54 State Street
54 State Street
Albany, NY 12207
54 State Street in downtown Albany is a 10-story commercial office building constructed in 1973. The building is owned by 54 State Associates LP and operated by Omni Management Group. Recognizing the potential to improve the facility's energy and financial performance, Omni turned to the proven strategy of EPA's ENERGY STAR program in 2008 for the tools and resources necessary to help achieve superior energy performance.
By working with Technical Building Services, Odyssey Energy Solutions, HR&A Advisors, National Grid, SAIC, NYSERDA, and ENERGY STAR to make 54 State Street more energy efficient, Omni is saving the building's owners about $325,000 per year in energy costs.
As a first step, the Omni energy management team sought to assess the facility's baseline energy performance and to pursue the efficiency gains that could be accomplished through improved operations and maintenance and other low-cost practices. Initial benchmarking in 2007 using the ENERGY STAR Portfolio Manager tool returned a baseline score of 48.
The team was able to leverage NYSERDA and National Grid incentives to conduct a comprehensive energy audit and implement numerous energy-related upgrades including: HVAC motor replacements, interior/ exterior lighting and controls, condensing boilers, variable frequency drives (VFDs), air handler coils, chiller drive system, and a complete Building Automation System (BAS).
The investment Omni made in 54 State Street resulted in an annual savings of over 1.9 million kilowatt hours, exceeding the original estimates by a substantial margin. The project was completed at a cost of $1.25 million, slightly under budget and within the initial completion schedule. Omni and its tenants now enjoy an estimated $325,000 in energy cost savings every year, resulting in a simple payback period of 3.8 years. Additionally, the building's ENERGY STAR score was raised to 85, resulting in the the building earning the ENERGY STAR for superior energy performance in 2009.
This energy improvement project substantially increased comfort of the building tenants by eliminating under- and-over conditioning of occupied areas. It also reduced the facility's operations and maintenance expenditures by a significant margin, and helped make the facility more competitive in the leasing market. Omni has received more than $140,000 in NYSERDA and National Grid incentives, offsetting a portion of the costs of the comprehensive energy audit and capital expenditures.
Omni experienced such a level of success at 54 State Street that the company is now investing extensively in energy efficiency improvements throughout its entire portfolio.
Please note: Narrative information in this profile has been provided by Omni Management or a representative of this facility. Other building information was verified and submitted to EPA at the time of application. Building energy performance, operating characteristics, and ownership/management may be subject to change over time.
Odyssey Energy Solutions
54 State Associates, LP
Year(s) Labeled (Rating):
Facility Type: Office
Total Floorspace: 175300 sf
Year Constructed: 1973
Contract Type: Single Turn-Key Contract
Financing Type: Loan
|Stage 3-Load Reductions|
|Stage 4-Fan Systems|
|Stage 5-Heating and Cooling Plant|
For More Info:
VP Real Estate Services
Albany, NY 12207