We’ve written about 1095 Sixth Avenue previously; the tower, owned by the Blackstone Group, sits across 42nd Street from LEED Platinum hopeful Bank of America Tower and is undergoing a two-year, $408.9 million renovation. Designed by Moed de Armas & Shannon Architects and Gensler, the entire shell of what was once the Verizon Building is being replaced, effectively creating an entirely new structure; the tower’s marble exterior is being replaced with an energy-efficient glass curtain wall. Unlike the Bank of America project, and despite its green features, 1095 Sixth Avenue is not seeking a LEED rating. Tishman Construction is the construction manager on the project. While it’s hard to draw any real conclusions from the deal, it’s notable that Dabroes Management, a hedge fund, just signed a five-year lease for 12,200 square feet on 1095 Sixth Avenue’s 24th floor. Asking rents for the prebuilt space were $135 per square foot.
September 23rd, 2008 | Stephen Del Percio | 0 comments | ContinuedNew York City
Saratoga County’s Clifton Park-Halfmoon Public Library Earns LEED Certification
The Clifton Park-Halfmoon Public Library, just to the northeast of Schenectady, recently earned formal LEED certification from USGBC. The 55,000-square-foot project was designed by architects Woodard Connor Gillies & Seleman of Albany and opened to the public back in December of 2006. NYSERDA served as a technical advisor on the project, which participated in the New York Energy $mart New Construction Program, and reviewed the proposed energy-saving features of the building proposed by the design team, which included high-efficiency windows, additional insulation, efficient lighting with occupancy control, efficient HVAC systems, and a digitally controlled building management system.
September 23rd, 2008 | Stephen Del Percio | 0 comments | Continued
Minerva Place: Green Affordable Condos in White Plains
We noted recently that Community Housing Innovations (”CHI”) has broken ground on the $4.5 million, affordable, green Minerva Place Condominiums in White Plains, but wanted to formally present you with a few more details about the project. Minerva Place is one of the first low-rise new developments in Westchester County to satisfy the New York Energy $mart Multifamily Performance Program guidelines. The project includes a 350-foot-deep geothermal heating and cooling system, as well as efficient insulation and construction techniques that CHI anticipates will save residents up to 30 percent on energy costs. Minerva’s energy-efficient features are being subsidized by a $55,000 grant from NYSERDA. The project was designed by Warshauer Mellusi Warshauer Architects and includes 11 two-bedroom (priced at $265,000) and 3 one-bedroom units ($225,000), each with hardwood floors and granite kitchen countertops. To qualify, families must have incomes between $73,000 and $91,000.
September 22nd, 2008 | Stephen Del Percio | 0 comments | Continued
ML: The Ericsson Barn at Milo Vineyards, Milo, New York (Video)
The Ericsson Barn at Milo Vineyards is a 5000-square-foot, four-bedroom home that’s currently for sale in the town of Milo in western New York State, just to the southwest of Rochester. The barn itself was actually salvaged from nearby Watertown in 2007 and was originally built in the 1800s. The project is the brainchild of Tom Johnson, a Parsons-trained designer who completed a similar renovation for himself back in 2005, spending $175,000 to relocate a 150-year-old barn from Canada and refurbish it on a separate plot in Milo. The Ericsson Barn is listed for sale at $1.25 million and was renovated pursuant to LEED specifications, though it’s unclear whether the project ever registered for or is seeking formal certification from USGBC. Johnson recycled the original siding of the barn into flooring and also installed a radiant sub-floor heating system.
September 22nd, 2008 | Stephen Del Percio | 0 comments | Continued
Green LITES: NYSDOT Introduces Sustainable Transportation Design Program
Earlier this week, the New York State Department of Transporation (”NYSDOT”) unveiled its Green Leadership In Transportation and Environmental Sustainability (”Green LITES”) design program. While NYSDOT has utilized sustainable elements in its transportation designs previously, Green LITES is an attempt to standardize the entire process and place New York State at the head of the pack when it comes to sustainable transportation design; the program, which is based on LEED, is the first in the country of its kind. “This effort is only the latest example of New York setting the standard for environmental sensitivity in transportation planning,” said Federal Highway Administrator Thomas J. Madison. “They don’t just set the gold standard, they set the green standard.” NYSDOT will review all designs submitted after September 25 under the Green LITES program, prior to the project going out to bid.
