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Mitchell Adelstein

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Adjunct Assistant Professor

Mitchell Adelstein has been an adjunct faculty member with Columbia GSAPP’s MSRED real estate program for over 20 years. Over 1,000 MSRED students have attended his lectures on Deal Underwriting, Debt Financing, Equity Syndication, and Opportunistic Investment. Professor Adelstein’s Dealmaking class features guest lectures and panel discussions with industry-leading MSRED alumni, dealmakers, and Wall Street financiers, and includes a final Mock-Transaction Case Study.

In the past 35 years, Professor Adelstein’s professional career included 12 years in Public Accounting, three years in Finance, and 25 years as Founder & President of Capstone Realty Group, Inc. In the past two decades, Capstone acquired, financed, developed, or renovated over 4.5M SF of iconic office, hotel, and apartment projects. Capstone was a General Partner in over $600M in commercial transactions, including $250M in defaulted mortgage acquisitions and foreclosures. In the late 1990’s, Professor Adelstein worked as a Real Estate Investment Banker where he arranged over $2.0 billion in debt & equity for hotel and office projects in the US, Canada, and Latin America. He started his career at Ernst & Young and Laventhol & Horwath, both leading hospitality accounting firms, as an MAI Certified Real Estate Appraiser advising banks, creditors, debtors, developers, insurers, and pension funds on complex valuation, bankruptcy & restructuring, and corporate finance matters.

Professor Adelstein is an avid equestrian and polo player at Cypress Polo and International Polo Club in Florida and Mashomack Polo in the Hudson Valley. His professional affiliations include MAI-Appraisal Institute, CRE-Real Estate Counselors, Urban Land Institute, Pension Real Estate Association, and National Council of Real Estate Investment Fiduciaries. He graduated from NYU (MS, Real Estate Investment) and Syracuse University (BA, School of Management).

Courses

Course Semester Title Student Work Instructor Syllabus Requirements & Sequence Location & Time Session & Points Call No.
Pla6376‑1 Summer 2025
The Dealmaking Process
Mitchell Adelstein
113 AVERY
TH 4-6:30 PM
SES B
1.5 Points
10674