Back in September, we noted a report in Crain’s that Al Gore’s investment firm, Generation Investment Management LLP, was looking for LEED-certified office space in New York City. Today, Generation announced that it has secured a 5,000-square-foot lease on the 48th floor of the Durst Organization’s Bank of America Tower, which expects to receive the first-ever LEED Platinum rating for a commercial high-rise once it opens up next May. As we’ve noted previously, asking rents at the Midtown tower, which was designed by Cook + Fox, are hovering around $185/square foot; it’s unclear how much Gore’s firm agreed to pay for the space, but as of July, this was the asking price for the only two remaining floors in the building. (By way of comparison, according to Cushman & Wakefield, the average asking rent for Class A office space in Midtown is $70/square foot).
Generation was founded back in 2004 and has offices in London and Washington, with another to open in Melbourne next year. The firm donates five percent of its profits to The Generation Foundation, a non-profit organization “dedicated to strengthening the field of sustainable development and sustainability research worldwide.” Inking such a high profile tenant as Mr. Gore and his firm is obviously terrific news for both Durst and the Bank of America Tower itself as the building prepares to accept the mantle of America’s greenest skyscraper.
- Al Gore to Lease Green Space at Bryant Park (Crain’s)
- Gore Looking for LEED Space in Gotham (gbNYC)
- Two Remaining Floors at BoA Tower for $185/sf (gbNYC)