NEW YORK, NY—Under the direction of ecologically responsible real estate investment firm Jamestown and co-owner Murray Hill Properties, 1250 Broadway will lead its urban neighbors toward a greener future with multiple sustainable initiatives in the pursuit of the U.S. Green Building Council (USGBC)’s Leadership in Energy and Environmental Design (LEED) certification. Ideally located in Midtown Manhattan adjacent to the Empire State Building, 1250 Broadway’s green initiative is being led by Jamestown subsidiary Green Street Properties in partnership with WorkingBuildings. Planned improvements include adopting new green cleaning and green purchasing practices, the establishment of more rigorous recycling goals, indoor air quality improvements, retro-commissioning all energy systems to save energy and major reductions in the building’s water consumption.
“Jamestown and Murray Hill are dedicated to making a positive measurable impact on our environmental footprint by making practical upgrades and operational improvements to 1250 Broadway,” said William P. Reiter, Senior Vice President, Director of Operations at Murray Hill. “We also want to save money in the long run and present a higher quality product to current and future tenants.” According to Ben Gainey, Director of Asset Management for Jamestown, “We realize that all buildings will eventually be evaluated based on their environmental impact, and 1250 Broadway’s initiatives align perfectly with our focused real estate strategy.” Jamestown’s strategic environmental plans were furthered by the company’s recent acquisition of Green Street Properties, a green consulting and development firm that specializes in sustainable urban properties.
In the pursuit of the LEED for Existing Buildings: Operations & Maintenance certification for 1250 Broadway, Green Street Properties has registered the building with the USGBC. Once planned operational and system improvements are made in late 2009 and early 2010, the USGBC will determine final eligibility for the LEED Gold certification. In addition, 1250 Broadway ownership has applied for Technical Assistance funding from NYSERDA to improve the scope of energy saving studies conducted at the building. Building managers will continually monitor the building’s performance each year following certification to ensure the LEED standard will be maintained. The installation of state-of-the-art water fixtures in 1250 Broadway will save five million gallons of water annually. Another strategic goal will be to improve outdated lighting and controls specifications and conduct a pilot light project to evaluate LED lighting in the main lobby of the building. Several floors of the building will be improved during the certification process using more energy efficient components and water saving features.
“With ambitious and focused environmental objectives, 1250 Broadway is an ideal example of Jamestown’s socially responsible practices and Green Street Properties’ strategic green consulting initiatives,” said Walter Brown, the LEED project administrator for 1250 Broadway and Senior VP of Green Street Properties. “Since Jamestown’s acquisition of Green Street Properties in 2008, we have worked to help Jamestown and other building owners become more ecologically balanced real estate firms. We supplement their team with both development and green consulting skills, including the LEED certification of 1250 Broadway.” 1250 Broadway will be the second office building that Murray Hill assisted in successfully achieving a LEED certification. Through a series of affiliated entities, Murray Hill Properties has purchased, redeveloped, and profitably disposed of over 100 commercial office buildings located in Manhattan.
Co-owned by real estate investment companies Jamestown and Murray Hill Properties, 1250 Broadway is ideally situated in Midtown Manhattan adjacent to the Empire State Building. Built in 1968, the 769,053-square-foot building is currently pursuing certification as an existing building under the U.S. Green Building Council’s Leadership in Energy and Environmental Design (LEED). Significant tenants include Visiting Nurse Services of New York, Fitapelli & Schaffer, LLP and Mazur Carp Rubin & Schulman P.C. The building is located at 1250 Broadway, New York, N.Y., 10001.
Murray Hill Properties
Murray Hill Properties has spent more than a quarter of a century mastering the complexities of New York's commercial real estate market as brokers, property managers, and owners. Their experience springs from the successful negotiation of thousands of leases and property sales aggregating tens of millions of square feet. In short, Murray Hill Properties gets results.
Founded in 1983 with headquarters in Atlanta, Ga., and Cologne, Germany, Jamestown is a leader in asset acquisition and management. For 26 years, Jamestown has generated billions of dollars in strategic investments. The company is focused on core and private equity real estate funds in two primary market classes: 24-hour cities and Sunbelt territories with strong demographic growth. Acquiring more than $8 billion in these submarkets, Jamestown’s recent growth has been significant. Jamestown successfully invests in multiple U.S. markets including New York City, San Francisco, Boston, Washington, D.C., Raleigh, N.C., Charlotte, N.C., Chattanooga, Tenn., Charleston, S.C., Jacksonville, Fla., Savannah, Ga., and many more. For more information, visit www.jamestownproperties.com.