NYU Real Estate Undergrad
Senior in high school applying to college, dream of working in real estate development at a top shop (Hines etc.) or real estate finance. Don't quite have the grades for Wharton, Stern, etc. but could probably swing into a decent BS in Real Estate program. Could someone tell me how NYU Real Estate undergrad is perceived on the street and its placement. I hear it's pretty good and has placed well in recent years but want to hear WSO's opinion.
Based on the most helpful WSO content, NYU's Real Estate undergraduate program, particularly through the School of Professional Studies (SPS), is generally well-regarded in the industry. While it may not have the same prestige as the Stern School of Business, the real estate program at NYU SPS offers a solid education in the field and can provide good opportunities for networking and internships, especially given its location in New York City.
Here are some points to consider:
Location Advantage: Being in NYC, you're at the heart of one of the world's largest real estate markets. This proximity to numerous firms and professionals can be leveraged for internships and networking events.
Networking Opportunities: NYU has a strong alumni network and industry connections that can be invaluable when looking for internships and jobs in real estate development and finance.
Internship Placement: The program has a history of placing students in internships, which is crucial for gaining the experience needed to work at top real estate firms.
Transfer Possibilities: If you start in the SPS program and perform well, there may be opportunities to transfer to more prestigious programs within NYU, such as Stern, although this can be competitive and is not guaranteed.
Reputation and Perception: While the program's reputation is solid, it's important to note that in the world of real estate development and finance, your experience, networking skills, and how you leverage the education you receive can often outweigh the name of the school.
Remember, the key to breaking into top shops like Hines will be a combination of your academic performance, internships, networking, and how you market yourself to potential employers. It's not just the school's name that will open doors, but what you do with the opportunities it provides. Keep in mind that the real estate industry values hands-on experience highly, so focus on gaining practical experience alongside your studies.
Sources: Is NYU Stern's(undergraduate) reputation increasing?, MBA or Masters of Science in Real Estate??, Undergrad B-School Environment Changing, https://www.wallstreetoasis.com/forum/real-estate/my-8-month-real-estate-finance-internship-journey-some-general-thoughts-on-nyus?customgpt=1, My 8-month real estate finance internship journey + some general thoughts on NYU's MSRE
NYU Schack's undergrad program is more than just "decent" and offers its students notable placements within the real estate industry. I studied finance/real estate at Stern but knew some Schack students through shared RE classes and organizations. They placed in asset management, acquisitions, and lending roles at excellent firms (CBRE, Rialto, etc.) after grad. A quick Google search tells you the program is consistently ranked #3 in undergrad RE programs nationally per (US News). To some, the name may not carry the same weight as Stern but would still be a great addition to your resume. If you're already dead set on working in the CRE industry (damn, as a teenager, props to you), then Schack's BS program is an excellent choice.
Also, are you able to apply to multiple programs through Common App? I'm unfamiliar with the process as I was a transfer student. If you are able, I'd apply to both Stern and Schack programs. Good luck with your applications!
What are your thoughts on the MSRE program? Curious if you crossed paths with graduate students as well.
Good question. I interned a while back at a small development firm under a VP and associate who both received their MSRE's from Schack. Both were very smart people who I enjoyed working with and learning from. I didn't ask super deep questions about their time at Schack, but they did mention that a lot of their current business relationships/contacts were Schack friends and classmates. Made sense as several of the leasing brokers/tenant reps/etc that I worked with knew my VP from his graduating class. That isn't to say the same doesn't happen with other schools, but the MSRE program seems to be pretty well-connected.
Personally, I don't think I would get an MSRE, whether it's offered by NYU, USC, or any other college, but my overall perception of the program and its graduates is positive. Again, if you are dead set on a career solely in real estate, the Schack MSRE could provide the education and connections for success.
I graduated from the program myself, and I think the most polarizing part of the program is just how real estate intensive it is. It sounds self-evident but so many people drop the program because they're overwhelmed by the idea of having to take 60 credits of real estate classes. If you're dead set on real estate, then I don't think there is a program that will better prepare you for a career in the industry (though I'm obviously partial), but I would think about the pros/cons of a more general business/finance education too even if it isn't Wharton or Stern.
I personally ended up doing AM at a MF (think BX, APO, KKR) but tons of people go into other areas like debt, acquisitions, development, and RE IB too.
Good luck with your applications!
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