Program Overview

Overview of the Master of Science in Real Estate Development Program

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.

Program Structure

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. 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 semester grants more space to focus on the development of specific industry interests.
• The third semester consists mostly of deep-dive electives offered across GSAPP, Columbia Business School, Columbia School of International and Public Affairs, and Columbia Law School.

Capstone Project

The program culminates in a final Capstone project. The 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.

Curriculum

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.

Courses

The following courses are part of the Fall 2025 curriculum:

• PLAN4312-1: Real Estate Finance II: Case Studies
• PLAN4326-1: Real Estate Excel Modeling Tutorial II
• PLAN4539-1: The Development Process: Deal Structuring
• PLAN6050-1: Internship
• PLAN6212-1: Affordable Housing, Development and Policy
• PLAN6252-1: Architect and Developer Dialogues
• PLAN6259-1: Capital Markets: REIT Analysis
• PLAN6265-1: Underwriting
• PLAN6281-1: Hotel Development and Investment Analysis
• PLAN6377-1: Funds Management and Capital Raising
• PLAN6392-1: The Development Process: Integrative Design
• PLAN6603-1: Lease Analysis & Financial Metrics
• PLAN6719-1: Building Adaptation and Reuse
• PLAN6721-1: Design by Development: Possibilities of Form
• PLAN6840-1: Real Estate Valuation & Investment Analysis
• PLAN6873-1: Financial Modeling Case Studies
• PLAN6892-1: Multifamily Site Analysis and Valuation
• PLAN8792-1: Individual Research

Faculty

The program has a diverse faculty with expertise in various areas of real estate development, including:

• Adam Lubinsky, Interim Program Director
• Rebecca Andersen Polimeda, Associate Director, Professional Development & Student Engagement
• Hera H. Suh, Associate Director, Academic Affairs
• Thelma Collado, Assistant Director
• Zachary Aarons
• Michael Adelstein
• Mitchell Adelstein
• Shaishav Agarwal
• Shawn Amsler
• Eric Andersen
• Kate Ascher
• Ellen Baer
• Forth Bagley
• Alex Barrett
• Nathalia Bernardo
• Masood Bhatti
• Christina Bicks
• Stuart Brodsky
• Eran Chen
• Matthew Choi
• Michael Clark
• Brandon Cook
• Fred Cooper
• Daniel Crowley
• Johnny Din
• David Dishy
• Adam Feil
• Beth Finley
• Merrie Frankel
• Robert Garneau
• Rani Gharbie
• Martin Gold
• Andy Golubitsky
• Juan Felipe Herrera Quiroz
• Joshua Kahr
• Cecily King
• Paula Kirby
• Amir Korangy
• David Kruth
• Jiho Lee
• Chok Lei
• Richard Leland
• Jose Lievano
• Brian Loughlin
• Adam Lubinsky
• John Lyons
• Brooks McDaniel
• Jonathan Miller
• Chris Munsell
• Haig Nazarian
• Mitchell Nelson
• Mehul Patel
• Jake Pesci
• Ed Poteat
• Sara Queen
• Raquel Ramati
• Gabriel Randall
• Ryan Severino
• Shai Shamir
• Andrew Smyth
• Leeza Springer
• James von Klemperer
• Paul Weech
• Marc Weidner
• Robert Wertheimer
• Phil Wharton
• Jay Yang

Events

The program hosts various events, including:

• MSRED Lunchbox Lecture: Sam Robinson (The Kraft Group)
• MSRED Architect-Developer Dialogue: Steven Holl & Petri Ylivuori
• Columbia University MSRED Alumni Mixer & Mentorship Cocktail Reception
• MSRED Architect-Developer Dialogue: Sam Alison-Mayne + Florian Idenburg (Tankhouse | SO - IL)
• 2025 Columbia GSAPP Real Estate Development Conference
• Columbia GSAPP Real Estate Development Summer Social
• MSRED Alumni June Happy Hour
• Winkelman Real Estate Lecture
• MSRED Alumni Connections in Seoul
• MSRED Alumni-Student Mixer & Mentorship Cocktail Reception
• Property Technology Demo Day
• Stop Go Pivot
• The Impact of Redlining on Black Americans
• Addressing Systemic Racism in Real Estate
• MS Programs Admissions Open Session
• Careers in affordable housing
• Affordable Housing Agenda for 2021
• Preserving Public Housing: Successes, Challenges and Lessons Learned
• The impact of Covid-19 on affordable housing in NYC
• Racial Justice, Fair Housing, and Affordable Housing in the Current Environment
• Real Estate Development Career Fair
• M.S. RED Online Info Session
• Prospective Student Open House
• 2019 MSRED Conference
• The Redevelopment of Times Square w/ Marty Gold
• MSRED Alumni June Happy Hour
• The Well-Tempered City
• Better Development
• Vitalizing the Urban Environment
• Jane Jacobs’ Influence on Urban Development - Value at the Street
• CURE. Climate: 2016 Severe Convection and Climate Workshop
• Past is Prologue: 100 Years of Zoning
• Distributive Property
• FormForward 2017: Technology for the Built Environment
• MIPIM Cannes 2017 Reception
• Community Engagement
• REITs
• Design Issues & Development
• Entrepreneurship
• Innovative Developers
• M.S. RED Alumni Fall Reception
• Real Estate Development (RED) Roundtable: Young Guns in Development
• Real Estate Tech Unbundled
• Private Equity
• Hospitality
• 2016 North American Symposium on Climate Change Adaptation
• Public-Private Partnerships in NYC: A Real Estate Symposium
• Durst Conference 2016: New Typologies of Real Estate Development
• End of Year Show Opening

Publications

The program is associated with various publications, including Columbia Books on Architecture and the City.

Application Details

The application deadline for the Master of Science in Real Estate Development program is January 15, 2026. The program also offers an early action deadline of December 15, 2025, with a first round of decisions to be released before the end of January, 2026. This initiative is specifically designed to support incoming students with additional time to prepare for the Summer semester beginning on May 26, 2026.

Contact

For more information on the program, please note that contact details are not provided in this format.

Conclusion

The Master of Science in Real Estate Development program at Columbia University offers a comprehensive education in real estate development, with a focus on the financial, physical, and social aspects of the field. The program is designed to provide students with a deep understanding of the industry and prepare them for successful careers in real estate development. With its diverse faculty, rigorous curriculum, and strong industry connections, the program is an excellent choice for those looking to pursue a career in this field.