Independence LED Lighting Case Study for Newmark Holdings at 505 8th Ave, New York, NY
Project: Benchmark LED Efficiency Initiative
Highlights: 1 of 24 Property Retrofits
Address: 505 8th Ave, New York, NY
Owner: Newmark Holdings Portfolio
LED Installation: 2015
Energy Savings / Year = 198,090 kWh
Commercial LED Lighting Opportunity: The Newmark Holding initiative is one of the largest and most comprehensive commercial LED base building retrofits of its type in the U.S. Newmark Holdings is a vertically integrated real estate company with a 63-year-history of hands-on asset management and a portfolio of more than 10 million square feet of commercial properties throughout New York City. Base building areas often run with 24 x 7 hours of operation, presenting the highest ROI for lighting retrofits.
Commercial LED Retrofit Solution: The complexity of the different common areas and existing lighting across the portfolio resulted in the specification of more than 100 different LED fixtures, lamps and retrofits and required thousands of hours of auditing, manufacturing, rebate administration, and logistics by Independence LED Lighting.
Commercial LED Savings Results: The cost savings across the 24 properties in this benchmark project will reach $10 million over the 10 year warranty of the Independence LED lights. Favorable ConEdison rebate incentives lift ROI to over 65% with payback in less than 1.5 years. With 3.7 million kWh saved each year, CO2 emissions reduction reaches 50 million lbs over the next decade. Newmark Holdings is leading by example with energy-efficient properties.
Commercial LED Case Study: Independence LED Lighting (https://independenceled.com/ ) is a US LED manufacturer of industry leading 10 year warranty commercial LED lights. The company also provides comprehensive solutions services such as lighting audits, rebate administration, tax incentive support, installation coordination, and $0 upfront cost financing options. © 2016 www.IndependenceLED.com – Names and logos in this file are the registered trademarks of the respective entities.