Tribeca Associates announced today that it has converted its utility usage at 30 Broad Street in the Financial District to 100 percent Green-e certified wind power, making the 85-year-old building energy efficient.This is a forward-thinking move on the part of Tribeca Associates, which purchased the property last year and immediately embarked on an extensive repositioning program.
While the use of green power and energy efficient building methods have become well-utilized in new commercial and residential construction, owners of older buildings have been slower to adopt such conversions, citing the costs associated. Most notably, the Empire State Building announced its conversion to green energy in 2011.
“Converting to ‘green’ energy sources was an important consideration as we planned the redevelopment of 30 Broad, and the timing was perfect to launch this initiative,” said Bill Brodsky, a founder of Tribeca Associates. “As individuals, businesses and governments become more environmentally conscious, increasing use of renewable energy will pave the way for a more sustainable future. In no place can we make more of an impact than in existing buildings and infrastructure, which use so much of the city’s power resources.”
Stanwich Energy Advisors coordinated the conversion for all landlord-purchased power, which included the procurement of energy certificates to accommodate the approximately seven million kilowatt hours 30 Broad consumes per year. As part of the program, funds from each purchase are placed in renewable energy bonds in upstate New York to promote the growth of green energy usage in New York City.
"It's a beautiful thing when you can do well by doing good,” said John O’Connell, managing principal at Stanwich Energy Advisors.“By entering into a green power contract, Tribeca Associates took advantage of a very favorable buying opportunity and set an example for all New Yorkers to follow. It was truly a privilege to work on behalf of a visionary property owner."
In addition to renewable energy, 30 Broad has also initiated an LED lighting retrofit throughout the building’s common areas and will soon introduce lighting and temperature controls aimed at reducing power usage when it’s not needed. All new office build-outs at 30 Broad are energy efficient, and the property recently launched a comprehensive recycling program to ensure all waste is properly discarded.
Leasing at 30 Broad is being handled exclusively by Newmark Knight Frank agents Andrew M. Peretz, Hal D. Stein, David E. Malawer and Daniel Appel.
About Tribeca Associates
Tribeca Associates is a private, New York-based real estate firm with a focus on the acquisition and development of hospitality, residential and commercial assets. With more than $2 Billion in real estate transactions, the firm has continually created outstanding value for its investors. Leveraging decades of experience in the Manhattan marketplace, the firm’s partners are guided by a hands-on entrepreneurial approach and high-level involvement in each project, resulting in the creation of exceptional assets. Tribeca Associates is known for developing unique mixed-use projects that capitalize on the market dynamics of each location, approaching each deal with limitless vision and creativity; signature projects include the Baccarat Hotel and Residences, The Smyth Hotel and Residences, and the Marriot Moxy at 143 Fulton Street. For more information, please visit www.tribecallc.com.
About Newmark Knight FrankNewmark Knight Frank (NKF) is one of the world's leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NKF's 14,100 professionals operate from more than 400 offices in established and emerging property markets on six continents.
With roots dating back to 1929, NKF's strong foundation makes it one of the most trusted names in commercial real estate. NKF's full-service platform comprises BGC's real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, appraisal, and valuation services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit www.ngkf.com.
NKF is a part of BGC Partners, Inc., a leading global brokerage company servicing the financial and real estate markets. BGC's common stock trades on the NASDAQ Global Select Market under the ticker symbol (NASDAQ: BGCP). BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol (NYSE: BGCA). BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit www.bgcpartners.com.
