Lynne Sagalyn

Earle W. Kazis and Benjamin Schore Professor Emerita of Real Estate
Finance

BS, Cornell, 1969; MCRP, Rutgers, 1971; PhD, Massachusetts Institute of Technology, 1980

Joined CBS in 1992

E-mail:  [email protected]
Curriculum Vitae

 

LYNNE B. SAGALYN is the Earle W. Kazis and Benjamin Schore Professor Emerita of Real Estate at Columbia Business School, where she was formerly the director of the MBA Real Estate Program and the founding director of the Paul Milstein Center for Real Estate. 

An expert in real estate development and finance, Sagalyn has published extensively on a broad range of issues in the fields of urban development finance, public/private partnerships, and real estate finance. In addition to which, she has developed scores of cases for graduate-level teaching of real estate finance and investment strategy and been an innovator in curriculum for real estate study. 

Sagalyn is widely known for her research on city building. Her most recent book, Power at Ground Zero: Politics, Money, and the Rebuilding of Lower Manhattan (Oxford University Press), has received continuous praise and is regarded as the definitive account of that rebuilding challenge. Her earlier books on city building include Times Square Roulette: Remaking the City Icon (MIT Press, 2001), and, Downtown Inc.: How America Rebuilds Cities, co-authored (MIT Press, 1989). 

Professor Sagalyn’s activities outside academia are diverse. She serves on the board of Blackstone Mortgage Trust (NYSE: BXMT) and chairs its audit committee, and the Advisory Board of Morgan Stanley PRIME Property Fund, and Olshan Properties, a family real estate company. In the not-for-profit realm, she is a member of the board of directors of the Regional Plan Association (RPA) and co-chairs its New York Committee, the Skyscraper Museum and serves as vice president, and the board of the New York City Trust for Cultural Resources and chairs its audit committee. She has been a litigation expert, a consultant to both private firms and public agencies, and a member of the New York City [Board of Education] Chancellor’s Commission on the Capital Plan. She has done extensive executive teaching, particularly for Tishman Speyer Properties and the Urban Land Institute.

In addition to her more than twenty years at Columbia Business School, Sagalyn has held appointments at the University of Pennsylvania in both the School of Design (City Planning Department) and the Wharton School (Real Estate Department), and at M.I.T., Department of Urban Studies and Planning, where she taught courses in public policy and real estate finance as part of the school’s pioneering degree program in real estate development. 

Professor Sagalyn received her Ph.D. from the Massachusetts Institute of Technology, a Master of City and Regional Planning from Rutgers University, and a B.S. with distinction from Cornell University. 

Membership & Affiliations

Outside Activities

 

- Blackstone Mortgage Trust (NYSE:BXMT), Board member and Chair of the Audit Committee.

- Board member, Regional Plan Association.

- Board Member, The Skyscraper Museum

Areas of Expertise

Economic DevelopmentEntrepreneurshipInvestment StrategyPublic / Private PartnershipsReal Estate

 

Teaching

Spring 2017

NYC Immersion Seminar: Real Estate Development (MBA)

Spring 2016

Independent Study - 1.5 credits (MBA)
Advanced Seminar in Real Estate (MBA)
Independent Study - 3 credits (MBA)

Spring 2015

Advanced Seminar in Real Estate (MBA)

Columbia Caseworks cases

A Short Note on Real Estate Development Financials (2017)
Coauthor(s): Lynne B. Sagalyn

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Note on Forms of Real Estate Ownership (2016)
Coauthor(s): Lynne B. Sagalyn

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Note on Legal Concepts for Real Property ()
Coauthor(s): Lynne B. Sagalyn

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Note on Zoning Regulations (2016)
Coauthor(s): Lynne B. Sagalyn

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330 North Wabash (2016)
Coauthor(s): David Linn Reynolds, Lynne B. Sagalyn

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Designing a Strategy for Growth: Olshan Properties and the Transition to a Second Generation Company (2015)
Coauthor(s): Lynne B. Sagalyn

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Aligning Incentives: JV Opportunity for a Private Equity Real Estate Fund (2015)
Coauthor(s): Lynne Sagalyn

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Use of Capitalization Rates in Real Estate Financial Analysis (2014)
Coauthor(s): Tod McGrath, Lynne Sagalyn

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Note on the Mortgage as a Security Interest (2014)
Coauthor(s): Lynne Sagalyn

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The Mortgage for Pacific Tower (2014)
Coauthor(s): Lynne B. Sagalyn, Jennifer Morgan

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The Trianon (2014)
Coauthor(s): Lynne Sagalyn

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Archstone From 2007 to 2013 Who Said Life was Easy? (2014)
Coauthor(s): Lynne B. Sagalyn, Jared Nutt '13

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Hostel, Friendly, or Both? The American Hotel (2013)
Coauthor(s): Scott Shapiro, Lynne Sagalyn

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Distressed Debt Investing The Hancock Tower & Garage (2012)
Coauthor(s): Lynne Sagalyn

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Capturing the Chrysler Building (2009)
Coauthor(s): Lynne Sagalyn, Rona Smith

