Real Estate Weekly
Image default
Featured Technology

Smart tech helps Rudin in race to cut carbon emissions

Rudin Management Company announced that it has reduced its overall carbon emissions by 44 percent percent across its Manhattan commercial portfolio.

The milestone puts the company well on its way to meeting its long-term energy reduction goal, a 50 percent reduction in greenhouse gas emissions (GHG) as part of the NYC Carbon Challenge, almost 10 years ahead of schedule.

The Carbon Challenge is part of a greater goal for New York City to reduce GHG by 80 percent before the year 2050.

Since accepting the Carbon Challenge in 2016, Rudin has moved aggressively to cut its energy use and emissions, realizing significant cost-savings throughout its commercial portfolio of 10.2 million square feet of office space in the process.

To meet its goal, Rudin has worked with its start-up subsidiary, Prescriptive Data, to integrate its new smart building technology, Nantum, throughout all its commercial properties.

Nantum captures data in real time so that building operators can make informed decisions that result in improved comfort conditions for tenants, energy efficiencies and savings.

The work has already reaped benefits for the environment. Since the baseline year of 2005, Rudin has reduced its greenhouse gas emissions by 211,557 metric tons of carbon dioxide equivalent, which is comparable to taking 38,465 of cars off the road.

This has resulted in an estimated $19.4 million in energy cost savings across its commercial portfolio overall.

Other highlights include a 41 percent reduction in electric consumption; 47 percent reduction in steam consumption and; 44% reduction in carbon emissions.

MICHAEL RUDIN

Michael Rudin, Senior Vice President of Rudin Management Company, the operating arm of the Rudin Family holdings, said, “From installing the most energy efficient equipment to developing our own smart building technologies, we are committed to doing our part to help the environment. While we are very proud to have passed the 40 percent threshold, we are excited to build on our partnership with the City of New York and Prescriptive Data to aggressively pursue new measures to further reduce our carbon footprint in the years to come.”
“For commercial building owners and tenants, reducing carbon emissions is just smart business. Period. Full stop.” said Mark Chambers, Director of the Mayor’s Office of Sustainability. “We applaud Rudin Management Company for their innovative and money-saving energy efficiency initiatives as part of the NYC Carbon Challenge.”

Rudin is currently using Nantum in 17 of their New York City buildings, including 15 commercial buildings and two residential towers.

The system uses machine-learning to positively predict, prescribe and influence building performance.
It has provided the Rudin Operations team with a tool that makes tenants more comfortable, as evidenced by a reduction in comfort complaints by 70 percent, makes properties run more efficiently, and saves money.
It is currently providing an average energy savings of 30 percent across the Rudin portfolio, ranging from 50 cents per square foot to $2 dollars per square foot, depending on vintage, mechanical configurations, the tenant make-up and the number of hours the building operates on an annual basis.

Related posts

Most year-end market reports loosely align, showing growth and contraction

Orlando Rodriguez

Westside Market goes East

REW Staff

NYC hotel market strong but potentially stunted

Dan Orlando