Prominent site in the wonderful village of Watermill. 8,000 square feet of state of the art offices in 3 buildings, designed by the award winning architect James Merrell (www.jamesmerrellarchitects.com) and built by Glenn Heidtmann and sons. (The team responsible for Archi award winning Urban Archaeology in Bridgehampton).
This project is "Green" and has been LEED certified at the GOLD level as the second on the East End.
-Offices may be 1000, 1500, 2000, or 3000 square feet.
-Heat, Air conditioning, electricity, wireless internet and outdoor maintenance included @ $60/square foot.
-Leasing will be by applications which may be requested by email email@example.com -Meisel Real Estate will co-broke with all licensed Brokers
Green Buildings Financially Crush and Outperform Non-Green Buildings!!
CoStar just released details of their study of LEED and Energy Star buildings, They analyzed roughly 1,300 LEED and Energy Star buildings representing 351 million square feet of commercial buildings. The green buildings were compared with non-green properties of similar size, location, class, tenancy, and year built characteristics to extrapolate the economic case for green buildings. The result:
Compared to non-LEED buildings:
-LEED buildings sell for $171 more psf!!
-LEED buildings command rent premiums of $11.24 psf!!
-LEED buildings have 3.8% higher occupancy rates!!
Compared to non-Energy Star buildings:
-Energy Star buildings sell for $61 more psf.
-Energy Star buildings command rent premiums of $2.38 psf.
-Energy Star buildings have 3.6% higher occupancy rates.
We're at the point now, with data such as this, that the first costs debate is pretty much ridiculous.
Demand Exceeds Supply Right Now The study noted that one of the reasons for the good financial returns on green projects (both LEED and Energy Star) is the supply constraints. While the number of green buildings continue to grow, they represent a small fraction of the total real estate market and supply has not kept up with demand.
Additionally, LEED is starting to become tied to and associated with Class A properties. You basically can't build a Class A property unless it's LEED. As a result, buildings that aren't LEED start to fall down to Class B or so, and their value is diminished. That's not good for property owners, so get ready to see an increase in LEED-EB registrations and certifications. And get ready for LEED to become the de facto standard for new developments and deals.
LEED was created to:
-Define "green building" by establishing a common standard of measurement
-Promote integrated, whole-building design practices
-Recognize environmental leadership in the building industry
-Stimulate green competition
-Raise consumer awareness of green building benefits
-Transform the building market
Green Building Council members, representing every sector of the building industry, developed and continue to refine LEED. The rating system addresses five major areas: Sustainable Sites, Water Efficiency, Energy and Atmosphere, Materials & Resources, and Indoor Environmental Quality.
The system offers four levels of accomplishment: LEED Certified, Silver, Gold, or Platinum, according to how well the building meets criteria in the rating system. This project will be attemping the Gold level of certification, a very ambitious undertaking with more benefits to the community and environment then basic certification.
Ari Meisel is a LEED ACREDITED Professional see www.leedpro.com