On March 24, 2009, a Sustainability Shoptalk event hosted by the Newman Real Estate Institute will tackle one of the toughest barriers to sustainability in New York City — commercial leasing practices that needlessly perpetuate widespread energy inefficiency and inflate energy bills.
“From the White House to the State House to City Hall, the subject of energy efficiency has moved front and center,” observes Jack S. Nyman, the Institute’s director. “But to a shocking extent, serious disconnects, misaligned incentives, and knowledge gaps still prevail locally. We want to equip key real estate industry players with the information they need to realize the financial and tax benefits that energy efficiency delivers and to achieve sustainability goals.”
Commercial real estate occupies more than 500-million square feet within the City, most of it in large multi-tenant buildings built over thirty years ago. Mayor Michael Bloomberg’s plaNYC 2030 targets the sector for significant reductions in the City’s carbon footprint.
Titled “Real[i]ty Show: The Green Leasing Toolkit,” the Institute’s Shoptalk event is designed for property owners and managers, tenants, brokers, and attorneys. Speakers will discuss systemic problems that result in wasted energy, the conventional leasing practices that impede building retrofits, new leasing concepts that overcome these barriers, and the financial and tax benefits that retrofits and better metering can deliver. Following a discussion of successful negotiating techniques by George Donohue, author of Real Estate Dealmaking, the event will culminate with a mock negotiation illuminating key green-leasing issues and how to resolve them.
Other participants will include Nancy Anderson, The Sallan Foundation; Jacob Bart, Stroock & Stroock & Lavan LLP; Nicholas D’Alessandro, KPMG; Susan Kaplan, Battery Park City Authority; Constantine Kontogiannis, Odyssey Energy Solutions; Sean Neil, Cycle-7; Gary M. Rosenberg, Rosenberg & Estis, P.C.; and L. Stanton Towne, Studley.
The Newman Institute’s Sustainability Shoptalk series was launched in November 2008 to help advance the knowledge base and accelerate the massive knowledge transfer needed to make sustainability the norm in the metropolitan New York area.
The third event in the series, to be held later this year, will drill down into financial and tax topics: savings that companies are realizing by adopting their own energy policies, and how to take advantage of the plentiful array of incentives — bonus accelerated depreciation, expensing of “soft” costs, tax credits and deductions, financing, and direct rebate provisions — available through the new federal economic stimulus package; the federal Energy Policy Act of 2005; federal, state, and local tax codes; and the New York State Energy Research and Development Authority. Many more Shoptalk events are planned.
The Green Leasing event will be held from 8:30 a.m.-12:30 p.m. at the William and Anita Newman Conference Center, Room 750, 151 East 25th Street, New York, NY 10010. Pre-registration is encouraged, at www.baruch.cuny.edu/realestate.
The Steven L. Newman Real Estate Institute addresses issues important to the real estate industry and public policy, through interdisciplinary applied research and public events. It also offers non-degree courses in real estate. Its curriculum includes a new Certificate in Sustainability program.