INVOKING REAL ESTATE ANALYSIS:
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Market Analysis
Fiscal Analysis
Valuation of Property
Pro Forma Analysis
Climate Change Mitigation and
Adaptation
PARTICIPATING INSTITUTIONS:
Edward J. Bloustein School of Planning and Public Policy
Rutgers University
New Brunswick, New Jersey
ROBERT W. BURCHELL, Ph.D.
Baruch College
City University of New York (CUNY)
New York, New York
JACK NYMAN, MCP
Grubb & Ellis
New York, New York
ROBERT VON ANCKEN, MAI
United Nations
New York, New York
P.K. RAO, Ph.D.
Spring 2012
Tuesdays, 6:10 – 8:40 P.M.
Civic Square Room 168
INVOKING REAL ESTATE ANALYSIS:





Market Analysis
Fiscal Analysis
Valuation of Property
Pro Forma Analysis
Climate Change Mitigation and
Adaptation
OBJECTIVE
To provide students with the basics of real estate analysis from pro forma preparation of a real estate idea to a traffic
analysis of a proposed development
GOALS
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To develop skills related to real estate (fiscal, appraisal, pro forma, climate change)
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To see the value of integrating real estate analysis into development decisions
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To understand and appreciate the variety of real estate analyses
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To provide multiple environments (New York City, International Cities) for viewing real estate investments
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To provide an exchange among planning schools and professionals in the New York City metro area
MEETING TIMES
The class will meet from 6:10–8:40 p.m. on Tuesday evenings
REQUIRED TEXTS
Real Estate Development (3rd ed.), 2000
(Select Chapters on Sakai)
The Costs of Sprawl 2000 (2002)
(Available at no charge from CUPR)
GRADING EMPHASIS
(Percentage)
Précis
40%
In-Class Presentations (2)
60%
ACADEMIC INTEGRITY
Plagiarism will not be tolerated; the rules of citation will be strictly enforced.
INVOKING REAL ESTATE ANALYSIS:
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DATE
WEEK
17 Jan 12
1
24 Jan 12
TOPIC
Market Analysis
Fiscal Analysis
Valuation of Property
Pro Forma Analysis
Climate Change Mitigation and
Adaptation
INSTRUCTOR(S)
READING (Real Estate
Investment)
Introduction to Real Estate Analysis—Market, Fiscal,
Appraisal, Pro Forma
Burchell
--
2
Feasibility Versus Market Analysis: Differences and
Basics of Each
Burchell
Sakai, Burchell: Week 2.
31 Jan 12
3
First Steps of Project Development—How to Get Into It;
Where Deals Come From
Nyman
Sakai, Nyman: Week 3.
7 Feb 12
4
Overview of Value Concepts: Price, Value, Costs—What
Are You Looking For in Appraisal?
Von Ancken
14 Feb 12
5
Residential Climate Change Analysis—Overview:
Techniques, Terms, Mitigation, and Adaptations.
21 Feb 12
6
Appraisal Importance: Specific Appraisal Examples:
Subways; WTC; Corporate HQ; Large Offices
28 Feb 12
7
The Development Pro Forma—How You Compose It; How
You Analyze It.
6 Mar 12
8
Implementing Residential Climate Change Analysis—
Adaptations and Mitigation Techniques
13 Mar 12
9
TOPIC SELECTION: IN-CLASS PRESENTATIONS BY
STUDENTS. (What Type of Analysis?) (10-Slide PowerPoint)
Students
--
20 Mar 12
10
Fiscal Impact Analysis—Component Calculations
Burchell
Sakai, Burchell: Week 10.
3 Apr 12
11
Methods of Appraisal—Market, Cost, and Income
Approaches
Von Ancken
Sakai, Von Ancken: Week
11.
10 Apr 12
12
Using the Development Pro Forma to Gauge Profit and
Market Penetration
Nyman
Sakai, Nyman: Week 12.
17 Apr 12
13
Setting Up Ongoing Adaptation and Mitigation Reforms
at the Local Level
Rao
24 Apr 12
14
Impact Fee Calculations—Component Calculations
1 May 12
15
Summing Up—What Have We Learned?
8 May 12
16
— STUDENTS PRESENT THEIR ANALYSES OF DEVELOPMENT TO A
REVIEW BOARD—(10-slide PowerPoint, including evaluations)
Rao
Von Ancken
Nyman
Rao
Sakai, Von Ancken: Wk 4.
Sakai, Rao: Week 5.
Sakai, Von Ancken: Wk 6.
Sakai, Nyman: Week 7.
Sakai, Rao: Week 8.
Sakai, Rao: Week 13.
Burchell
Sakai, Burchell: Week 11.
Burchell, Nyman
Von Ancken, Rao
Students
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INVOKING REAL ESTATE ANALYSIS:





Market Analysis
Fiscal Analysis
Valuation of Property
Pro Forma Analysis
Climate Change Mitigation and
Adaptation