The New York University Schack Institute of Real Estate, founded in 1967, announced its first-ever scholarship from a residential real estate firm earlier this month.

Prudential Douglas Elliman, one of New York’s largest residential real estate brokerages, with more than 60 offices and more than 3,800 agents in New York City and surrounding areas, pledged $100,000 to a scholarship fund for students at the institute.

The Douglas Elliman Scholarship will provide $20,000 a year for five years to the fund that will be shared by academically successful students with 24 or more credits toward a master’s degree in either real estate or real estate development and who have demonstrated financial need. A maximum of two students each spring and fall semester will receive financial aid from the scholarship fund.

"The Douglas Elliman Scholarship will help to guide the next generation of top real estate professionals and give students access to funds not otherwise available," said Dottie Herman, CEO of Prudential Douglas Elliman.

The NYU Schack Institute of Real Estate is part of NYU’s School of Continuing and Professional Studies. Roughly 600 full- and part-time students from 30 countries are enrolled at the institute, which has graduated close to 2,500 professionals.

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