Accepted Accounting Principles (GAAP) and the International Financial Reporting Standards (IFRS).
• REAL 1008: Principles of Real Estate Finance: This course offers students a comprehensive orientation to how residential and commercial properties are financed and analyzed.
• REAL 1010: Principles of Real Estate Valuation and Feasibility: This course introduces the theory, principles, and techniques for conducting valuation and feasibility studies of real property.
• REAL 1020: Real Estate Development Principles and Practices: This course presents a step-by-step examination of the real estate development process from idea conception to project completion.
• REAL 1999: Tutorial: Tutorial.
• REAL 2002: Real Estate Financial Modeling: This course provides students with a fundamental understanding of the essential Time Value of Money (TVM) concepts and calculations employed in common real estate financial models and investment analyses.
• REAL 2004: Real Estate Management: This course introduces students to the core competencies and specialized skills needed to professionally plan and manage residential multifamily buildings, commercial office buildings, and corporate workspace for real estate owners, businesses, and third-party management companies.
• REAL 2006: Global Real Estate Markets: This course introduces students to real estate markets and investment activity beyond the U.S. border.
• REAL 2008: Building Design and Construction: This course provides an overview of the design and construction process for residential and commercial real estate assets.
• REAL 2010: Special Topics in Real Estate: These courses, which will be offered periodically, are designed to enhance the student's educational experience by supplementing the standard array of courses with topics that are very highly specialized.
• REAL 3100: Internship: This course is intended for students who have secured an internship and intend to obtain credit.
• REAL 3999: Independent Study: Independent Study.
• REAL 4999: Tutorial: Tutorial.
• REAL 5002: Real Estate Finance: This course covers the principles of commercial real estate finance including valuation methodologies, income and expense analysis, derivation of capitalization rates, concepts of commercial leasing, forms of debt and equity, valuation of land and key principles of construction loan finance.
• REAL 5004: Real Estate Accounting and Tax: This course covers accounting concepts, rules, regulations, and reporting requirements for income-producing properties; tax tools for financial statements and real estate investments; accounting principles and income tax analysis for decision-making; and accounting and tax implications of real estate ownership structures and real estate transactions.
• REAL 5006: Real Estate Legal Concepts and Contracts: This course provides an overview of the typical, major legal agreements that are involved with every commercial real estate transaction.
• REAL 5008: Real Estate Economics and Market Analysis: This course discusses economic base analysis, macroeconomic factors influencing metropolitan areas and links connecting economic fundamentals to property market performance.
• REAL 5010: Real Estate Structures and Capital Markets: The course covers the structure and operation of public and private, debt and equity real estate capital markets and the means by which this capital is channeled into commercial real estate to finance local transactions.
• REAL 5012: Real Estate Valuation and Investment Analysis: Students in this course evaluate a range of investment opportunities in commercial real estate from the perspective of the investor (equity) and the lender (debt).
• REAL 5014: Negotiation and Ethics: This course introduces negotiation techniques and strategies along with a strong foundation in ethical issues.
• REAL 5016: Ethical Issues in Real Estate: Students in this course study how ethics are considered from various points of view: historically, relationally and transactionally.
• REAL 5050: Construction Contracts, Claims, and Dispute Resolution: This course examines the essential elements of commonly used contracts, including the rights, duties, and obligations of the owner and contractor.
• REAL 5051: Advanced Construction Contracts, Claims, and Dispute Resolution: This course provides students with a comprehensive examination of the commonly used contracts in the construction industry, including the rights, duties, and obligations of the owner and contractor.
• REAL 5052: Construction Financial Management: The general objectives of this course are for students to gain a comprehensive understanding of the key factors of effective construction financial and cost control.
• REAL 5053: Construction Safety: This course examines the role of worker and public safety management in construction projects and company success.
• REAL 5054: Construction Cost Estimating and Bidding Strategies: This course will expose students to the theory, processes, and practices to prepare construction cost estimates and final project bids.
• REAL 5055: Business Development: This course examines business development principles and practices for construction management professionals to grow the prospect base and gain business for the construction firm.
• REAL 5056: Construction Scheduling and Impact Analysis: This course will expose students to a variety of network-based scheduling principles and tools including advanced Critical Path Method (CPM) construction scheduling techniques and the Precedence Diagramming Method (PDM).
• REAL 5058: Pre-Construction Project Planning and Development: Pre-construction project planning and development efforts play a key role in the overall success of a project, providing an opportunity for discovery, risk assessment, and strategic planning.
• REAL 5060: Construction Project Delivery: This hands-on, applied course will discuss and employ best practices for construction project administration and execution.
• REAL 5102: Real Estate Risk and Portfolio Management: This course discusses the theory and principles of investments and portfolio management.
• REAL 5104: The Real Estate Development Process: This course provides a practical analysis of the phases of the real estate development process including conceptualization, site acquisition, planning and design, construction, financing, leasing and marketing.
