Publications

Web

The Forgotten Real Estate Boom - Bubbles, Panics & Crashes – Historical Collections – Harvard Business School

HBS Quick Links MBA Executive Education Doctoral Programs Faculty and Research Alumni HBS Publishing Site Index HBS Home Contact Us Map/Directions Introduction 1837: The Hard Times 1873: Off the Rails 1907: The Banker's Panic 1929: The Great Crash Crisis Leadership The... View Details

August 2015 (Revised January 2016)
Teaching Note

To Buy or What to Buy: Your First Home

By: Charles F. Wu and Daniel Woodbury

This is the teaching note to the case "To Buy or What to Buy: Your First Home." View Details

Keywords: Real Estate; Property; Housing; Real Estate Industry; United States

January 2015
Teaching Plan

Residencial Los Andes

By: Nicolas P. Retsinas and Lisa Strope

In 2011, Mauricio Levitin and Josef Preschel, Managing Directors of Peninsula Investments Group (Peninsula) are deciding whether or not to recapitalize an equity investment in Residencial Los Andes, a residential development project in Santiago, Chile, or exit and take... View Details

Keywords: Real Estate; Property; Real Estate Industry; Chile

August 2012 (Revised August 2015)
Technical Note

Building Cities: A Technical Note

By: Arthur I Segel and Oliver O. Hartleben

World population growth and increasing urbanization will require new cities in the future around the world. This technical note attempts to systematize the key design decisions that developers and policy makers alike must make to be able to proceed. View Details

Keywords: Real Estate; Urban Scope; City; Real Estate Industry

17 Oct 2008
Working Paper Summaries

Consequences of Voluntary and Mandatory Fair Value Accounting: Evidence Surrounding IFRS Adoption in the EU Real Estate Industry

Keywords: by Karl A. Muller III, Edward J. Riedl & Thorsten Sellhorn; Real Estate; Real Estate

July 2012 (Revised August 2015)
Case

SOHO China: Design, Development, and Social Harmony

By: Arthur I Segel and Mukti Khaire

Founded in 1995 by Zhang Xin and her husband Mr. Pan Shiyi, SOHO China has developed into a world-class real estate development firm that has consistently delivered high-quality projects known for their cutting-edge designs and investment potential. Despite the... View Details

Keywords: Real Estate; Organizational Culture; Leasing; Design; Asset Management; Salesforce Management; Sales; Real Estate Industry; China

March 2016 (Revised May 2017)
Case

Brick by Brick

By: Sid Yog

Keywords: Real Estate; Property; Real Estate Industry

May 2012 (Revised November 2015)
Case

General Growth Properties and Pershing Square Capital Management

By: Arthur I. Segel, Stuart C. Gilson, Thomas Edward Follett Langer, Zubin Gopal Malkani and John Anthony Mascari

Keywords: Real Estate; Real Estate Industry

July 2018
Teaching Note

The Perfect Storm: What Happens When the Market Moves Four Standard Deviations?

By: Nori Gerardo Lietz and Sayiddah Fatima McCree

Adam Carter was the portfolio manager for Tate Modern Finance III, L.P. (“Tate” or the “Fund”), the third in a series of U.S. commercial real estate debt funds sponsored by the London-based Tate Partners. The Fund was capitalized with $700 million of equity... View Details

Keywords: CMBS; CLO; Repo Financing; Real Estate; Financial Strategy; Investment Funds; Financing and Loans

January 2021 (Revised May 2023)
Case

Love It or List It: An Aging Asset on Sixth Ave

By: Charles F. Wu, Moe Bakri, Mimi DiSipio, Clay Macfarlane, Sam Rashin and Baruch Shemtov

Keywords: Real Estate

August 2018 (Revised August 2018)
Teaching Note

Brooklyn Lodgers: 78 South Third St., Brooklyn, NY

By: Charles F. Wu and Arthur R. O. Sobral

Teaching Note for HBS No. 219-022. View Details

Keywords: Real Estate; Property; Investment; Management; New York (city, NY); Brooklyn

June 2013 (Revised September 2015)
Case

8 Spruce Street

By: Arthur I. Segel, Zuriel Chavez, Sarika Agrawal and Warren Min

Keywords: Real Estate; Housing; New York (city, NY)

July 2020 (Revised September 2020)
Case

Property Finder's Strategy for Online Classifieds in the MENA Region

By: Krishna G. Palepu, Gamze Yucaoglu and Fares Khrais

The case opens in 2020 as Michael Lahyani, founder and CEO of Property Finder, Dubai’s leading online real estate classifieds portal, contemplates the company’s five-year growth strategy.
Since its founding in 2005 in the United Arab Emirates (UAE), Property... View Details

Keywords: General Business; Real Estate; Entrepreneurship; Property; Strategy; Emerging Markets; Growth Management; Online Technology; Real Estate Industry; Real Estate Industry; United Arab Emirates; Saudi Arabia; Egypt; Turkey

September 2024
Case

Faena: Magic in Mid-Miami Beach

By: Robin Greenwood, Denise Han, Dave Habeeb and Ruth Page

The link to this multimedia case should be provided to students in advance as preparation for classroom case discussion.

This multimedia case follows real estate developer Alan Faena as he expanded his luxury development business from Argentina to the... View Details

November 2013
Teaching Note

8 Spruce Street

By: Arthur I Segel

The case begins in March 2009 during the depths of the recession with Forest City Ratner (FCR) Companies, a New York City based developer, facing the decision to halt construction half-way on 8 Spruce Street, the tallest residential tower in the Western Hemisphere, or... View Details

Keywords: Real Estate; Investment; Real Estate Industry; Japan

January 2013 (Revised March 2015)
Case

Hudson Yards—The Other Side of the Tracks?

By: Christopher M. Gordon, John D. Macomber, A. Eugene Kohn and Lisa Strope

Stephan Ross, CEO of Related Companies, is considering an opportunity to invest $1 billion for the air rights over the Hudson Rail Yards in New York City. The investment would allow Related to build a platform over the operating rail tracks and develop this blighted... View Details

Keywords: Real Estate; Property; Growth and Development Strategy; Urban Development; Real Estate Industry; New York (city, NY)

August 2021
Teaching Note

Patrimonio Hoy

By: Arthur I Segel and Michael Chu

Teaching Note for HBS Case No. 805-064. View Details

Keywords: Real Estate; Mexico

2020
Working Paper

Collusion in Brokered Markets

By: John William Hatfield, Scott Duke Kominers and Richard Lowery

The U.S. residential real estate agency market presents a puzzle for economic theory: commissions on real estate transactions have remained high for decades even though entry is frequent and costs are low. We model the real estate agency market, and other brokered... View Details

Keywords: Real Estate; ＂Repeated Games＂; Collusion; Antitrust; Brokered Markets; Game Theory; Real Estate Industry

SSRN

Read Now

March 2016
Teaching Plan

Emaar: The Center of Tomorrow, Today

By: Sid Yog, Esel Cekin and Marc Homsy

Starting in 1997, Mohammad Alabbar, Chairman of Emaar, has been largely associated with Dubai's most renowned real estate projects: the world's tallest building, largest mall and biggest fountain show. Emaar's pioneering success attracted a large number of private... View Details

Keywords: Middle East; United Arab Emirates; Egypt; Dubai; Real Estate; Finance; Emaar; Public Real Estate Company; Market Entry and Exit; Competitive Strategy; Financial Condition; Entrepreneurship; Global Strategy; Real Estate Industry; Dubai