At 277 Park Avenue, Cortex Intel has reduced the annual operating costs by $700,000, adding to the asset value. The technology has delivered a 9% reduction in energy consumption.

Bryan Bennett, CEO and founder of Cortex, says throughout all companies using the software, there is an 8% average reduction in energy consumption. The company notes that this is the equivalent to removing 850 cars from the road.

At 110 William Street, New York-based investment management firm Savanna, introduced the app 18 months ago. Nicholas Bienstock, co-managing partner at Savanna, says the building's annual operating costs have been reduced by $250,000, which translates into a property valuation increase of approximately $5 million. The building has also experienced an 11% reduction in energy consumption.

The historic Woolworth Building has also adopted the technology and has already seen immediate results, according to the Witkoff Group, which owns the office space in the building. “Seemingly small, individual decisions made every day in the management of an office building can multiply into a significant impact on the annual bottom line, and on the environment as well,” says Scott C. Alper, president and chief investment officer of Witkoff Group. He notes with Cortex Intel, the Woolworth Building achieved an annual reduction in operating costs of over $100,000. It also benefitted from a 5% reduction in energy use.

Cortex is deployed nationally and across 10 million square feet of office property in New York City.