September 17th, 2008 | Stephen Del Percio | 0 comments | Continued
First Green Schools Guide-Certified School Opens Doors at 213 East 63rd Street
After taking effect earlier this year, the New York City Green Schools Guide and Rating System (“GSG”) now applies to all new school construction, modernization, and renovation projects in the five boroughs. The GSG and Rating System is based on LEED, but also incorporates elements from the Collaborative for High Performing Schools Rating System (developed by Washington, Massachusetts, and New York States) and the School Construction Authority’s Best Practices. It’s intended to complement Local Law 86 (which mandates LEED Silver for most public projects in New York City). Designed by Ehrenkrantz Eckstut & Kuhn Architects, the first school certified under the program opened for the academic year back on September 2 at 213 East 63rd Street.
September 16th, 2008 | Stephen Del Percio | 0 comments | Continued
The NoMad: NYC’s First Hotel Conversion to Seek LEED Rating
According to Crain’s, Michael Rawson, the head of GFI Hotel Co., is close to announcing plans for The NoMad, a 160-room renovation of a 12-story Beaux-Arts-style building on Broadway between 28th and 29th Streets just north of Madison Square Park (hence the moniker). Notwithstanding several new local hospitality developments that will seek LEED ratings, the project would be the first hotel conversion in New York City to pursue LEED certification, though specific green features have yet to be revealed. The project will feature 11 suites whose interiors will be designed by Jacques Garcia and also include a roof garden and restaurant. Mr. Rawson, who has worked closely with hotelier Andre Balazs on other projects including The Mercer, plans on opening the hotel in the fall of 2009.
September 16th, 2008 | Stephen Del Percio | 3 comments | Continued
Ardour Capital: Revenues Swell at Green Investment Bank
Profiled in last week’s small business report in Crain’s, Ardour Capital is a five-year-old investment bank that focuses exclusively on renewable energy and sustainable technology. Notwithstanding the persisting gloom on Wall Street (more on that in the context of green later this week), the firm expects revenues this year to top $10 million and double by 2009, up from $3.9 million in 2006. According to managing partner and co-founder Brian Greenstein, “[t]here’s a recognition that this sector is going to be one of the ones that grow.” Ardour’s 25 staffers review companies across the green power sector and then distill the technologies down for potential investors. Since opening its doors, Ardour has helped raised over $1 billion for 30 companies; earlier this year, it worked with California-based eco-friendly printer Colorep, Inc. in securing a $24 million private investment.
September 15th, 2008 | Stephen Del Percio | 1 comment | Continued
ML: Historic Installation for BBG-BBGM -CI Silver Space at Empire State Building
We wrote earlier this summer about Brennan Beer Gorman Architects / Brennan Beer Gorman Monk Interiors’ (”BBG-BBGM”) new headquarters space on the 25th floor of the Empire State Building, which will seek the tower’s first LEED for Commercial Interiors rating. Recently, the 32,000-square-foot project’s general contractor Aragon Construction installed BBG-BBGM’s HVAC system on the building’s first setback on the southwest corner. The two 9500-pound chillers will run independently from the rest of the Empire State Building and were designed to save BBG-BBGM 15 percent on energy consumption over ASHRAE standards. The installation was actually the first in the history of the building and suggests some of the intricacies of both green construction contracts and leasing provisions, including whether the landlord or tenant should be responsible for the installation of such equipment and how any associated savings that are realized might be shared between the two sides.
September 15th, 2008 | Stephen Del Percio | 0 comments | Continued
Anchor Tenant is Credit Crunch Casualty at SJP Properties’ LEED Gold Hopeful 11 Times Square
The New York Observer today confirmed a story that first appeared in Real Estate Weekly a couple of weeks ago (which we noted here at gbNYC) regarding the French bank Natixis, which has been on the hunt for office space in Manhattan since earlier this year. It appears that the bank is close to inking a deal to sublease 270,000 square feet at 277 Park Avenue from JPMorgan Chase, which is moving into the former headquarters of Bear Stearns at 383 Madison Avenue. The deal would be a major blow for SJP Properties, which is still without an anchor tenant for its speculative, LEED Gold hopeful 11 Times Square that continues to rise along Eighth Avenue. The firm had held its asking rents steady in the $100 per square foot range, though the recent flood of Class A space that has become available from financial services tenants looking to downsize may force it to reassess its position, as Natixis will pay around $80 per square foot for its space at 277 Park.
