Midtown Manhattan Ranks 2nd in U.S. Green Real Estate Markets ...

Why does one market tend to have more LEED Certified buildings than another? What is the impact of vacancy rates, utility incentives, or public policies on the feasibility and economics of ?going green?? In the 2011 study, Cushman & Wakefield and NEEA?s BetterBricks initiative have published the 2011 Green Building Opportunity Index ? a comprehensive ranking of the top 30 U.S. markets for green buildings. The annual Green Building Opportunity Index remains the first office market assessment tool to provide weighted comparisons of top U.S. markets on the basis of both real estate fundamentals and green development considerations.

The 2011 Green Building Opportunity Index remains the first office market assessment tool to provide weighted comparisons of top U.S. office markets on the basis of both real estate fundamentals and green investment considerations. As in the inaugural 2010 version, the Index compares each market?s relative position to its peers in six categories: Office Market Conditions, Investment Outlook, Green Adoption & Implementation, Mandates & Incentives, State Energy Initiatives and Green Culture.

For 2011, the Index has been enhanced by adding five new markets and refining the methodology and data inputs ? yielding a more comprehensive view into the factors that influence successful development, retro-fitting, leasing and sales of investment grade green office buildings.

Out of thirty markets that were assessed, this is how the three submarkets of New York City ranked in the different categories:

Midtown: 3rd in office market conditions; 3rd in investment potential; 5th in green adoption and implementation; 4th in mandates and incentives; 9th in state energy initiatives; and 3rd in green culture.
Midtown South: 2nd in office market conditions; 2nd in investment potential; 25th in green adoption and implementation; 3rd in mandates and incentives; 8th in state energy initiatives; and 2nd in green culture.
Downtown: 7th in office market conditions; 7th in investment potential; 20th in green adoption and implementation; 6th in mandates and incentives; 10th in state energy initiatives; and 4th in green culture.

The list of top ten are:

1. San Francisco
2. Midtown New York City
3. Washington, D.C.
4. Midtown South, New York City
5. Los Angeles
6. Boston
7. Downtown New York City
8. Portland
9. Seattle
10. Oakland

Source: http://www.ecoficial.com/midtown-manhattan-ranks-2nd-in-u-s-green-real-estate-markets-survey-1684/

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