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Fractured Condominium Investment Opportunity: Sierra Vista (2012)
Coauthor(s): Troy Daniel, Michael Gusich, Lynne B. Sagalyn

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Battling Over a New York Workout: The W Hotel Strategy (2012)
Coauthor(s): Lynne Sagalyn, Fred Knapp '12

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Note on Risk Analysis for Real Estate (2012)
Coauthor(s): Lynne Sagalyn

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Liquidity-Driven Investment Opportunities: Mayfair House (2012)
Coauthor(s): Lynne Sagalyn

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Soho Loft Building Pricing the Entrepreneur’s Development Risk (2013)
Coauthor(s): Eric D. Hadar '89, Lynne Sagalyn

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Debating Strategic Directions in a Changing Investment Landscape: AREA Property Partners (2012)
Coauthor(s): Lynne Sagalyn, Rona Smith

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The Acquisition of Corus Bank (2011)
Coauthor(s): Rona Smith, Lynne Sagalyn

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Putting Back the Pieces of Ownership: The Madison Building (2011)
Coauthor(s): Lynne Sagalyn

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Bryant Park Tower (2011)
Coauthor(s): Lynne Sagalyn, Nicholas Bienstock, Chris Schlank

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Structuring the Burnswell Joint Venture (2010)
Coauthor(s): Lynne Sagalyn

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Restructuring a Bank Loan in Default: Globex Storage Company (2010)
Coauthor(s): Lynne Sagalyn

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Centro: Debt Restructuring (2010)
Coauthor(s): Lynne Sagalyn, Yasmine Uzmez

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111 Eighth Avenue: Recapitalizing the Opportunistic Buy (2010)
Coauthor(s): Jane Yang '10, Jeffrey Barclay, Lynne Sagalyn

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VNO and the EOP: Blackstone Transaction (2009)
Coauthor(s): Lynne Sagalyn

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Zenith Center (2012)
Coauthor(s): Lynne Sagalyn

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The Associate's Task: Financial Tales of Changing Place (2009)
Coauthor(s): Lynne Sagalyn

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The Mortgage for 1800 L Street (2012)
Coauthor(s): Lynne Sagalyn

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1372 Broadway (2009)
Coauthor(s): Lynne Sagalyn

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Research

Journal articles

The Use and Abuse of Blight in Eminent Domain In Fordham Urban Law Journal (2011)
Coauthor(s): Martin Gold, Lynne Sagalyn

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Public/Private Development: Lessons from History, Research, and Practice In Journal of the American Planning Association (2007)
Coauthor(s): Lynne Sagalyn

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The Halting Consolidation Revolution In Wharton Real Estate Review (2002)
Coauthor(s): Lynne Sagalyn

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Times Square: A Revisionist Lesson in City Building In Hermes (2000)
Coauthor(s): Lynne Sagalyn

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Negotiating for Public Benefits: The Bargaining Calculus of Public-Private Development In Urban Studies (1997)
Coauthor(s): Lynne Sagalyn

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Consolidation in the Real Estate Industry: Big vs. Strategic? Reflections on the Industry Structure of the Future In The Journal of Real Estate Investment Trusts (1997)
Coauthor(s): Lynne Sagalyn

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Institutional Options: Publicly Traded REITs and Privately Held Real Estate Investments In The Journal of Real Estate Investment Trusts (1996)
Coauthor(s): Lynne Sagalyn

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Conflicts of Interest in the Structure of REITs In Real Estate Finance (1996)
Coauthor(s): Lynne Sagalyn

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Downtown Malls and the City Agenda In Society (1990)
Coauthor(s): Lynne Sagalyn, Bernard Frieden

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Explaining the Improbable: Local Redevelopment in the Wake of Federal Cutbacks In Journal of the American Planning Association (JAPA) (1990)
Coauthor(s): Lynne Sagalyn

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Real Estate Risk and the Business Cycle: Evidence from Security Markets In Journal of Real Estate Research (1990)
Coauthor(s): Lynne Sagalyn

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Measuring Financial Returns When the City Acts As an Investor: Boston and Faneuil Hall Marketplace In Real Estate Issues (1989)
Coauthor(s): Lynne Sagalyn

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Bringing the Shopping Mall Downtown In International New Towns Association (1983)
Coauthor(s): Lynne Sagalyn, Bernard Frieden

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Books

Times Square Roulette: Remaking the City Icon (2001)
Coauthor(s): Lynne Sagalyn

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Cases in Real Estate Finance and Investment Strategy (1999)
Coauthor(s): Lynne Sagalyn

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Downtown, Inc.: How America Rebuilds Cities (1989)
Coauthor(s): Lynne Sagalyn, Bernard Frieden

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Chapters

Public-Private Engagement: Promise and Practice In Planning Ideas That Matter (2012)
Coauthor(s): Lynne Sagalyn

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Public-Private Partnerships and Urban Governance: Coordinates and Policy Issues In Global Urbanization (2011)
Coauthor(s): Lynne Sagalyn

