NY's CRE Pros Don't Value Being Green

NEW YORK CITY—Even as more New York office buildings are built and renovated to environmentally sustainable—or green—standards, tenants and potential tenants don’t care all that much, according to a survey of New York City real estate executives, including owners, brokers, agents, engineers and accountants and lawyers specializing in the space.

Most property executives (83%) said tenants regard green certification as either “not too important” (33%), only “somewhat important” (45%) or “not at all important” (5%), according to the spring 2014 Gotham Commercial Real Estate Monitor survey by accounting firm Marks Paneth. Only 15% of executives said they believe tenants see a building’s environmental sustainability as “very important.”