Program Overview

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Master of Science in Real Estate

The NYU SPS Schack Institute's MS in Real Estate (MSRE) delivers a flexible graduate degree program that immerses students in New York Cityand prepares them to enter the field anywhere in the world.

Program Overview

Taught by top real estate professionals, the program develops expertise in finance, investment, and asset management. Students gain hands-on experience in market analysis, capital trends, policy, property management, and managing a student-run Real Estate Investment Trust (REIT). They have opportunities to network with business experts and future leaders.

Tuition and Credits

• Tuition: $2,785 per credit
• Total credits: 42 credits
• Tuition per term (10-12 credits): $27,562

Study Options

• Online: may be completed 100% online
• Hybrid: choose a mix of online and onsite courses
• Onsite: all courses onsite
• Full-time | Part-time options available
• Minimum duration: 18 months

Career Outlook

• Job growth: 8%
• Median salary: $80,300
• Percentage of alumni working and/or in school: 95%
• Number of Schack Institute of Real Estate alumni: 7,493

Why This Degree?

Real Estate Market Exposure and Immersion

Visit real estate offices, meet with investors, developers, and leaders, and discuss their capital strategies, financing, and real estate development projects.

Expert Faculty and Industry Partners

Our faculty of real estate professionals and industry partners enable students to have a positive impact on the real estate world.

Global Perspective

Our students stand out in the job market with a critically important understanding of real estate conditions around the world.

Alumni Everywhere You Look

Students won't have to search long to find esteemed NYU School of Professional Studies Schack alumni, who are working at prominent firms and ready to help build lifelong connections.

Industry-specific Skills and Experiences

Students learn real estate finance, development, and management in the classroom, in the field, and at industry events.

Support for Your Success

Flexible schedules, low 8:1 student/faculty ratio, academic and career advising, student clubs, and publications set our real estate students up for the future.

What You'll Study

Core Curriculum

Our professors provide students with a theoretical foundation backed with practical experience in courses like real estate finance, urban real estate economics, law, development, and risk and portfolio management.

Electives

The real estate market is diverse, and students take time to explore areas that interest them most, such as private equity, data analytics, asset management, and more.

Specializations

Students choose the path they want to further study in greater depth, with focuses on Finance and Investment or Asset Management.

Thesis or Capstone

Our capstone courses transition students from classroom to "boardroom," applying their work to real-world scenarios and projects.

Where You'll Go

Where Our Alumni Work

• Arbor Realty Trust
• Ackman-Ziff Real Estate Group
• AvalonBay Communities
• Blackstone Group
• BNY Mellon
• Bozzuto
• Brookfield Properties
• CBRE
• Colliers International
• The Douglaston Companies
• The Durst Organization
• Extell Development
• Jonathan Rose Companies
• Kushner
• MetLife Management
• PGIM Real Estate
• Related Group
• Silverstein Properties
• SL Green Realty
• Time Equities

What Our Alumni Do

• Asset and Portfolio Management
• Acquisitions
• Commercial Real Estate Lending
• Financial Analysis
• Investment Management
• Market Analytics Director
• Project Management
• Property Management
• Risk Management & Compliance
• Commercial Underwriting

Application Deadlines

Summer 2026 Deadlines

• Priority: October 1, 2025, Decision Release: December 15, 2025
• Regular: January 15, 2026, Decision Release: March 1, 2026
• Final: March 15, 2026, Decision Release: April 15, 2026

Fall 2026 Deadlines

• Priority 1: November 1, 2025, Decision Release: December 15, 2025
• Priority 2: January 15, 2026, Decision Release: April 1, 2026
• Regular: May 1, 2026, Decision Release: June 15, 2026
• Final: July 1, 2026, Decision Release: July 15, 2026

Spring 2027 Deadlines

• Priority: August 1, 2026, Decision Release: October 15, 2026
• Regular: October 1, 2026, Decision Release: November 15, 2026
• Final: November 15, 2026, Decision Release: December 20, 2026

The Hirsh Fellows Program

A one-year immersion program for exceptional students, enrolling 15-20 MS in Real Estate students for intensive immersion in Real Estate Finance and Investment.

Real World Experiences

Real Estate Investment Trust (REIT) Investment Fund

Schack's REIT fund is student-run, giving students direct experience overseeing a real securities portfolio, analyzing financials, and making real-time investment decisions.

Center for Sustainable Built Environment

This Center seeks to advance best practices for sustainability across disciplines that touch commercial real estate development and construction.

Global Field Intensives: Kenya

Explore Nairobi, Kenya, and learn about its history, traditions, future development, social impact, and real estate market.

Alumni and Faculty

Alumni Stories

Schack Institute of Real Estate graduates build careers in every corner of the real estate business, unlocking potential for their companies and ensuring successful futures.

Faculty Stories

Experienced, industry-connected faculty bring real-world insights to NYU SPS classrooms and programs, continually inspiring and motivating students.

Frequently Asked Questions

Why choose an MS in Real Estate over an MBA?

Earning an MS in Real Estate from the Schack Institute gives students the edge needed to break into the commercial real estate business, with industry leaders preferring the specialized degree.

Is earning an MS in Real Estate worth it?

The program provides academic coursework that encompasses the spectrum of skills needed by new-entrants to real estate, as well as those more advanced in their careers.

Why earn a master's degree in New York City?

Earning a master's degree in real estate in New York City provides incredible resources and the ability to network with some of the largest real estate and real estate investment firms in the world.

Is commercial real estate a good industry to work in these days?

Commercial real estate is experiencing significant secular shifts, spurring innovation and bringing opportunities.

Why choose a career in commercial real estate?

Commercial real estate is a rewarding and challenging career, with endless opportunities in planning, finance and investment, development, property management, capital markets, and portfolio analysis.

What can I do with an MS in Real Estate?

Schack Institute of Real Estate alumni take their places in leading firms in all sectors of the industry, in New York City and around the globe, with a network of relationships and prepared to tackle challenges and thrive in their careers.