PROGRAMS OF STUDY & COURSE DESCRIPTIONS
Real Estate (REA)

Minor: Sy Syms School
Five courses chosen from REA 2943, 2945, 2947, 2949, 2951, 2963.

2943 Principles of Real Estate. 3 credits.
    (Same as MAN 2943).
Provides an overview of the field of real estate and prepares the student for the New York State Real Estate Salesperson examination. Topics include license law and regulations, law of agency, real estate instruments, estates and interests, real estate financing, land use regulations, introduction to construction, appraisal, human rights, fair housing, real estate mathematics, and environmental issues.
Prerequisite: MAN 1020.

2945 Real Estate Management. 3 credits.
    (Same as MAN 2945).
Review of residential, office, and retail properties and an introduction to the principles and practices of real estate management on a daily basis. Topics include forms of real estate ownership; budgeting and financial reports; marketing and leasing; labor relations; emergency procedures; federal, state, and city laws; and rent collection. Analysis of the financial and physical management functions. Students will learn how to create an operating budget on a cash basis and a capital budget.
Prerequisite: MAN/REA 2943.

2947 Real Estate Appraisal. 3 credits.
    (Same as MAN 2947).
Theory, principles, and techniques for the appraisal of real estate property.
Prerequisite: MAN/REA 2943.

2949 Real Estate Finance. 3 credits.
    (Same as MAN 2949).
Examines the methods and techniques used by investors, developers, and lenders in evaluating income-producing real estate investment debt and equity investments. Students identify sources of capital and analyze the types of financing available in the real estate industry. Topics include mortgage instruments and notes, mortgage underwriting, the secondary mortgage market, and the construction loan.
Prerequisite: MAN/REA 2943.

2951 Real Estate Law. 3 credits.
    (Same as BLW/MAN 2951).
Survey of the basic principles of real estate property law for investment, lending, leasing, and development for both residential and commercial transactions. Students become familiar with terminology employed in describing various property interests, and with legal concepts involved in the acquisition, construction, leasing, financing, and sale of real estate property and real estate projects, including alternate forms of ownership, co-ownership, cooperatives, and condominiums. The most commonly encountered liens and encumbrances are reviewed, as well as how they are dealt with in the context of a title search and the recording act. Legal documents used in lending, development, and investment of real estate.
Prerequisite: MAN/REA 2943.

2963 Real Estate Investment. 3 credits.
    (Same as MAN 2963).
How to analyze and structure investments in residential and commercial properties in light of existing marker conditions. Topics include investing in cooperatives, condominiums, apartment buildings, shopping centers, and industrial properties, as well as finding properties, negotiating deals, converting rental properties into cooperative/condominiums ownership, and forming partnerships. Current tax law and its impact on the real estate investment.
Prerequisite: MAN/REA 2943.