September 9th, 2008 | Stephen Del Percio | 0 comments | Continued
ML: Magnusson Architects’ 1070 Anderson Avenue in the Bronx
1070 Anderson Avenue, designed by Manhattan-based Magnusson Architects is an 8-story affordable housing development in the Highbridge section of the Bronx that will offer 41 units in a variety of studio and one-, two-, and three-bedroom configurations. The $12 million tower’s design is inspired by principles of Art Deco and rises as a south-facing L, increasing the reach of natural light into each apartment and also creating a 6000-square-foot courtyard for residents to enjoy. Green roofs grace the seventh- and eighth-floor setbacks, while low-E, Energy Star-certified windows, an efficient rooftop boiler, and continuous exterior insulation will aim to lower the building’s utility bills. Other green features include low-VOC paints and materials, dual flush toilets, CFLs, and Kone Ecospec elevators. The building’s lobby includes local plants and shrubbery that will receive water from a rainwater collection system. Developer New Destiny Housing is considering applying for a LEED Silver rating, but will participate in an NYSERDA incentive program.
September 8th, 2008 | Stephen Del Percio | 0 comments | Continued
Price Chopper Aiming to Open New York’s First LEED-Certified Supermarket
Schenectady-based Price Chopper Supermarkets has broken ground in Colonie on what’s set to become New York’s first LEED-certified supermarket, just north of Albany. The 69,000-square-foot facility is scheduled to open up sometime in early 2009, and Price Chopper hopes to use the project as a template for future green supermarkets across the Northeast. A fuel cell from UTC Power will supply 60 percent of the supermarket’s electricity requirements, as well as 400 kilowatts of standby power in the event of a grid outage. The supermarket will recover heat from its refrigeration equipment and use it as space heating. Other green design features are LEED-standard, including locally-sourced construction materials and energy-efficient lighting.
September 4th, 2008 | Stephen Del Percio | 0 comments | Continued
LEED-EB for MTV (& SL Green) at 1515 Broadway in Times Square
SL Green has started a $160 million capital improvement program at 1515 Broadway- home to MTV’s Times Square studios- which will upgrade the tower’s HVAC, lighting, and other building systems in pursuit a LEED-EB Silver rating from USGBC. Designed by architects Kohn Pedersen Fox, the renovation will also include the installation of a 42-foot high extension to the 54-story building’s street-level curtain wall, where pedestrians can peer into the MTV space and access the lobby of the Minskoff Theater. Steve Cuozzo quotes SL Green leasing chief Steve Durels as stating that the firm’s “goal is to give [the building] more street presence and more drama, especially as you look at its lower part.” SL Green purchased the 2 million-square foot tower back in 2002 for $480 million, and its green upgrades come in advance of the pending expiration of nearly 1 million square feet of the total 1.5 million in the building currently leased by Viacom.
September 4th, 2008 | Stephen Del Percio | 0 comments | Continued
Heritage Realty Services to Seek LEED Rating for 200K S/F Commercial Property in Greenwich
New York City-based Heritage Realty Services recently purchased 200,000-square-foot 600 Steamboat Road in Greenwich, Connecticut for $200 million. The deal is scheduled to close this fall and Heritage plans to upgrade a variety of building systems, among other renovations. The 36-year-old waterfront property sits adjacent to Greenwich Harbor includes a 600-space parking garage and a 350-foot-long floating dock. Architects Roger Ferris and Partners are supervising the project and will seek an unspecified level of LEED certification for the upgrades. Greenwich-based Gladstone Real Estate is banking on asking rents of $150 per square foot in light of recent local deals and 660 Steamboat Road’s location near I-95, the Northeast Corridor train line, and waterfront access.
September 3rd, 2008 | Stephen Del Percio | 0 comments | ContinuedMarquiss Wind Power to NYC: Test Drive a Free Wind Turbine
Apparently unfazed by recent skepticism from local engineers and architects aimed at Mayor Bloomberg’s plans to install wind turbines on Gotham’s skyscrapers and bridges, California-based Marquiss Wind Power has offered to donate one of its turbine systems to the city in order to demonstrate that the Mayor’s idea is in fact viable. The company’s patented roof-top wind turbine is approximately 19 feet high and weighs less than a typical rooftop air conditioning unit. Its T500 model is optimized for low, variable wind, is rated at 5 kilowatts, and is priced between $30,000.00 and $60,000.00 depending on the specific configuration. According to Marquiss CEO Paul Misso, the company’s turbines should pay for themselves within four to eight years, “depending on wind speed, utility rates, and available incentives.” Last week, in the aftermath of Mr. Bloomberg’s remarks in Las Vegas, experts had questioned the efficiency of wind turbine installations on local high-rises.
