Students benefit from real estate program’s expansion into NYC

The real estate business is built on connections, and with the launch of a second-year NYC option for the master’s in real estate program, students are tapping into a vibrant real estate network.

The Paul Rubacha Department of Real Estate’s Baker Program’s first New York City-based cohort arrived in August, expanding their learning beyond Cornell’s Ithaca campus to take classes at Cornell Tech on Roosevelt Island and 570 Lexington in Manhattan. The students also participate in immersions at companies across the city, an element only available in the New York City option and which accounts for about half of student course time.

The two-year program’s curriculum is designed so students learn real estate fundamentals their first year in Ithaca. First-year courses create a foundational understanding about the built environment, finance, investment, law and engineering. 

For the second year of the program students can transition to New York City and choose from a robust elective offering. Elective classes this year cover topics ranging from team dynamics and property design and development to energy and sustainability.

Freedom to explore

Students have been drawn to the New York City modality for myriad reasons.

“I like the comfort zone that Ithaca came with and that New York is never going to provide, but I think you can only grow so much in a comfort zone,” said Neerja Joshi, MPS-RE ’27.

Joshi took advantage of the program’s New York City connection in her first semester. She traveled by bus from Ithaca to the city for a 20-minute coffee chat with a senior director whose work focused on affordable housing. Though she decided not to pursue that specific field, the experience chatting with a senior real estate professional cemented her desire to be embedded in the city. 

“You’ve got to do New York at least once in your life, and there’s never a better time than your 20s. Because this is a time where you’re learning, you’re messing up and you’re getting back on your feet,” she said.

Building professionalism

In the city, students apply what they’ve learned during their first year in Ithaca, said Cody A. Danks Burke, director of the Baker Program. “Going to New York City really offers us the opportunity to bring in more of the applied side of real estate to students.” 

This aspect of the program appealed to David Gross, MPS-RE ’27.

“We’re surrounded by other working professionals, not undergrad college students,” he said. “So whether it’s walking to 53rd and Lex, riding the subway in the morning or going to class, it’s like we’re in a real work environment. I think that helps build professionalism and sets our mindset to be more focused on our personal growth.”

While other students are placed in small teams at companies throughout the city for their immersions, Gross is working directly with Stephanie Wright, SC Johnson College professor of practice, on an independent study around family business.

“While I’m not necessarily looking to stay in New York for a long time, it is a great opportunity to be immersed in the network which has influence across the country,” he said.

Through his work with Wright, Gross is creating a business plan related to family businesses and the growth of small businesses.  

“There’s a lot of moving pieces, but ultimately the goal is to expand my network and learn best practices of how to scale real estate companies,” said Gross.

The opportunities afforded to students through the program’s second year is one of the Baker Program’s main differentiators, according to Burke.

The Baker Program parallels the two year MBA experience, said Burke. “I think our students graduate as very well-rounded real estate professionals who are prepared to lead, whether it be on the finance investment side or on the development side.”

The second year provides students the opportunity for elective classes, a mentor from the Cornell Real Estate Council and in the NYC option an immersion and accompanying rigorous professional development component with Wright, who runs the immersions, said Burke.

Experiencing company culture

Taylor Shaw, MPS-RE ’27, was surprised to find herself in the city, she said.

“When I first started the program, I knew that going to New York City was an option and obviously New York City is very well known for real estate but originally, I thought that I was going to stay in Ithaca,” Shaw said. “I ultimately changed my mind because of the immersion program.”

Shaw is at BRP Companies, a fully vertically integrated development company, for her immersion. On her first day Shaw was in project meetings and working with a team of professionals.

“They have a fantastic office location near Grand Central Station and the Chrysler Building,” said Shaw. “Being able to just go in a conference room and see how all of these industry professionals are going about their average Tuesday, collaborating on deals and getting to be involved in that and look out and see the built environment that you think of as New York City was kind of surreal.”

But Shaw wasn’t drawn to the allure of the city, she was wowed by the curriculum and networking opportunities.

“I’m less particular about a specific city and more about a place where I feel like I can really grow my career,” she said. “I think that Cornell’s alum network in the city, and outside the city, has really been a good platform for that.”

The cohort dynamic made the transition to city-life easier for an Iowa native like Shaw.

“I really appreciated that we got to have the smaller community feel in Ithaca for a year and then be able to take all of those friendships and relationships that we formed in the first year and already have them in the city in the second year,” she said. “I think [the staff and professors] have done a really good job of kind of having a warm community, family feel to the program, which is really nice.”

The formation of cohort bonds is integral to the program, said Burke.

“One of the things about having the first year in New York is … I want them to make deep bonds with us and with each other, with the faculty, the staff and with their cohort,” he said. 

That bond is strengthened in the classroom, through the immersions, and for some students, through living on Roosevelt Island.

“Coming to the island feels like coming home,” said Joshi. “It’s like a little bit of Ithaca right here because it’s so peaceful.”