real estate - School of Continuing and Professional Studies - New ...

SCPS.NYU.EDU/REALESTATEDEVELOPMENTThe world of real estate development is highly creative and requires innovative leadershipand project management skills, and also a fundamental understanding of market analysis,finance and investment analysis, planning and design, construction, marketing, and propertymanagement. The courses in this section address these topics and more.The Real Estate Development ProcessX62.9402/$640N Sec. 1: Wed. 6–8 p.m., Feb. 9–Apr. 20(10 sessions). Nicholas Michael Zampetti,principal, Hudson Investment Group.W Sec. 2: Mon. 6.20–8.20 p.m., Feb. 14–May 2 (10 sessions). Matthew M. Baron,principal, Simon Development Group.V Sec. 3: Thurs. 7.30–9.30 p.m., Mar. 10–May 12 (10 sessions). Nicholas Michael ZampettiLearn the fundamental phases of the realestate development process. Property andproject types covered include commercialoffice, multifamily, mixed-use, redevelopment,and urban infill. Study land assemblage,land use review, environmentalprocedures, design considerations, deliverymethods, market feasibility, the project proforma, capital and financing structures,dealing with professional and governmentagencies, contracts with partners and externalparties, project life cycle, marketing,leasing, and property management. Onlinesection not approved for New York State salesperson’sand broker’s continuing education.NYCEM-15 hours.Real Estate Marketand Feasibility AnalysisX62.9635/$640N Sec. 1: Tues. 6–8 p.m., Feb. 15–Apr. 12(8 sessions). Norman B. Steinberg, vicepresident, The Praedium Group.Learn fundamental real estate market analysisprinciples and techniques to make moreinformed development and investmentdecisions. Topics include site assessment;demographic analysis; rental rates; salesvalues; supply and demand for differentproperty types; and local, as well as national,economic, governmental, legal, andsocial considerations. Relevant, hands-onresearch and analysis exercises are conductedinside and outside of the classroom.Prerequisite: The Real Estate DevelopmentProcess/X62.9402 or equivalent.SPRING INTENSIVEReal Estate DevelopmentX63.9660/$1,995M Sec. 1: Mon.–Fri. 9 a.m.–4.30 p.m., Mar. 28–Apr. 1 (5 sessions).Delve into all aspects of the real estate development process and gain a solid understandingof the procedures, issues, and complexities that come into play in the developmentof real estate—from inception to occupancy. Study the phases of real estate developmentand acquire essential knowledge and skills. Case studies are used throughout theprogram. Topics include an overview of the real estate development process, legal concepts,market analysis and project site selection, the feasibility study, project hard- andsoft-cost budget, structuring and raising equity, construction loan finance and the drawpackage, construction considerations for the owner, green building development, andbranding and marketing strategy. Prerequisite: The Business of Real Estate: Finance andInvestment/X62.9630 or equivalent real estate investment analysis experience. First daycheck-in and materials distribution at 8:45 a.m.Financing Real EstateDevelopment ProjectsX62.9127/$640N Sec. 1: Thurs. 6–8 p.m., Feb. 10–Apr. 14(8 sessions). Ira Nachem, senior vice president,Amalgamated Bank.Examine the real estate development financeprocess for new building projects and renovations.Whether you are an owner, borrower,investor, developer, lender, broker,contractor, or manager in the real estate industry,this course reveals the mechanics,motivations, and requirements of the partiesinvolved in the construction loan (debt)process. Topics include loan types; the developmentteam; the lender’s credit criteria;the loan proposal; hard and soft cost budgets;the appraisal report; project feasibility; duediligence; construction contracts; legal documentation;guarantees; insurance and bonding;title insurance; liens; environmentalreports; the Building Loan Agreement (BLA);requisitions, the funding process, and loanadministration; retainage; the lender’s engineer;and the takeout. Prerequisites:Introduction to Real Estate Fin ance andInvestment/X62.9100 and The Real EstateDevelopment Process/X62.9402, or equivalent.Fundamentals of Real Property LawX62.9147/$640N Sec. 1: Tues. 6–8 p.m., Feb. 15–Apr. 12(8 sessions). Sholem Friedman, former chief–real estate and environmental law division,Port Authority of New York and New Jersey.V Sec. 2: Mon. 7.30–9.30 p.m., Mar. 14–May 2(8 sessions). Nansi Friedman, Esq.Acquire an understanding of the essentiallegal concepts and issues involved in realestate transactions, investment, development,and ownership. Topics include an introductionto real property law, real estate instruments,ownership entities, land