[NYguy]

https://www.propmodo.com/tall-green-...laces-to-work/

Tall, Green and Smart
How building system innovations and technologies are making New York City's supertall buildings more attractive places to work

Franco Faraudo
December 8, 2019

“New York City is a very unique market.” This might seem like an obvious statement but most people have no idea how true it is. Ryan Baxter, PropTech Advisor for the New York State Energy and Research and Development Authority (or NYSERDA), it into context as the moderator of a panel at our Building the Future event last month.

“The largest owner of real estate is the city of New York and their annual budget is larger than the next 19 largest U.S. cities combined.” It isn’t just the city’s active (at times hyper-active) role in the real estate landscape that sets the market apart from any other in the world. “Our midtown office market has windowless basement space that rents for more than the top of the Willis Tower in Chicago,” Ryan explained.

The density of office stock that New York has been able to achieve while still remaining a sought out a place to vacation and live is second to none. It has done this by thinking big, or in this case tall. While Chicago might be considered the birthplace of the idea of the skyscraper, New York City is where it was honed. Even now, after the tallest building in the world fever has settled down for all but the remaining few dictators looking to make a statement, midtown Manhattan continues to set records with its innovative “supertall” buildings.

The kind of density that makes New York City unique might actually be a glimpse of the future of many cities around the world. The technologies and techniques that are being used in some of New York’s frighteningly slender new additions to the skyline are likely similar to what will be adopted by the larger built world soon.

.....New York’s office market is certainly unique. But it may not always be. As the global economy slips further into the information age and turns towards cities as generators of productivity we might see other cities resemble New York’s crown jewel. Idiosyncrasies that now seem isolated to a bustling metropolis like Manhattan could become standard in other smaller cities as they march down the path of progress. Learning how certain forward-thinking real estate firms are dealing with development in the city will certainly give valuable lessons for others to use in their own markets in the coming years.