Meridian acquired the property in August 2017 when the building was 78% occupied, and invested more than $4 million in interior renovations during the past two years to bring occupancy up to nearly 90%.
Landlords are under pressure to get their paperwork in order to meet the New York City Council’s Climate Mobilization Act (CMA) passed last year to reduce greenhouse gas emissions and improve efficiency for commercial and residential buildings larger than 25,000 square feet.
According to the 2020 CRE Innovation Report by Altus Group, a majority of CRE leaders now fully recognize the disruptive impact of PropTech, illustrating that many advanced technologies can potentially solve current challenges.
Sponsored by ADP
- Exclusive discounts on ALM and GlobeSt events.
- Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.
Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.