What We Heard: NYC Sustainability Summit

RDM was in attendance at the Bisnow 4th Annual NYC Sustainability Summit.  The event brought together leading real estate and environmental experts who analyzed the challenges and opportunities for firms looking to enhance their environmental policies.

The panel included specialists and directors from SL Green, Related, Honest Buildings, Brookfield Office Properties, Jonathan Rose Companies, Edwards & Zuck, Code Green Solutions and Con Edison.

• Katherine Kluefer (Con Edison) notes that ConEd’s Demand Response programs seek to lower the usage of electricity during peak hours and offer financial incentives for participants.

• Zoe Reich (Edwards & Zuck) believes CoGen solutions are a sustainable way to generate power, reduce emissions, and save money.

• Charlotte Matthews (Related) thinks full disclosure regarding material toxicity levels is extremely important however not a big focus yet in NYC.  She also sees too often oversized water and electrical configurations.

• Hudson Yards will have a large CoGen facility to support both residential and commercial facilities, a thermal loop, and energy center.  This set up will help regulate and distribute energy from a central location rather than each building having its own system.  The end result will be less energy consumption and cost savings.

• Jay Black of SL Green notes that LED lighting retrofits was the first step in SL Green’s sustainability plan which has thus far reduced risk and costs.  He also noted that the use of elevator screens is a good medium for educating tenants on sustainability.

• Wendy Rowen (Jonathan Rose Companies) mentioned you should start with the windows, roof, and building systems to create energy efficiencies.  She also noted that employing “gamification” with tenants to reduce energy consumption works.  For instance, they had a “Turn it Off Challenge” which produced favorable results and modified tenant behavior.

• Roman went on to say that she anticipates increasing levels of energy regulation and feels its prudent for owners to fully get onboard or their buildings will lose value.

• Christopher Cayten (Code Green Solutions) is seeing owners of all sizes placing a greater emphasis on energy star and benchmarking in NYC.

• Stefan Dembinski (Brookfield) hasn’t always seen LEED certification for buildings having a significant impact on leasing decisions for tenants. He also mentioned that there’s many green energy options tenants can take advantage of NYC. 

• Yusha Hu (Honest Buildings) thinks owners need to focus on sustainability to attract tech tenants to their buildings as this is important for the image of these companies.

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Post Sandy: RDM Tours 125 Broad Street

RDM was recently invited to an exclusive building tour of 125 Broad Street; an event organized by the NAIOP NYC Chapter and guided by members of the Cushman & Wakefield property management team.

125 Broad is located in the financial district right on the water’s edge, roughly 1.4m sf in size, anchored by Sullivan & Cromwell, and has earned the distinction of LEED Silver Certified.

Unfortunately when Sandy came roaring through NYC last year, the building was left with three flooded basement levels about three acres in size - in fact, the flood level came within 12 inches of the lobby.  The building’s fuel tanks, electrical switch rooms, and Sullivan & Cromwell’s document storage were all housed in the lower levels. Fortunately though the fuel tanks did not break (this happened at 85 Broad); however, the switch room was destroyed as well as most of the legal documents.

Prior to Sandy 125 Broad had set in place flood precautions for a so called 100-Year Storm.  The storm surge sadly exceeded an aggressive (at the time) 5 foot flood plain estimate by 4 feet and made the building’s flood gates which were set up to prevent excessive water from entering via the street entrance to the underground garage levels brutally obsolete

Despite all the water, loss of power, and damage to the elevator shafts, 125 Broad was up and running within 2 weeks! The property management team credited this quick turnaround to having a staff with decades of experience at the building. For instance they understood quickly which parts/materials needed to be ordered and how best to set them up.  The amazing work done by the team resulted in the building being featured in the Wall Street Journal article, “New Stars Arise After Sandy," on November 12, 2012.

In preparation for this coming hurricane season, 125 Broad has moved the switch room to the lobby level and is looking to pressurize and seal the fuel rooms and elevator shafts in the lower levels, amongst other things. It was noted however by the property management team that even with the investment in flood prevention upgrades there is only so much that can be done but remain hopeful that enhanced precautions will mitigate damage from another super storm or at least not cost another plus $15m.

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