Cornell's Baker Program in Real Estate Offers New Opportunities for Students, Including NYC Study Option

The Paul Rubacha Department of Real Estate, jointly managed by the College of Architecture, Art, and Planning and the Cornell SC Johnson College of Business, has announced updates to the Baker Program in Real Estate's master's degree program that broaden access and enrich opportunities for enrolled students. These include securing a STEM designation for the program, the establishment of a +1 pathway for Cornell undergraduates, and most recently the addition of the opportunity to study in New York City during the final two semesters of coursework beginning fall 2026.

Richard Baker '88, who with his wife, Lisa Baker, made a gift to establish the Baker Program in Real Estate in 2012, is pleased to see its continued growth through these exciting developments. "At Cornell, we see real estate students as the next generation of leaders in the field," says Baker. "Thanks to the tremendous vision of our departmental and cross-college leadership, more students now have access to opportunities in and outside of the classroom to engage and shape this massively important, ever-changing industry."

Big Red Real Estate in the Big Apple

Beginning with the fall 2025 entering class, Master of Professional Studies in Real Estate (M.P.S. RE) students will have the option to spend their second year in the program based in New York City, providing them with valuable hands-on learning opportunities and perspectives gleaned directly from industry professionals. A core feature will be for-credit experiential learning outside of the classroom. Teams of students will work with local companies and/or government offices on real-world projects. Additionally, a for-credit speaker series will draw primarily on New York City professionals in the industry and local government. In both cases, this will provide valuable networking opportunities across many potential career trajectories.

The +1 Pathway

Real estate is an inherently multidisciplinary industry. The +1 pathway into the Baker Program allows strong Cornell students from across all majors at the university to fulfill the first year of the master's program while still an undergraduate. They can then complete the M.P.S. RE degree with one additional year beyond their undergraduate studies.

STEM Designation

The Baker Program is now a STEM-designated program. This recognizes the analytical nature of the degree while also allowing international students to remain in the United States for up to three years of optional professional training following graduation without requiring a work visa.

Learn more about this innovative graduate program in real estate.

Stuart Rosenthal, Professor and Chair of the Department of Real Estate, underlines that "taken together, these innovations will elevate the value and impact of the Baker M.P.S. RE degree, expanding opportunities for students keen to pursue careers in real estate. This includes student training at all levels, scholarship, and interaction with the industry and policy communities."

"These new developments for students interested in pursuing a real estate education at Cornell are incredibly important," adds Paul Rubacha '72, MBA '73, whose naming gift helped to establish the department in 2022. "In making these significant strides, the department is strengthening and expanding both the accessibility of the program and the range of high-impact, firsthand professional experiences available to M.P.S. RE students."

Why Study Real Estate at Cornell?

The multifaceted, dynamic nature of real estate makes it an interesting and exciting career path for students with prior academic and/or work experience across many disciplines, including engineering, finance, built environment, economics, or law. A standout feature of studying at Cornell is a deep embrace of the multidisciplinary nature of real estate exemplified by the department's two-college partnership, drawing on faculty and skills found in both the SC Johnson College of Business and the College of Architecture, Art, and Planning. This ensures the capacity and breadth to provide the training and preparation needed by students entering the discipline today.