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Graduate Certificate in Real Estate Development Course Descriptions

REI NYC Aerial Cityscape

The required and elective courses of the Graduate Certificate in Real Estate Development are designed to ensure that every graduate has a grasp of the essential elements of the real estate development process and the specialized legal, physical, analytical and project management concepts and skills required in the multidisciplinary, creative and entrepreneurial world of real estate development.

Required Courses

The 9-credit core curriculum is designed to give students an in-depth mastery of the phases of and the activities performed during the real estate development process including conceptualization, site acquisition, planning, feasibility analysis, design, construction, financing, leasing and asset management. Students are required to complete all 3 courses in the core.

The Real Estate Development Process REAL5104
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. Leadership, management, and control of the development team are featured issues.

Real Estate Development Feasibility Study REAL6002
This course examines the components of a real estate development feasibility study report. Students refine leadership, team and presentation skills to deliver a comprehensive and persuasive report on a currently available real estate project.

Real Estate Asset Management REAL5106
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. Students examine acquisitions, leasing, operations, budgets, capital expenditures, repositioning, refinancing, dispositions and distressed and foreclosure workouts using financial modeling, underwriting, risk analysis, and performance benchmarking concepts and tools. The decision-making process will be examined from the property, asset, and portfolio management perspectives.

Elective Courses

The 6-credit elective course requirement offers students the opportunity to immerse themselves in specialized topics of their choice.

Land Use Law REAL6014
Real estate development is profoundly impacted by land use law and environmental regulations. A successful developer must navigate through land use controls, federal, state and city environmental regulations, landmark and historic preservation restrictions and community concerns, in addition to building and fire codes and other safety regulations.

Adaptive Reuse and Sustainability REAL6004
Utilizing sustainable principles and building practices, this comprehensive course challenges students to think critically about reusing existing building stock and maintaining historic structures. It encourages adaptive reuse by owners and developers entering the design review process. The goal is to help developers think critically about the opportunities presented by adaptive reuse.

Development Project Leadership, Management, and Communications REAL6006
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. Become acquainted with different types of reporting, and learn best practices and tools needed to improve performance, standards and timely project delivery.

Affordable Housing REAL6008
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. Students learn from a combination of formal lectures and interviews with past and current industry participants and leaders. The focus of the course is to examine the multiple factors that must be addressed in the planning and execution of affordable housing projects.

Development Project Finance REAL6010
In this course, students acquire best practiecs for submitting a loan request to a lender for interim construction loan project financing, long-term permanent "take-out" financing and mini-perm financing. Students will become familiar with the presentation of project pro forma, construction loan types, the requirements of a development team, the lender’s credit criteria, the loan proposal, hard and soft cost budgets, valuation, project feasibility and documentation. 

Internship REAL6020

Special Topics in Real Estate REAL6022
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. Areas of study will include real estate finance, investment and development. In most cases, they will be of interest to those students who desire a more intense exposure to a particular field of study. Recent course offerings of special topics discussed private equity structures, socially responsible investing in real estate, and design issues in real estate development.