NY unveils “playbook” for building owners to cut emissions

With the clock ticking on owners of the city’s biggest buildings to cut emissions, the state has launched a resource to steer them through the process. Dubbed the carbon neutrality playbook, the online guide outlines four steps for owners to reduce greenhouse gases without breaking the bank. Gov. Kathy Hochul, joined by Mayor Eric Adams, announced it Thursday at the Empire State Building, which has gotten the green treatment from owner Empire State Realty Trust.

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More multifamily deals coming, Tony Malkin says

Empire State Realty Trust’s unexpected move into the apartment business, it turns out, was only the beginning of its diversification effort. The New York office landlord is looking to add more multifamily — even more retail — to its footprint as it faces headwinds in its core sector. “Our investment team continues actively to underwrite new office, retail and multifamily opportunities where we think we can get an edge with our local knowledge, ability to

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ESRT braces for more pain at Empire State Building

Empire State Realty Trust is bracing for its second largest tenant to exit its most iconic office property. While the real estate investment trust reported a second quarter uptick in leases across its portfolio, CEO Tony Malkin shared the news on Thursday that GBG, which leases 353,000 square feet at the Empire State Building, had just filed Chapter 11 proceedings. But Malkin told analysts at the earnings call that “we’ve been on top of this

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