ML: 303 East 33rd Street- Sales Begin at Murray Hill’s First Green Condos

This 12-story, 128-unit development from Toll Brothers has opened its sales office with prices for 500-square-foot studios to 3000-square-foot three-bedrooms ranging from $635,000 to $4.5 million.

Developed by Toll Brothers and The Kibel Companies, sales have opened at 303 East 33rd Street, which is touting itself as Murray Hill’s first green residential project. The 12-story tower will feature 128 units and seek an unspecified level of LEED certification. Perkins Eastman is the architect; studios to three-bedrooms range from 500 to 3000 square feet and from $635,000 to $4.5 million.

LEED-standard green design features will include bamboo flooring and cabinetry, EnergyStar appliances and efficient water fixtures, while residents with hybrid cars will receive a parking discount. Demolition materials were recycled into the project’s structural components and low-VOC paints and carpets will be installed throughout. The tower will also bicycle storage place and a 5000-square-foot terrace with a pool and green roof.

As a brief, but important, aside, it doesn’t appear that the project is even registered with USGBC at this point, and from a legal perspective, note this quote in MHN from Kibel Companies’ principal Peter Levensen: “[w]e thought our customers would probably be concerned with [green] issues and feel better about buying in a LEED-rated building.

After this assurance that the project will, in fact, earn a LEED rating from USGBC, what happens if the project fails to achieve any level of LEED certification? While these types of statements might be considered advertising puffery, they’re a good example of how owners need to be careful in representing green projects to potential residential purchasers or commercial tenants, both in these types of press releases and printed marketing materials.

ML is short for our weekly Monday LEEDoff™ column, which typically profiles a different LEED project generally in (but not limited to) the New York City area. You can access an archive of profiled projects via this link.

About Stephen Del Percio

Stephen Del Percio has written for gbNYC+ since 2006 and currently serves as in-house counsel for one of the world's largest engineering, construction, and technical services companies. He earned a B.Eng. from Columbia, his J.D. at William & Mary, and lives in New York City with his wife and daughter. You can follow Stephen on Twitter, email him at stephen@gbNYC.com, or join gbNYC on Facebook to continue the conversation.

about gbNYC

gbNYC is a multi-disciplinary consulting and real estate services firm. In addition to representing office tenants and commercial buyers in leasing and acquisitions, we also provide innovative consulting solutions from a unique, green building perspective. We advise on green building financial incentives, comment on proposed green building marketing strategies, author white papers, treatises, and market analyses, organize seminars on the LEED process and professional accreditation, and provide advice and analysis on green building risk management and the overall state of green real estate, leasing, and construction, in New York City and beyond.

Our blog, the gbNYC+ journal of real estate, law, + sustainability, delivers consistent, original content - from a New York City perspective - on how technology, data, and sustainability are changing how we interact with our built environment. Subscribe below and receive new articles as they're published or connect with our social media presence to join our ongoing conversation about real estate and sustainability, in the Big Apple and beyond. Contact us at (201) 835-8530 or info@gbNYC.com for more information about our services and to discuss how we can assist you.

, , , , , , , , , , , , ,

No comments yet.
gbNYC Tenant Resources Feature

tenant resources

The commercial office leasing process is complicated. And so is figuring out where to start your search for office space in New York City. gbNYC's tenant resources - from our blog and leasing FAQ to our unwavering dedication to our clients and commercial real estate - can help you get the best possible deal for your next office, in the best location, and at the best price.
gbNYC Submarket Feature

submarkets

New York City is a big place, and figuring out the most suitable location for your office can seem like an insurmountable challenge. Our submarket guide demystifies Gotham's dizzying range of neighborhoods with profiles, articles, new developments, and recent leasing statistics like average asking rents and vacancy rates.
gbNYC Database Feature

office database

We've built a database of the best commercial properties in New York City, focused on LEED-certified, Energy Star-labeled, and historic office buildings. Search for your ideal office building by location, certification, size, or owner. Then contact us to discuss current availabilities and your specific office needs.