August 26th, 2008 | Stephen Del Percio | 0 comments | ContinuedNew Space for Women’s Health Seeks LEED Gold in Midtown
Designed by Perkins+Will and Lilker Associates Consulting Engineers, the New Space for Women’s Health will be New York City’s first stand-alone birthing center, offering women and their families prenatal and postpartum care, childbirth education, social work, and psychological services. The three-story project is pursuing a LEED Gold rating from USGBC; green features will include efficient HVAC, water, and lighting systems, among other LEED standards. Lilker’s healthcare division sought to design a “relaxed and warm setting” for patients that simultaneously conserves energy. The team is also considering installing wind turbines and solar hot water panels. The 8000-square-foot project involves the conversion of a former parking garage on West 30th Street in Midtown and should open sometime in 2010.
August 26th, 2008 | Stephen Del Percio | 0 comments | Continued
ML: Credit Crunch Taking Bite out of Manhattan LEED Buildings
Two of Manhattan’s highest profile LEED projects took blows on the chin last week. After announcing in July that it would likely reduce the tower’s size by nearly a third, Vornado’s plans for Harlem’s first office tower in thirty years appear to be on the ropes. Despite generous tax incentives from both the city and state, Vornado has had difficulty obtaining financing for the Swanke Hayden Connell-designed Harlem Tower. Instead, the developer recently sought an additional $15 per square foot from planned anchor tenant MLB Network and, alternatively, also proposed building a five-story building exclusively for the network. The Times reports that both strokes “infuriated” MLB executives, who “wanted to be in a marquee tower on 125th Street.” Meanwhile, downtown, 2008 Pritzker Prize winner Jean Nouvel’s LEED-hopeful 100 Eleventh Avenue is currently $50 million over budget and close to a year behind schedule.
August 25th, 2008 | Stephen Del Percio | 0 comments | ContinuedBruce Ratner’s 80 DeKalb Avenue by Costas Kondylis
Designed by Costas Kondylis, Bruce Ratner’s 80 DeKalb Avenue will be the developer’s first residential tower to rise in Brooklyn. The controversial Mr. Ratner will seek LEED certification for the $200 million project, claiming that the 34-story tower will incorporate a variety of low-VOC materials and use low-flow plumbing fixtures. The project broke ground back in July; earlier this week, Mr. Ratner closed on hard-to-obtain $110 million in tax-exempt bond financing from the New York State Housing Finance Agency for the tower, which will feature 73 affordable and 292 market-rate units. Ratner plans on opening the project for leasing sometime next summer; the majority of the units will be studios and one-bedrooms.
August 22nd, 2008 | Stephen Del Percio | 0 comments | Continued
No Windmill For Empire State Building, After All (King Kong, Welcome Back!)
When New York Mayor Michael Bloomberg goes to Vegas, he bets big. At an alternative energy conference, perhaps bullied by T Boone Pickens, the mayor proposed installing wind turbines, among other power-generating technologies, on Manhattan’s skyscrapers and bridges. And why not: aiming to slash the city’s greenhouse emissions by a third by 2030 is rather ambitious. The mayor also proposed ocean wind farms off the coast and solar panels across the city’s rooftops. He’s dreaming big (Statue of Liberty powered by wind farms) while keeping the character of the neighborhood when it comes to the turbines (”If there is a large ape that starts climbing the Empire State Building, it might get in his way” - yes, that is our mayor speaking.
August 21st, 2008 | Alex Padalka | 1 comment | Continued
Final Asking Rents at LEED Platinum Bank of America Tower Hit $185/SF
Hedge fund HBK Investments, which last summer signed on for LEED Platinum hopeful Bank of America Tower’s 40th floor at $135 per square foot, has officially terminated its commitment for 12,000 square feet of that space. The Dallas-based firm will still retain 24,000 square feet on the 40th floor and the Dursts will now seek to lease the freshly freed space for an incredible $185 per square foot. The only space in the building that remains in addition to HBK’s former space is 30,000 square feet on the 37th floor, where the Dursts are asking the same rent; the family will consider partitioning either space into blocks for smaller tenants. According to Eric Engelhardt, one of Durst’s vice presidents for leasing, “[t]here is a greater universe of smaller tenants looking for high end space.”
August 20th, 2008 | Stephen Del Percio | 0 comments | Continued