730 3rd Avenue
Opportunity
C-PACE financing covered multiple energy efficiency measures of the property’s retrofit project, including lighting, roof insulation, and replacing all windows with View Glass smart windows that adjust to light automatically to help control the temperature inside the building. In addition to the significant energy savings, the C-PACE financed measures will also reduce the property’s greenhouse gas emissions and help the building owner avoid nearly $100k in annual fines under the City’s Local Law 97 of the Climate Mobilization Act.
Property Summary
730 Third Avenue is a prominent, LEED Gold certified, 27-story high-rise office building in Midtown Manhattan. It is the New York City headquarters of Nuveen, and parent company TIAA. The property recently underwent a $120M full building, state-of-the-art renovation.
“C-PACE provided us attractive financing for multiple energy-saving upgrades
to our property, allowing us to create a state-of-the-art, sustainable space while
avoiding the hefty fines associated with the City’s Local Law 97.”
– Brian Wallick
Director, New York Office Investments, Nuveen Real Estate
C-PACE Financing ($)
Term (Years)
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