NYC Adopts Green Leases - Go Green For Earth Day 2011

By
Real Estate Agent with The Corcoran Group

Earth photo by Astronaut Sunita Williams

Earth photo by Astronaut Sunita Williams

 

Downtown Manhattan is quickly becoming the world's greenest and most dynamic urban community. I thank the City of New York for taking leadership on this issue.


Silverstein Properties and Newest 7 World Trade Center Tenant, law firm WilmerHale,

Are First to Adopt Green Lease Language Crafted by Mayor’s PlaNYC Team


7 World Trade Center lease, which is the first to incorporate groundbreaking language crafted by industry leaders working with the Mayor’s Office of Long-Term Planning and Sustainability to promote enhanced energy efficiency and sustainability. Under traditional leases, building owners are responsible for the upfront cost of energy efficiency improvements. Tenants, however, are the immediate beneficiaries of those upgrades, in the form of reduced energy costs.

Because owners do not share in the benefit, they have little incentive to invest in energy upgrades. Building on the insights developed by the Natural Resources Defense Council (NRDC) Green Lease Forum, the Mayor’s Office of Long-Term Planning Sustainability brought together a group of real estate and energy efficiency experts and lawyer Mark Rauch to develop new commercial lease language that allows tenants, such as WilmerHale, and owners, such as Silverstein Properties, to share the costs, as well as the benefits, of energy efficiency improvements.

This agreement between Silverstein Properties and the law firm WilmerHale breaks new ground in the field of energy conservation – and we expect it will be a pioneering model for commercial leases,” said Mayor Bloomberg. “This is part of our broad campaign to increase the energy efficiency of large buildings all across the city. When it is fully realized, this ‘Greener, Greater Buildings Plan, the first of its kind in our nation – will be the equivalent of making a city the size of Oakland, California completely carbon neutral.”

 

Earth Day 2011, is April 22, What is your city doing? What are you doing?

 

Go Green for Earth Day:

 

green: Green-Real-Estate-Glossary

green: Green Resources / Services

green: Tips for Greening your Apartment or Home

green: Solar Energy New Yor City's Future AS A Sustainable City

green: Wind Turbines on NYC Skyscrapers & Bridges

green: New-York State-Green-Tax Incentives

green: Manhattan's New Eco Friendly Condo Developments

green: A GREENER, GREATER NEW YORK

green: Green NYC: TreesNYC Month - April

green: NYC Yellow Taxis "Green" by 2012

green: Grand Central Terminal Constellations Go Green and Twinke

green: Green Skating at The Polar Rink

green: Green NYC less vulnerable to High Oil prices

 

If you're interested in buying a new green (LEED) certified condo in Manhattan - go to new developments fill out the buyer form and write green in the comment section. I will send you email listings of green condos that match your buying criteria.

Courtesy of:

 

Mitchell Hall, Associate Broker, The Corcoran Group

Local and global real estate questions and referrals are always welcomed.

©Mitchell Hall 2006-20011

 

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Rainmaker
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Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Mitchell,

Great concept, and great photo of our planet.  Thanks for sharing this and have a great weekend. A

Apr 15, 2011 04:43 AM #1
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Lenn Harley
Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate - Leesburg, VA
Real Estate Broker - Virginia & Maryland

WOW!  Normally, I wouldn't be impressed with these programs becauae they are rarely cost effective.

However, in NYC, the numbers are more than likely to work. 

Very interesting.

Apr 15, 2011 05:05 AM #2
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Hannah Williams
Re/Max Eastern inc. - Philadelphia, PA
Expertise NE Philadelphia & Bucks 215-953-8818

Love reading your NYC posts ..Stand up and cheer for this one !

HelpfulHannah

Apr 15, 2011 07:47 AM #3
Rainmaker
594,330
Mitchell J Hall
The Corcoran Group - Manhattan, NY
Lic Associate RE Broker - Manhattan & Brooklyn

Hi Alexandra. Thank you. Have a great weekend!

Thak you Hannah,

Lenn, REBNY supports use of model lease language.

Apr 15, 2011 04:13 PM #4
Rainmaker
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David Popoff
DMK Real Estate - Darien, CT
Realtor®,SRS, Green ~ Fairfield County, Ct

I like this, NYC goes GREEN, great idea for other cities to copy.

Apr 16, 2011 05:21 AM #5
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. 4Terra Land Brokers .. 828-776-0779 Asheville NC
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NYC: I just heard that the EMPIRE STATE BUILDING has completed a TOTALLY GREEN REHAB!! at just 3% over traditional costs...so GO GREEN...and I'm featuring this post at the ECO-ALL_STARS GROUP...

Apr 18, 2011 10:04 AM #6
Rainmaker
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Mitchell J Hall
The Corcoran Group - Manhattan, NY
Lic Associate RE Broker - Manhattan & Brooklyn

David, Thanks for stopping by.

JaneAnne, Thanks for the feature. If the Empire State building can go green any building can go green!

Apr 18, 2011 12:54 PM #7
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Happy to FEATURE this post  at the Eco-All-Stars Group (1,200+ eco-friendly members)

 

Apr 26, 2011 05:20 AM #8
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Rainmaker
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Mitchell J Hall

Lic Associate RE Broker - Manhattan & Brooklyn
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