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Learn about the Real Estate Concentration

Stern’s undergraduate specialization in real estate provides rigorous theoretical and practical training across the breadth of institutional commercial real estate activities, including:

  • Real estate finance and capital markets, including financial instruments where real estate serves as the underlying asset, such as Real Estate Investment Trusts (REITs), residential and commercial mortgage-backed securities (RMBS and CMBS), and related derivative and structured finance products;
  • Real estate property, portfolio, and fund valuation and investment analysis;
  • Real estate development and project entrepreneurship;
  • Real estate data analytics, innovation, and technology-driven change;
  • Global real estate markets and cross-border development, investment, and finance; and,
  • The economic, legal, tax, and regulatory environments of real estate investment.

Foundational courses drawn from across Stern’s departments address real estate primary markets, real estate capital markets, real estate investment strategies, development and entrepreneurship, and real estate data science. A unique global real estate markets course offers students the opportunity to travel abroad for an immersive learning experience in a major real estate market outside the United States. Issues related to sustainability deeply inform both curricular and co-curricular offerings.

In addition to coursework, students specializing in real estate have access to a remarkable array of industry engagement, research, and skill-building opportunities through the Chao-Hon Chen Institute for Global Real Estate Finance and participation in the Stern Undergraduate Real Estate Club.

Through a carefully selected set of core and elective courses, the specialization prepares undergraduate students for careers in real estate development and investment, real estate finance in the fixed income or equity desks of investment banks (research, sales, and trading), hedge funds, and sovereign wealth funds, private equity and credit, and a wide range of other paths.

Real Estate Concentration Requirements

To declare a concentration in Real Estate, you must fill out the concentration declaration form on Stern Life.

Required Functional Business Core Course:

  • Foundations of Finance (FINC-UB 2)

You are required to complete 12 credits of upper-level Real Estate courses that consist of:

  • Real Estate Capital Markets (FINC-UB 38)
  • Real Estate Primary Markets (FINC-UB 39)
  • Two (2) additional approved electives (choose a minimum of 2):
    • Real Estate Investment Strategies (FINC-UB 35)
    • Real Estate Data Science, Artificial Intelligence, & Machine Learning (FINC-GB 6036)
    • Real Estate Development & Entrepreneurship (OPMG-UB 60)
    • Real Estate Transactions (MULT-UB 51)
    • Real Estate Global Markets: Mexico City (FINC-UB 37)

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