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The Value of Green Asset / Property Management
 
A New York Times survey reported that “when faced with the choice of renting or buying two      similar apartments…consumers increasingly will opt for the one with Green features, even if it      comes at a higher price[1] .”

 

In reference to a need for Green features in buildings, the Harvard Business Review stated “The owners of ‘standard’ buildings face massive obsolescence. They must act now to protect their investments[2] .”


Mascia Management is a premier Green/sustainable real estate asset manager in New York City, founded by two LEED-Accredited Professionals as designated by the US Green Building Council. Simply managing your asset or upgrading it to today’s standards without employing Green technologies will not create the long-term value vital to the success of your investment. We help you capitalize on the growing demand from residents focused on living Green. In a city already known for being environmentally-conscious, we believe Green is a key differentiator that separates your property from the competition.


Integrating sustainable building practices and technology into the assets we manage has multiple benefits for our owners, residents, and community, including:

  • Marketing Bonus and Resident Retention. The attention given to innovative green building projects by the media allows for multiple marketing and public relations opportunities. This will increase the public’s awareness of your property while greatly reducing your out-of-pocket marketing expenses. The use of environmentally friendly cleaning products, paints and other materials coupled with the lowered energy costs for each unit increases resident’s satisfaction.
  • Energy Efficiency to Decrease Operating Expenses. We perform energy audits of your property which will detect and analyze potential energy efficiency solutions. We work with energy modelers to evaluate potential building system upgrades and alternatives. As part of our monthly financial analysis, fuel usage and costs are compared to previous years. We communicate with legislators and utility providers to investigate available incentive programs and energy rate structures. We evaluate the cost benefit of using solar, wind, and/or fuel cells at your property. High-performance building systems and technologies integrated into the design of the renovated portfolio generate savings through reduced energy and operating costs.
  • The Indoor Environment/ Health. We only utilize cleaning products and buildings materials that are low in Volatile Organic Compounds (VOCs) to minimize indoor air pollution sources. Green buildings improve the health, wellbeing, and quality of life for occupants by eliminating toxic VOCs from the air. A consistent focus on residents’ quality of life inside your unit reduces turnover and vacancy rates increasing your returns.
  • Environmental Stewardship. Building green can have multiple benefits beyond those enjoyed directly by our company, residents, and investors. Green asset management also helps reduce our reliance on foreign oil and, perhaps most importantly, New York City’s greenhouse gas emissions and “heat island” effect that contribute to global warming.
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Examples of Green services offered are:
  • Green property operations, cleaning, maintenance, and supply purchasing
  • Energy audits to determine building efficiency and EPA’s Energy Star compliance
  • Water efficiency testing and EPA’s WaterSense
  • Indoor air quality testing and improvement
  • Exploration of alternative energy sources (Solar, Wind, Geothermal, Combined Heat and Power, Co-generation) onsite; or sourcing of Green power from energy provider
  • Recycling and waste reduction analysis
  • Owner and resident Green education
  • Utilizing only Low VOC and/or GreenSeal cleaners and building products
  • Incorporating energy-efficient lighting and motion sensors
  • Applying water conservation measures such as low-flow plumbing fixtures
  • Developing renovation management plans to reduce construction related waste
  • Pursuit of tax and other government incentives for implementing Green features
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A growing number of prominent companies are recognizing the value of going Green. Some of the city’s largest corporations, such as the Hearst Corporation, Bank of America, and New York Times, have all located their headquarters in Green buildings. The Albanese Organization, Extell, and Archstone have all recently completed LEED-certified residential buildings in New York City.

 

Mascia Management’s employees are USGBC LEED-AP’s, signifying advanced knowledge the intricacies of Green buildings. Our commitment to Green buildings has prompted us to pursue the Credential for Green Property Management from the National Apartment Association. This is the real estate industry’s leading environmentally focused asset management certification. We continue to strive to be a leader in this area of real estate asset management because we believe it provides real value to your assets and creates a strong competitive advantage.

 

[1] Neuman, William. "It's Getting Easier to Be Green." New York Times 13 Aug. 2006.

[2] Lockwood, Charles. “Building the Green Way.” Harvard Business Review June 2006.

 
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