New York City Local Law 84, part of the Greener, Greater Buildings Plan, requires all privately-owned properties with individual buildings more than 50,000 square feet (sq ft) and properties with multiple buildings with a combined gross floor area more than 100,000 sq ft to annually measure and submit their energy and water use data to the City.
- Retail uses showed the widest range in energy utilization intensities with the highest users consuming five times more than the lowest users when measured on a per area basis.
- The multifamily sector was the largest share of benchmarked buildings, and showed the narrowest variation in energy consumption between the most and least intensive users.
- The most intensive water consumption was observed in multifamily properties.
This report is a great first step toward a world where there is transparency in the real-estate markets into energy performance as a driver of asset value, rental rates, and other key metrics. We are looking at the tip of the iceberg and the possibilities are termendous.
Download the complete report.