acquisitionand disposition, financing, management(leasing and environmental), land use regulation,and zoning regulation. Online section notapproved for New York State salesperson’s andbroker’s continuing education. NYCEM-15 hours.Land Use Regulations: Zoning,Subdivisions, and Development RightsX62.9172/$595N Sec. 1: Wed. 6–8 p.m., Feb. 9–Apr. 6(8 sessions). Caroline Harris, Esq., principal,Law Offices of Caroline G. Harris.Examine land use and environmentalregulations that directly affect real estatedevelopment. Learn how these regulationscreate risks and opportunities and considercreative approaches for navigating the permittingand approval process. Topics includethe roles and responsibilities of developers,government agencies, community organizations,and judicial bodies; zoning; implementationand enforcement of land useand environmental regulations; lot mergers;subdivision regulations; transfer of developmentrights; New York City landmarkslaw; New York City Department of Buildingspermit process; as-of-right and discretionaryapplications; and environmental, eminentdomain, and zoning calculations forfloor area, open space, lot line windows,courtyards, yard-to-the-rear, and sidebuildings.Commercial Real Estate Transactions:Current Issues and StructuresX62.9171/$640N Sec. 1: Mon. 6–8 p.m., Feb. 14–Apr. 11(8 sessions). Steven Klein, partner,Willkie Farr & Gallagher LLP.Examine current topics in commercial realestate transactions. Gain a step-by-stepunderstanding of transaction structuresand leading-edge issues from the perspectivesof the buyer, seller, equity investor,lender, and tenant. Topics include letter ofintent, contract of sale, due diligence, jointventure agreement, loan agreement, spacelease, property management agreement,management of transaction risk, and closing.Discuss covenants, representations, indemnities,defaults, rights and remedies,governance structures, dispute resolutionmechanisms, transfer restrictions, restrictionson competition, and key man provisions.Multi-Family Real Estate DevelopmentX62.9643/$640N Sec. 1: Thurs. 6–8 p.m., Feb. 10–Apr. 14(8 sessions).Study residential real estate developmentfrom financial, land use, design, and publicpolicy perspectives. Explore both redevelopmentand new construction opportunitiesfor rental and for-sale product. Topicsinclude acquisition and assemblage, environmentaland engineering review, designdevelopment, construction, joint venturesand public-private partnerships, capital andfinancing structure, and sales and marketingconcerns. Case studies are included aspart of the curriculum.Affordable Housing DevelopmentX62.9642/$640N Sec. 1: Tues. 6–8 p.m., Feb. 15–Apr. 12(8 sessions). Ellen Kackmann, WachoviaCapital Markets, LLC.Examine the world of affordable housingand the myriad of programs that fall underthis category. While reviewing the evolutionof affordable housing in the UnitedStates, participants learn about specificprograms and their objectives, with an emphasison the New York market. Topics includespecific financing mechanisms usedto support the development of affordablehousing, incentives for developers such asinclusionary zoning and real estate tax reductions,an overview of compliance issueswith regard to affordable housing programs,and the future of this type of development.Commercial LeasesX62.9031/$640N Sec. 1: Wed. 6–8 p.m., Feb. 9–Apr. 6(8 sessions). John Wood, Esq., partner,Thompson & Knight LLP.Gain an in-depth understanding of the financial,managerial, and legal implicationsof office and retail leases. Topics includereal estate taxes and escalation clauses, possession,tenant options, default provisions,lease cancellation, assignment and subletting,electricity, repairs/alterations, insuranceand liability, negotiation, lease restructuringand takeover leases, as well as the broker’srole in commercial leases. NYCEM-15 hours.Planning, Marketing, andNegotiating Commercial LeasesX62.9048/$595N Sec. 1: Tues. 6–8 p.m., Feb. 15–Apr. 12(8 sessions).Explore considerations and strategies forsuccessful leasing and marketing of commercialoffice buildings. Topics includestrategic lease planning; marketing; marketanalysis/pricing; building stacking; interactionwith the brokerage community; presentationto ownership; prospective tenantsand brokers; negotiations; importance ofoffice space design (prebuilts) and capitalimprovements; discussion of specific leaseclauses, such as escalations, assignment,and subleasing; tenant and landlord options;and security deposits. Prerequisite:Commercial Leases/X62.9031 or equivalent.M Meets at NYU Midtown Center, 11 W. 42nd St.N Meets at Norman Thomas Center, 111 E. 33rd St.W Meets at the Woolworth Building, 15 Barclay St.V Online course.4WEB: SCPS.NYU.EDUE-MAIL: SCPSINFO@NYU.EDU