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 Development, Entrepreneurship, Investment Strategy, Public / Private Partnerships, Real 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
Note on Forms of Real Estate Ownership (2016)
Coauthor(s): Lynne B. Sagalyn
Note on Legal Concepts for Real Property ()
Coauthor(s): Lynne B. Sagalyn
Note on Zoning Regulations (2016)
Coauthor(s): Lynne B. Sagalyn
330 North Wabash (2016)
Coauthor(s): David Linn Reynolds, Lynne B. Sagalyn
Designing a Strategy for Growth: Olshan Properties and the Transition to a Second Generation Company (2015)
Coauthor(s): Lynne B. Sagalyn
Aligning Incentives: JV Opportunity for a Private Equity Real Estate Fund (2015)
Coauthor(s): Lynne Sagalyn
Use of Capitalization Rates in Real Estate Financial Analysis (2014)
Coauthor(s): Tod McGrath, Lynne Sagalyn
Note on the Mortgage as a Security Interest (2014)
Coauthor(s): Lynne Sagalyn
The Mortgage for Pacific Tower (2014)
Coauthor(s): Lynne B. Sagalyn, Jennifer Morgan
The Trianon (2014)
Coauthor(s): Lynne Sagalyn
Archstone From 2007 to 2013 Who Said Life was Easy? (2014)
Coauthor(s): Lynne B. Sagalyn, Jared Nutt '13
Hostel, Friendly, or Both? The American Hotel (2013)
Coauthor(s): Scott Shapiro, Lynne Sagalyn
Distressed Debt Investing The Hancock Tower & Garage (2012)
Coauthor(s): Lynne Sagalyn
Capturing the Chrysler Building (2009)
Coauthor(s): Lynne Sagalyn, Rona Smith
Fractured Condominium Investment Opportunity: Sierra Vista (2012)
Coauthor(s): Troy Daniel, Michael Gusich, Lynne B. Sagalyn
Battling Over a New York Workout: The W Hotel Strategy (2012)
Coauthor(s): Lynne Sagalyn, Fred Knapp '12
Note on Risk Analysis for Real Estate (2012)
Coauthor(s): Lynne Sagalyn
Liquidity-Driven Investment Opportunities: Mayfair House (2012)
Coauthor(s): Lynne Sagalyn
Soho Loft Building Pricing the Entrepreneur’s Development Risk (2013)
Coauthor(s): Eric D. Hadar '89, Lynne Sagalyn
Debating Strategic Directions in a Changing Investment Landscape: AREA Property Partners (2012)
Coauthor(s): Lynne Sagalyn, Rona Smith
The Acquisition of Corus Bank (2011)
Coauthor(s): Rona Smith, Lynne Sagalyn
Putting Back the Pieces of Ownership: The Madison Building (2011)
Coauthor(s): Lynne Sagalyn
Bryant Park Tower (2011)
Coauthor(s): Lynne Sagalyn, Nicholas Bienstock, Chris Schlank
Structuring the Burnswell Joint Venture (2010)
Coauthor(s): Lynne Sagalyn
Restructuring a Bank Loan in Default: Globex Storage Company (2010)
Coauthor(s): Lynne Sagalyn
Centro: Debt Restructuring (2010)
Coauthor(s): Lynne Sagalyn, Yasmine Uzmez
111 Eighth Avenue: Recapitalizing the Opportunistic Buy (2010)
Coauthor(s): Jane Yang '10, Jeffrey Barclay, Lynne Sagalyn
VNO and the EOP: Blackstone Transaction (2009)
Coauthor(s): Lynne Sagalyn
Zenith Center (2012)
Coauthor(s): Lynne Sagalyn
The Associate's Task: Financial Tales of Changing Place (2009)
Coauthor(s): Lynne Sagalyn
The Mortgage for 1800 L Street (2012)
Coauthor(s): Lynne Sagalyn
1372 Broadway (2009)
Coauthor(s): Lynne Sagalyn
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
The Halting Consolidation Revolution In Wharton Real Estate Review (2002)
Coauthor(s): Lynne Sagalyn
Times Square: A Revisionist Lesson in City Building In Hermes (2000)
Coauthor(s): Lynne Sagalyn
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
Institutional Options: Publicly Traded REITs and Privately Held Real Estate Investments In The Journal of Real Estate Investment Trusts (1996)
Coauthor(s): Lynne Sagalyn
Conflicts of Interest in the Structure of REITs In Real Estate Finance (1996)
Coauthor(s): Lynne Sagalyn
Downtown Malls and the City Agenda In Society (1990)
Coauthor(s): Lynne Sagalyn, Bernard Frieden
Explaining the Improbable: Local Redevelopment in the Wake of Federal Cutbacks In Journal of the American Planning Association (JAPA) (1990)
Coauthor(s): Lynne Sagalyn
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
Books
Times Square Roulette: Remaking the City Icon (2001)
Coauthor(s): Lynne Sagalyn
Cases in Real Estate Finance and Investment Strategy (1999)
Coauthor(s): Lynne Sagalyn
Downtown, Inc.: How America Rebuilds Cities (1989)
Coauthor(s): Lynne Sagalyn, Bernard Frieden
Chapters
Public-Private Engagement: Promise and Practice In Planning Ideas That Matter (2012)
Coauthor(s): Lynne Sagalyn
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
Real Estate and the Local Planning Context In Local Planning: Contemporary Principles and Practice (2009)
Coauthor(s): Lynne Sagalyn
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
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
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
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
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
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
Mediating Change: Symbolic Politics and the Transformation of Times Square In Paper (2001)
Coauthor(s): Lynne Sagalyn
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
Structuring the Burnswell Joint Venture (2010)
Coauthor(s): Lynne Sagalyn
Centro: Debt Restructuring (2010)
Coauthor(s): Lynne Sagalyn, Yasmine Uzmez
Distressed Debt Investing: The Hancock Tower & Garage (2010)
Coauthor(s): Lynne Sagalyn, Yasmine Uzmez
Restructuring a Bank Loan in Default: Globex Storage Company (2010)
Coauthor(s): Lynne Sagalyn
VNO and the EOP: Blackstone Transaction (2009)
Coauthor(s): Lynne Sagalyn
1372 Broadway (2009)
Coauthor(s): Lynne Sagalyn
The Associates Task: Financial Tales of Changing Place (2009)
Coauthor(s): Lynne Sagalyn
The Mortgage for 1800 L Street (2009)
Coauthor(s): Lynne Sagalyn
Zenith Center (2009)
Coauthor(s): Lynne Sagalyn
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
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
The Toxic Secret underneath the Seaport
If You Gild It, Will They Come?
Two World Trade Center Remains Unbuilt, Stalled by Lack of Anchor Tenant
Kushners May Have to Give up Ownership of Indebted NYC Office Tower
Last Updated September 01, 2020