5YF Episode #6: Empire State Realty Trust CEO Anthony Malkin

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Retrofitting our buildings and cities to be more sustainable is making increasing economic sense, giving realtors an edge in tomorrows market. Elevators that recharge on decent, gas injected glass, intelligent air quality, buildings with brains and data spines. These are not reserved to our future skyscrapers but are being innovated from within our landmark 100 year old icons. Let the reimagining begin!

A real brain, fed through an information spine through the building

What you’ll hear:‍

🗽 Open sourcing the Empire State Building

📟 Creating an information spine and brain of a building

🗂️ Upcoming regulation that will reshape the economics of real estate

🌱 Sustainable impact vs green washing

🏗️ Embarking on the worlds landmark retrofit

♾️ And plenty more!

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The opportunity to make the Empire State Building a leader in sustainability was all part of an effort to modernize and make it more economically competitive within the marketplace

Our guest:

Anthony Malkin is CEO of Empire State Reality Trust, Inc (NYSE:ESRT), a leading real estate investment trust which owns and operates office and retail properties throughout New York — most notable being the Empire State Building coined ‘The Worlds Most Famous Building’. Tony has transformed the 100 year old Empire State building into a shining example of energy efficiency and modernization, open sourcing their work to the world and advancing the cause of green buildings in partnership with others such as the Clinton Climate Initiative. Tony has led the development of standards for building energy efficiency and, amongst his many positions, is a member of the Board of Governors of the Real Estate Board of New York and member of Partnership for NYC’s Innovation. Tony is an intellectually forward and bold thinker, deep in innovation through personal investments in VC and the technology industry. A man of action, mission-driven by our green city future yet equipped with the business mind to make it economically viable and practical to achieve.

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In Europe already banks in 2024 will be required to report on the carbon effects of the money they lend

My takeaway:

The economics behind building green is changing quickly and risks leaving much of the real estate industry underprepared. Regulation is changing, renter priorities have shifted, access to capital is restricting. By showcasing the sustainable transformation of one of the worlds most iconic buildings, The Empire State, Tony and his team have created an incredible playbook for the world to follow — fully open sourced for everyone to leverage. The future is retrofitted cities, smart buildings with information spines that adapt to their surroundings, healthier indoor environments, and green going from decorative gardens to thoughtful interventions which done right establish a real business edge.

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- Daniel Darling