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Deals & Dealmakers

Rudin launches smart building tech firm Prescriptive Data

The Rudin Family, one of New York City’s largest private owners, operators and developers, announced that it has created a new technology company called Prescriptive Data and will bring to market a new operating system for the built environment, named Nantum, powered by MongoDB.

The Nantum system – which is being launched during this week’s Realcomm IBCon conference in Silicon Valley – is a smart building platform that collaboratively and organically integrates all building systems into one cockpit-style control panel.

The software works to save money, make tenants more comfortable and increase energy efficiency in commercial office buildings and multifamily properties. It also offers real time commissioning 365 days a year, 24 hours a day.

Designed to function as a “brain” of a property, Nantum utilizes cloud technology to gather building data in real-time.

It collects information about building occupancy, electric demand, outside weather and other factors to maintain optimal indoor temperatures and the most efficient use of energy onto a single screen.

Using information correlated from elevators and turnstiles, the system “learns” from past data to predict daily energy usage and generate recommendations to optimize the way a building runs.

For example, the turnstiles in the building “talk” to the cooling and heating system, so that the temperature can be adjusted based on building occupancy.

In addition, the system responds quickly to spikes and other patterns to help owners save energy, such as the “lunchtime dip” when many people leave the building.

Currently, Rudin is using Nantum in 17 of their New York City buildings, including 15 commercial buildings and two residential towers, totaling approximately 10 million square feet overall.

The system is currently providing energy savings of between 10 and 13 percent in the Rudin portfolio, ranging from 40 to 50 cents per square foot, depending on the number of hours the building operates on an annual basis.

“As owners, our job is to focus on making our residents, our occupants and our commercial office tenants as comfortable as they possibly can by utilizing the least amount of energy possible,” said John Gilbert, Executive Vice President and Chief Operating Officer at Rudin Management.

“Nantum allows our properties to have continuous, real-time commissioning, thus allowing our customers to receive the highest possible levels of service all while saving money and electricity. We are extremely excited by the prospects of this new system and will be working with our partners to market this system to other property owners and tenants.”

The Rudins have been at the forefront of building technology for years, developing 55 Broad Street, the first totally wired office building in in New York City; redeveloping 32 Avenue of the Americas, one of the most historically significant telecom buildings in New York; and developing 3 Times Square, a skyscraper home to media giant Thomson Reuters’ North American headquarters.

Its latest residential project the Greenwich Lane will be completed later this year.

Last month, the company will broke ground on Dock 72, a 675,000 s/f commercial development that will cater to the technology and creative industries in Brooklyn, and earlier in the year, WeWork launched its “WeLive” residential co-living concept at Rudin’s 110 Wall Street.

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