The Real Estate Board of New York recently announced new benchmarking legislation that is part of the Greener, Greater Buildings Plan passed by the New York City Council in 2009 and will require all buildings in New York to meet minimum standards for energy consumption. Beginning this August, building managers will have to track and verify their buildings’ water and energy consumption and expenses, and prove they are meeting the new standards. What does this mean for the value of green real estate in the future? According to Naomi Muramatsu, sales director of the TriBeCa office of the real estate firm Bond New York, even though people may
Riverhouse photographed by Lana De Doncker; “Green goes Glam” photographed by David Van Scott.
most recently constructed green condominiums in the area. The first, called Solaire, was developed and built in 1998 by the progressive Albanese Group, which constructed it to meet not only the BPCA’s guidelines, but also the U.S. Green Building Council’s LEED guidelines, which are generally recognized as the gold standard for green buildings in this country. With the bar set high, all of the eight other new residential condominiums and rental structures in the area, including The Visionaire, The Verdesian, Riverhouse, Tribeca Green, Millennium Tower, Liberty Luxe and Liberty Green, The Residences at The RitzCarlton and its neighboring hotel were also built to achieve LEED Gold or Platinum status. While Battery Park City may be leading the great green way, other areas of Downtown and the rest of the city will soon be following suit, at least as far as energy consumption is concerned.
n buildings Interior of bach’s riverhouse home.
pay a modest premium for the green features, they’ll be reaping the rewards over the long haul. “If you pay 5 to 10 percent more to live in a new green development it makes sense because you won’t have to absorb the cost of retrofitting an old building,” she says. Yet another reason why going green is good. —JEAN NAyAR
Nayar is an author, design journalist and licensed real estate agent.
right: “Green goes Glam” 1940’s inspired lounge created with 80 percent sustainable, renewable or recycled materials.
Ways To Green
1. conduct a Home Energy Analysis. This will pinpoint where you can conserve natural resources and also save tons of money on energy and water bills. 2. Buy from Local Vendors. This is not only a great way to support your community, but it’s also effective at cutting gas and energy use on long shopping trips and lowers your carbon footprint. 3. Select Furniture and Floor wood with a Faster Renewable Rate. Bamboo and Mango are both elegant and environmentally friendly. 4. Repurpose. Refurbish old furniture or purchase antiques when possible. 5. Use Non-Volatile Organic compounds (VOc) Paints and Products. Be sure to select cabinets and furniture with no urea-formaldehyde. That new-house smell so many love is actually toxins being released into the home. Tips courtesy of certified Interior Designer Blanche Garcia, of B. garcia designs, is recognized by the U.S. Green Building Council as a LEED Accredited Professional. —LAUREN mATINA