<p><span class="p-body"><b>NEW YORK, NY – August 18, 2025 </b>– This fall, the NYU School of Professional Studies (NYU SPS) will host the inaugural <a href="https://www.sps.nyu.edu/about/academic-divisions-and-departments/schack-institute-of-real-estate.html"><b>NYU SPS Schack Institute of Real Estate</b></a><b> <a href="/content/sps-nyu/about/academic-divisions-and-departments/schack-institute-of-real-estate/creative-opportunities-in-real-estate-competition.html">Creative Opportunities in Real Estate (CORE) Competition</a></b>, a two-month case competition focused on addressing and solving real-world real estate challenges and issues. Registration begins September 1, 2025, and is open to teams from NYU and other University Real Estate Programs.</span></p> <p><span class="p-body">“The NYU SPS Schack CORE Competition differentiates itself from other real estate case competitions by requiring teams to adopt a multidisciplinary, problem-solving approach,” said <b>Marc Norman, Larry &amp; Klara Silverstein Chair in Real Estate Development and Investment and associate dean at NYU SPS Schack Institute.</b> “Teams must deliver a comprehensive development and financial analysis of the property, integrating asset management, market analysis, and design considerations to create feasible, innovative solutions. ”</span></p> <p><span class="p-body"><b>This Year’s Competition: The Smile Project by The Blumenfeld Development Group<br> </b>This year’s case competition subject will be the <a href="https://bdg.net/" target="_blank"><b>Blumenfeld Development Group</b></a> project, <a href="https://www.thesmile.com/" target="_blank"><b>The Smile</b></a>. The Smile by Blumenfeld Development Group—a veteran NYC developer in retail, industrial, and office—was their first entry into the major residential development space. Designed by the renowned Danish architect Bjarke Ingels Group, the 233–unit project features 70 affordable units, top-tier finishes, top–of–class amenities, retail, and office space.</span></p> <p><span class="p-body">The three to five members of each team will research and analyze The Smile project and its market context to develop a plan for maximizing the project's potential. Multiple strategies can be explored to enhance the asset's economic returns, market positioning, and social impact, with special consideration given to creative solutions that are credible and innovative.</span></p> <p><span class="p-body"><b>Schack CORE Competition Details<br> </b>As a prelude to the competition, the NYU SPS Schack Institute will host four workshops led by NYU Schack professors who will share their industry expertise. These sessions will cover essential skills in market analysis, business plan development, financial analysis/proforma modeling, and presentation formats for members of the competing teams.</span></p> <p><span class="p-body">A selection committee composed of NYU professors and industry professionals will choose three finalists. Those finalists will then present their recommendations to the judging committee in New York City, culminating in an awards reception in December.</span></p> <p><span class="p-body">The deadline for registering teams is October 3, 2025. To register a team and for additional information about the challenge, visit the competition webpage at: <b><a href="/content/sps-nyu/about/academic-divisions-and-departments/schack-institute-of-real-estate/creative-opportunities-in-real-estate-competition.html">The NYU Schack CORE Competition</a></b>.</span></p> <p><span class="p-body">&quot;This competition provides an unmatched opportunity for students studying in real estate and related fields to apply their knowledge to a real-world development project, receive mentorship from industry leaders, and gain invaluable experience that will help shape their careers,” said <b>Matthew Kwatinetz, clinical assistant professor at the NYU SPS Schack Institute and event director for the NYU SPS Schack CORE Competition.</b></span></p> <p><span class="p-body"><b>About the NYU SPS Schack Institute of Real Estate:<br> </b>The Institute’s degree programs—notably the <a href="https://www.sps.nyu.edu/homepage/academics/masters-degrees/ms-in-real-estate.html"><b>MS in Real Estate</b></a>, the <a href="https://www.sps.nyu.edu/homepage/academics/masters-degrees/ms-in-real-estate-development.html"><b>MS in Real Estate Development</b></a>, and the <a href="https://www.sps.nyu.edu/content/sps-nyu/explore/degrees-and-programs/bs-in-real-estate.html"><b>Bachelor of Science in Real Estate</b></a>—currently have more than 800 full and part-time students from across the United States and nearly 50 countries. In addition to its flagship degree programs, thousands of working professionals enroll each year in the Schack Institute’s executive education, certificate, and career advancement programs.</span></p> <p><span class="p-body">An anchor of real estate academia’s engagement with industry, the Institute is home to the <a href="https://www.sps.nyu.edu/content/sps-nyu/about/academic-divisions-and-departments/schack-institute-of-real-estate/the-reit-center.html"><b>REIT Center</b></a>, the <a href="https://www.sps.nyu.edu/content/sps-nyu/about/academic-divisions-and-departments/schack-institute-of-real-estate/center-for-sustainable-built-environment.html"><b>Center for the Sustainable Built Environment</b></a>, the CREFC Center for Real Estate Finance, and the <a href="https://urbanlab.nyu.edu/" target="_blank"><b>Urban Lab</b></a>. The Institute hosts many national industry events, including annual conferences on real estate capital markets, the NYU SPS Women in Real Estate Symposium, its NYU Schack REIT Symposium, and its Sustainable Real Estate Conference. Under the direction of Schack’s industry-engaged faculty, ongoing applied research at the Institute spans an exceptional range of issues in real estate development and investment, urban economics, and market structures and regulation.</span></p> <p><span class="p-body"><b>About the NYU School of Professional Studies<br> </b>Established in 1934, NYU SPS is an internationally recognized university that offers diverse students access and opportunity to practical, real-world preparation to thrive in their careers while building the next generation of industry leaders ready to embrace tomorrow’s innovations and challenges and lead change in global workplaces.</span></p> <p><span class="p-body">The NYU SPS global community is made up of industry professionals, doers, and trailblazers shaping the future of industries, positioning the School as an idea incubator center for various fields, including real estate, hospitality, global affairs, sports business, integrated marketing, HR, professional writing, and more.</span></p> <p><span class="p-body">Today, NYU SPS offers one of the most diverse portfolios of educational offerings at NYU, including graduate degrees, bachelor’s degrees for traditional and degree completion students, associate degrees, continuing education courses, and certificate programs.</span></p> <p><span class="p-body">NYU SPS hosts some of the largest and most in-demand industry conferences in the world, including the Schack Institute of Real Estate’s Capital Markets Conference, REIT Symposium, and National Symposium of Women in Real Estate; the Jonathan M. Tisch Center’s International Hospitality Industry Investment Conference; the Annual NYU Tax Conferences; and the NYU Coaching and Technology Summit. The School’s invaluable connections to industry leaders are a distinguishing factor in the education it provides.</span></p>