When the Javits Center goes
green on April 21 - 22, it’ll come at a perfect time for the New York State
real estate industry.
For one thing, the annual Green Festival coincides with the highest gas prices ever recorded for this time of year. That makes Manhattan, which has already nicely weathered the economic storm, even more attractive to people who want to skip the commute.
For another, sustainability is showing up as an attention-worthy amenity - alongside river views and exercise rooms – in New York apartments, condos and coop marketing pitches.
PlaNYC
And, finally, the yearly eco-fest jibes with the findings of the NYC master plan, which suggests that developers, builders and retrofitters should paint the town even greener. The PlaNYC document outlines the ways the city can accommodate a projected one million new residents. It reveals that residential and commercial structures currently generate 75 per cent of the city’s greenhouse-gas emissions. Considering that most of these buildings will still dominate the skyline in 2030, it argues that efforts to cut the city’s carbon footprint should begin soon.
That said, retrofitting an existing building is tough,
expensive, and can run afoul of NYC’s 50-year-old zoning codes. Try to
add insulation, and you could violate guidelines for floor space. Add a roof
garden, and you might exceed the building’s allowable height. Or tack on
awnings for shade, and you could broach the building’s geographical footprint.
The old
and the new
Some existing structures take the plunge
anyway. The 16 story Citizen on West 23rd Street is being renovated by
the same folks who upgraded Harsen House on West 72nd Street in 2008. There,
they added hot water radiant heat, FSC-certified oak floors, ducted kitchen
hoods, and energy-efficient, floor-to-ceiling windows, all according to code.
It’s easier, albeit still pricey, for new construction. Not
surprisingly, many new glass-and-steel towers are seeking a LEEDS certification,
literally the gold standard for sustainability. One such building is the Helena
- 39-sparking stories hugging the Hudson on 57th street. It ranked among
GreenHomeNYC.org’s most energy-efficient structures, alongside the enormous Via
Verde project in the Bronx.
That said, retrofitting an existing building is tough,
expensive, and can run afoul of NYC’s 50-year-old zoning codes. Try to
add insulation, and you could violate guidelines for floor space. Add a roof
garden, and you might exceed the building’s allowable height. Or tack on
awnings for shade, and you could broach the building’s geographical footprint.
The old
and the new
Some existing structures take the plunge
anyway. The 16 story Citizen on West 23rd Street is being renovated by
the same folks who upgraded Harsen House on West 72nd Street in 2008. There,
they added hot water radiant heat, FSC-certified oak floors, ducted kitchen
hoods, and energy-efficient, floor-to-ceiling windows, all according to code.
It’s easier, albeit still pricey, for new construction. Not
surprisingly, many new glass-and-steel towers are seeking a LEEDS certification,
literally the gold standard for sustainability. One such building is the Helena
- 39-sparking stories hugging the Hudson on 57th street. It ranked among
GreenHomeNYC.org’s most energy-efficient structures, alongside the enormous Via
Verde project in the Bronx.
As a buyer, sure, I would feel great about living in more green surroundings. But, I honestly don't know though how much more I would be willing to shell out. There are so many variables involved in the choice - but if it were available, this would be a big consideration in that decision.
ReplyDeleteI specialize in sustainable building & I've found that clients are willing to pay more for the tangible products - water saving fixtures, energy efficient appliances, anything that will save on energy bills. But there is also a conscious effort to select interior finishing products that are low on emissions - FSC certified flooring, natural stone, low VOC paints etc.; again things they can see & touch. I always advise my clients that building with eco friendly systems/products runs about 15% more, but the educated buyer understands that & is willing to pay. The strongest market is the boomers - they want it & are willing to pay for it.
ReplyDeleteTricky question. My feelings are almost identical to Harry F. With my income having dropped considerably over the past year, I'd have to look at each possible residence individually and base my decision on my financial prognosis at that moment. Solar panels, energy saving appliances, low-water commodes? All sounds great.
ReplyDeleteIt's a matter of time, deciding when to bite the bullet of sustainability that must be bitten. Happily, the eco look is a good, cool look - the nice floor finishes, green roofs, solar panels, etc. making it even more of a "must have." Too bad it's so expensive, but then, so are so many worthy things. It's always interesting to consider how I might spend money I don't have
ReplyDeleteIf you can afford to live in Manhattan, the extra cost of living green may be financially acceptable--particularly when weighed against the health benefits of doing so. Plus, it may appeal to your ideological values.
ReplyDeleteSeparately, will the value of going green increase the resell value of the property? If so, when and by how much? Do you plan to live in the property long enough to reap the profit?