Good news out of New York–last week, Mayor Bloomberg announced a new initiative which pushes the multifamily building sector to cut energy waste, thereby reducing the cost of living in New York. The initiative is part of a larger effort, PlaNYC’s 2005 Carbon Challenge, which aims to reduce climate change-related pollution by 30% by 2030. While over the past eight years, such pollution has been reduced by 19% already, catastrophic weather events like Hurricane Sandy are fueling the city’s urgency to get the job done, and fast. And they certainly knocked on the right door. In New York City, 55% of total greenhouse gas emissions come from multifamily properties. These buildings also make up over 75% of all NYC buildings, 65% of floor space, and 50% of all energy used. Ten leading residential residential property firms, managing between 200 and 500 buildings, have already signed on to the goal of reducing their emissions by 30%. If the challenge is met, 100,000 metric tons of carbon emissions could be cut per year. And most professionals in the industry agree the challenge can definitely be met, as lots of necessary changes would be relatively easy to make, from dimming stairwell lights at night to installing control valves on steam radiators. The project is similar to President Obama’s federally-implemented Better Buildings Challenge, which uses the same strategy of mobilizing the multifamily real estate sector to help prevent climate change and cut energy costs. Giro Katsimbrakis Kudos to real estate builders everywhere for taking on the challenge and helping make a difference!

1. NYC
Multifamily
Sector
to
Help
Reduce
Energy
Waste,
Cost
of
Living
By
Giro
Katsimbrakis
January
10,
2014
Good
news
out
of
New
York–last
week,
Mayor
Bloomberg
announced
a
new
initiative
which
pushes
the
multifamily
building
sector
to
cut
energy
waste,
thereby
reducing
the
cost
of
living
in
New
York.
The
initiative
is
part
of
a
larger
effort,
PlaNYC’s
2005
Carbon
Challenge,
which
aims
to
reduce
climate
change-­‐related
pollution
by
30%
by
2030.
While
over
the
past
eight
years,
such
pollution
has
been
reduced
by
19%
already,
catastrophic
weather
events
like
Hurricane
Sandy
are
fueling
the
city’s
urgency
to
get
the
job
done,
and
fast.
And
they
certainly
knocked
on
the
right
door.
In
New
York
City,
55%
of
total
greenhouse
gas
emissions
come
from
multifamily
properties.
These
buildings
also
make
up
over
75%
of
all
NYC
buildings,
65%
of
floor
space,
and
50%
of
all
energy
used.
Ten
leading
residential
residential
property
firms,
managing
between
200
and
500
buildings,
have
already
signed
on
to
the
goal
of
reducing
their
emissions
by
30%.
If
the
challenge
is
met,
100,000
metric
tons
of
carbon
emissions
could
be
cut
per
year.
And
most
professionals
in
the
industry
agree
the
challenge
can
definitely
be
met,
as
lots
of
necessary
changes
would
be
relatively
easy
to
make,
from
dimming
stairwell
lights
at
night
to
installing
control
valves
on
steam
radiators.
The
project
is
similar
to
President
Obama’s
federally-­‐implemented
Better
Buildings
Challenge,
which
uses
the
same
strategy
of
mobilizing
the
multifamily
real
estate
sector
to
help
prevent
climate
change
and
cut
energy
costs.
Kudos
to
real
estate
builders
everywhere
for
taking
on
the
challenge
and
helping
make
a
difference!
Giro
Katsimbrakis
has
twenty
years
worth
of
real
estate
industry
experience.
He
began
as
a
leasing
agent
for
Kiska
Developers
in
New
York
City,
and
quickly
worked
his
way
up
the
company
ladder
to
Director
of
Sales.
After
bringing
the
company
out
of
the
red
and
expanding
its
office
to
over
twenty
agents,
he
started
his
own
commercial
and
residential
real
estate
company,
East
River
Properties.
After
taking
over
the
Las
Vegas
and
Arizona
markets,
Giro
Katsimbrakis
relocated
to
the
Dallas/Fort
Worth
area
and
founded
DPW
Properties,
which
he
is
currently
in
the
process
of
expanding
nationwide.

2. Throughout
his
long
and
successful
career,
Giro
has
rehabbed
over
four
hundred
properties,
and
bought
and
sold
millions
of
dollars
worth
of
real
estate.