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Commentary: Does a Rising Tide Compensate for the Secession of the Successful? Illustrating the Effects of Business Improvement Districts on Municipal Coffers In Municipal Revenues and Land Policies (2010)
Coauthor(s): Lynne Sagalyn

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Public-Private Partnerships In Local Planning: Contemporary Principles and Practice (2009)
Coauthor(s): Lynne Sagalyn

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Real Estate and the Local Planning Context In Local Planning: Contemporary Principles and Practice (2009)
Coauthor(s): Lynne Sagalyn

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Positioning Politics: Kelo, Eminent Domain, and the Press In Land and Power: The Impact of Eminent Domain in Urban Communities (2008)
Coauthor(s): Lynne Sagalyn

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Land Assembly, Land Readjustment and Public-Private Redevelopment In Analyzing Land Readjustment: Economics, Law and Collective Action (2007)
Coauthor(s): Lynne Sagalyn

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The Political Fabric of Design Competitions In The Politics of Design: Competitions for Public Projects (2006)
Coauthor(s): Lynne Sagalyn

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The Politics of Planning the World’s Most Visible Urban Redevelopment Project In Contentious City: The Politics of Recovery in New York City (2005)
Coauthor(s): Lynne Sagalyn

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Entrepreneurial Cities and Maverick Developers In Classic Readings in Real Estate and Development (1995)
Coauthor(s): Bernard Frieden, Lynne Sagalyn

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Meshing Public & Private Roles in the Development Process In Real Estate Development: Principles and Process (1995)
Coauthor(s): Lynne Sagalyn

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Public-Private Joint Ventures In The Office Building: From Concept to Investment Reality (1993)
Coauthor(s): Lynne Sagalyn

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Public-Private Partnerships: Business Relationships in Political Environments? In Will Decentralization Succeed? National, Regional and Local Development in Multi-Party Democracies: A Conference Report (1992)
Coauthor(s): Lynne Sagalyn

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Downtown Shopping Malls and the New Public-Private Strategy In Shared Power: What Is It? How Does It Work? How Can We Make It Work Better? (1991)
Coauthor(s): Bernard Frieden, Lynne Sagalyn

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Public Profit Sharing: Symbol or Substance? In City Deal Making (1990)
Coauthor(s): Lynne Sagalyn

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Downtown Shopping Malls and the New Public-Private Strategy In The Great Society and Its Legacy: Twenty Years of U.S. Social Policy (1986)
Coauthor(s): Lynne Sagalyn, Bernard Frieden

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Working papers

Cities as Entertainment Centers: Can Transformative Projects Create Place? (2013)
Coauthor(s): Amanda Johnson, Lynne Sagalyn

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The Recast Scope of Public Possibility: Lessons from Times Square In Conference Paper (2001)
Coauthor(s): Lynne Sagalyn

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Mediating Change: Symbolic Politics and the Transformation of Times Square In Paper (2001)
Coauthor(s): Lynne Sagalyn

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Leasing: The Strategic Option for Public Development (1993)
Coauthor(s): Lynne Sagalyn

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Public Development: Using Land as a Capital Resource In Lincoln Institute of Land Policy (1992)
Coauthor(s): Lynne Sagalyn

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Case studies

111 Eighth Avenue: Recapitalizing the Opportunistic Buy (2010)
Coauthor(s): Jane Yang, Lynne Sagalyn

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Structuring the Burnswell Joint Venture (2010)
Coauthor(s): Lynne Sagalyn

More Information

 

Centro: Debt Restructuring (2010)
Coauthor(s): Lynne Sagalyn, Yasmine Uzmez

More Information

 

Distressed Debt Investing: The Hancock Tower & Garage (2010)
Coauthor(s): Lynne Sagalyn, Yasmine Uzmez

More Information

 

Restructuring a Bank Loan in Default: Globex Storage Company (2010)
Coauthor(s): Lynne Sagalyn

More Information

 

VNO and the EOP: Blackstone Transaction (2009)
Coauthor(s): Lynne Sagalyn

More Information

 

1372 Broadway (2009)
Coauthor(s): Lynne Sagalyn

More Information

 

The Associates Task: Financial Tales of Changing Place (2009)
Coauthor(s): Lynne Sagalyn

More Information

 

The Mortgage for 1800 L Street (2009)
Coauthor(s): Lynne Sagalyn

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Zenith Center (2009)
Coauthor(s): Lynne Sagalyn

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Book reviews

Book Review: The Politics of Urban Beauty: New York and Its Art Commission (Michele Bogart) In Journal of Urban Design (2008)
Coauthor(s): Lynne Sagalyn

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Ideas and Insights

In Urban Markets, Real Estate Opportunities Are Unprecedented (2016)

 

In the Media

Cuomo Leaves an Outsized Mark on De Blasio's New York City

Politico

 

The Toxic Secret underneath the Seaport

The New York Times

 

If You Gild It, Will They Come?

The New York Times

 

Two World Trade Center Remains Unbuilt, Stalled by Lack of Anchor Tenant

Newsday

 

Kushners May Have to Give up Ownership of Indebted NYC Office Tower

Bloomberg News

 

 

Last Updated September 01, 2020