• REAL 5106: Real Estate Asset Management: Students learn how to develop an investment strategy and an actionable asset management plan based on that strategy for increasing the value of real estate assets under management on behalf of ownership.
• REAL 5108: Real Estate Credit Analysis and Underwriting: Students learn how to underwrite and structure commercial real estate (CRE) loans for the acquisition, development and construction of income-producing properties.
• REAL 6001: Real Estate Financial Modeling: Students gain a comprehensive understanding of real estate financial modeling principles and practices to prepare models for income and expense presentation and analysis, direct capitalization, and discounted cash flow (DCF) analysis.
• REAL 6002: Real Estate Development Feasibility Study: This course examines the components of a real estate development feasibility study report.
• REAL 6003: Private Equity: In this course, students develop an understanding of the taxonomy of different real estate private equity strategies, including core, core plus, value-add, and opportunistic.
• REAL 6004: Adaptive Reuse and Sustainability: Utilizing sustainable principles and building practices, this comprehensive course challenges students to think critically about reusing existing building stock and maintaining historic structures.
• REAL 6005: Commercial Mortgage-Backed Securities: In this course, students learn the history, structure, and key building blocks (commercial real estate loans) of commercial mortgage-backed securities (CMBS), as well as the transaction, ratings, and offering process.
• REAL 6006: Development Project Leadership, Management and Communications: Gain essential leadership, management and reporting skills and strategies to effectively control the design and construction process, ensuring that every decision is made in the owner's best interest.
• REAL 6007: Real Estate Investment Trusts: Students gain an understanding of the history, operations, and mechanics of REITs, and how REITs are an important link between the real estate capital markets and the property markets.
• REAL 6008: Affordable Housing: In this course, students acquire an understanding of the history and current state of affordable housing in the US in general and NYC in particular.
• REAL 6009: Commercial Leasing: This course will cover all aspects of commercial leasing as it relates to office buildings, retail spaces and industrial properties.
• REAL 6010: Development Project Finance: This course presents the principles of development project finance.
• REAL 6011: Building Systems, Operations, and Maintenance: This course is designed to provide a technical baseline—a working knowledge—of the key building systems and infrastructure commonly found in commercial offices and large residential buildings.
• REAL 6012: Global Real Estate Investment: This course provides a comparative and critical approach to undertaking international real estate transactions, investments and development projects by providing a framework for analyzing real estate investments across borders within specific markets.
• REAL 6013: Real Estate Management: This course introduces students to the core concepts, key terminology, and specialized competencies and skills needed to professionally plan and manage commercial real estate and corporate workspace for real estate owners, for-profit and not-for-profit businesses, and third-party management companies.
• REAL 6014: Land Use Law: Real estate development is profoundly impacted by land use law and environmental regulations.
• REAL 6015: Planning and Design for Development: This course presents strategies for optimizing and managing the design phase when undertaking a real estate development project.
• REAL 6016: Real Estate Entrepreneurship Business Planning: This course integrates the concepts, tools and practices of entrepreneurship.
• REAL 6018: Real Estate Technology: This course examines the rise of technological applications to collect data and the potential power of employing advanced data analytics to support new hypotheses regarding real estate investments; development opportunities; property operations; construction projects; and environmental, social, and governance (ESG) compliance requirements.
• REAL 6020: Internship: Internship.
• REAL 6021: Special Topics in Construction: This course, which will be offered periodically, is designed to enhance the student's educational experience by supplementing the standard array of courses with topics that are very highly specialized.
• REAL 6022: Special Topics in Real Estate: These courses, which will be offered periodically, are designed to enhance the student's educational experience by supplementing the standard array of courses with topics that are very highly specialized.
• REAL 6024: Construction Quality Control Quality Assurance: This course explores the essential elements of quality management principles, planning concepts, and techniques employed in the management of construction projects.
• REAL 6026: Advanced Construction Scheduling: This course is designed to provide a deeper understanding of the construction scheduling and schedule management techniques covered in the core course Construction Scheduling and Impact Analysis (REAL5056).
• REAL 6051: Advanced Construction Methods and Materials: This course provides a comprehensive examination of the latest methods, materials, and systems used in the construction of the core and shell and interior components of high-rise buildings.
• REAL 6100: Applied Project: The Applied Project capstone course provides for a comprehensive application of core, flex core and elective course principles, concepts, and professional practice to real world real estate investment projects.
• REAL 6200: Research Project (Thesis): Students work with a qualified supervisor to conduct research, collect data, analyze, test their hypotheses and write up their findings.
• REAL 6300: Applied Project: This capstone course provides students with the opportunity to demonstrate their professional-level mastery of the subject matter covered in the prior construction management courses by delivering a real‐world response for a construction project Request for Proposal (RFP) or proposal solicitation under the guidance of a faculty member or members.
• REAL 6400: Real Estate Development Applied Project: This course provides students with the opportunity to synthesize a hypothetical real estate development project under the guidance of a faculty member.
• REAL 8999: Independent Study: Independent Study.