Categorized | Energy Investment

Empire State Building’s Love Affair with Green Energy

Posted on 09 May 2014

Empire State Building’s Love Affair with Green Energy

The world-famous Empire State Building was first erected in 1931 and was the tallest building in the world until the World Trade Center was put up in 1974. Since then, many even taller skyscrapers have been built in Malaysia, the United Arab Emirates and other countries. They include Burj Khalifa in Dubai and the two Petronas Towers in Kuala Lumpur. Of course, the Empire State Building has a much greater claim to fame than its height. One is the recent attempts to “go green.” As of January 2011, the Empire State Building has derived 100 percent of its power from renewable energy provided by the Green Mountain Company. One of the biggest advantages of this move is that it gives the building a competitive edge with similar ones in selecting the tenants with the best credit.

The building is currently owned by a company (ESRT) called Empire State Realty Trust, Inc., which also owns no less than eighteen other properties in the city. In early October 2013, the business purchased the Empire State Building from its former owners, the Malkin family. As a result of this transfer, anyone can buy a share in the building for less than the price of an elevator ride up to the observation decks for which the building has long been famous.

Many companies and individuals have been tenants of the building or continue to be so. Present tenants include the Croatian National Tourist Board, People’s Daily, the Federal Deposit Insurance Commission, LinkedIn, Human Rights Watch, Boy Scouts of America and Turkish Airlines.

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