Streams

Mayor Heralds Signing of First 'Green Lease' in City

Tuesday, April 05, 2011

Mayor Michael Bloomberg, Larry Silverstein (L) and William Perlstein (R) signing a lease for William Hale Mayor Michael Bloomberg, Larry Silverstein (L) and William Perlstein (R) signing a lease for William Hale (Stephen Nessen/WNYC)

The first green lease was signed by a commercial tenant Tuesday in what Mayor Michael Bloomberg hopes will become blueprint for future leases and help cut the city's emissions.

Law firm WilmerHale signed what the mayor called an "energy-aligned green lease" for floors 41 to 45 of 7 World Trade Center, which will include floor-to-ceiling windows, efficient air conditioners and will use rain water collected from the roof to conserve water.

With the new green leases, the developer and the landlord will share utility costs on new buildings. If a developer spends $500 on energy-efficient lights, for example, the landlord would pay the full cost and deduct a portion each month from the tenant until it is paid off. Once that happens, the rent drops.

When the tenant moves out, the landlord can then charge the next tenant higher rent if it’s offset by a lower energy bill.

"Instead of lease negotiations being a zero-sum game the landlord and tenant in this case will both share the savings from energy efficiency improvement," Bloomberg said.

The mayor said the lease is part of PlaNYC’s long-term plan to reduce the city’s emissions by 30 percent by 2030. The city leases 12.5 million square feet a year, and large buildings are responsible for 45 percent of the city’s carbon emissions, according to the mayor.

Larry Silverstein is the developer of the building, which is at 90 percent capacity.

Tags:

More in:

News, weather, Radiolab, Brian Lehrer and more.
Get the best of WNYC in your inbox, every morning.

Comments [1]

john

I have no idea about it.
<a href="http://leaseacar.org.uk" rel="dofollow">lease a car</a>

Apr. 21 2011 04:12 AM

Leave a Comment

Register for your own account so you can vote on comments, save your favorites, and more. Learn more.
Please stay on topic, be civil, and be brief.
Email addresses are never displayed, but they are required to confirm your comments. Names are displayed with all comments. We reserve the right to edit any comments posted on this site. Please read the Comment Guidelines before posting. By leaving a comment, you agree to New York Public Radio's Privacy Policy and Terms Of Use.

Sponsored

Latest Newscast

 

 

Support

WNYC is supported by the Charles H. Revson Foundation: Because a great city needs an informed and engaged public

Feeds

Supported by