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Manhattan's Green But Not Greenest

NEW YORK CITY-A study from Cushman & Wakefield and BetterBricks puts San Francisco at the top of the first-ever Green Building Opportunity Index.

By Paul Bubny | Updated on March 25, 2010

NEW YORK CITY-Although Manhattan rates high in most key metrics, San Francisco tops the list of the 25 largest office markets for green opportunities, according to a study from Cushman & Wakefield and the Northwest Energy Efficiency Alliance’s BetterBricks initiative. Midtown ranks third and Downtown seventh in the Green Building Opportunity Index, which rates leading US office markets based on both real estate fundamentals and sustainable development considerations. Rounding out the top five are Oakland, CA; Los Angeles; and Chicago.

“These results highlight the importance of both public and private entities considering market economic opportunities hand-in-hand with the incentives, policies and cultural considerations that are critical for green building,” says Theddi Wright Chappell, managing director and national practice leader of C&W’s national green building and sustainability practice, in a release. “If it’s not financially sustainable, it’s not sustainable.”

Reportedly the first of its kind, the index compares a market’s relative position to its peers in six categories: office market conditions, investment outlook, green adoption and implementation, local mandates and incentives, state energy initiatives and green culture. The top three markets in the local mandates and incentives ranking were Manhattan’s three submarkets, and Downtown also led the way for green culture, followed by Portland, OR and Miami.

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