Brookfield Mall at World Trade Center.
NEW YORK CITY – New York City has hastened its efforts to reduce buildings' greenhouse gas emissions throughout the boroughs, targeting properties 25,000 square feet or larger with a legislative package passed in April requiring owners to report their building energy efficiency in exchange for a letter grade to display by building entrances.
The new grade system springs from Local Law 33, which was introduced in 2017, signed into law in 2018 and tweaked in April of this year when New York City passed its sweeping Climate Mobilization Act.
Buildings ranging anywhere from a sprawling one-story office building to 70-stories tall will have to report their energy efficiency, which isn't a new concept.
For years, buildings have had to monitor and report their energy usage in a benchmarking practice to the city about what efforts they are taking or not taking to increase efficiency, which could include the replacement of old windows, swapping in LED lights or retrofitting a cooling plant.
For instance one of the city's largest landlords is wasting no time in making sure it is energy efficient, setting an example for other building owners who may be dragging their feet to when the city's report cards are rolled out in May 2020.
The Canada-headquartered asset management firm Brookfield Properties recently made a major upgrade to its main cooling plant at Brookfield Place, replacing major components, including the tube bundles and compressors, expanding the thermal storage system, and optimizing control mechanisms. Brookfield has reduced its total energy usage in terms of kWh by 20% from May through August, during the year's hottest months and earning energy rebates from Con Edison.
"There's a huge demand, and we're thinking about the future and how to retrofit the machines to set-up them up for the next 30 years," Daniel Kindbergh, executive vice president of operations at Brookfield Properties, tells GlobeSt.com.
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Mariah Brown
Mariah Brown is the New York Bureau Chief and Real Estate Reporter for GlobeSt.com, covering the New York Metro area, Northeast region and national real estate trends. She is responsible for producing multi-media content, including articles, podcasts and video. Before joining the GlobeSt team, she served as a New York Times fellow, reported for the Associated Press in New York and Philadelphia and several other New York City-based outlets.
