Paramount Group, Inc.

New York, New York
Top Performer (2013)

Paramount Group, Inc. is a real estate investment and management firm originally established in 1968 by Werner Otto, which has since grown to one of the largest privately owned real-estate companies headquartered in New York City. Paramounts current portfolio is comprised of more than 14 million square feet of Class A, commercial properties located in New York City, the Washington D.C. Metro area, and San Francisco, with a combined asset value of more than $10 billion. The company has a dedicated team of more than 250 professionals with expertise in areas such as acquisition, finance, disposition, property management, leasing, and construction. Paramounts management recognizes that as a major owner and operator of commercial real estate, the company has the unique ability to positively shape the communities in which it operates through environmental stewardship and energy conservation. Paramount utilizes a holistic approach to sustainability, one that incorporates not only energy efficiency, but sustainable purchasing, recycling, water conservation, green cleaning and construction, and tenant and employee outreach and education. An ENERGY STAR Partner since 2009, Paramount cites Portfolio Manager, EPAs ENERGY STAR measurement and tracking tool, as a key factor in Paramounts sustainability initiatives. The company uses Portfolio Manager to benchmark all of the firms energy use and to monitor its environmental impact.

Paramount Group, Inc. has been recognized as an ENERGY STAR Top Performer for achieving an average ENERGY STAR 1  100 score of 79 across its portfolio of buildings. In 2009, Paramount commissioned a Sustainability Management Report (SMR) for each property to identify opportunities for improvement. These SMRs have become the foundation to Paramounts sustainability efforts as the company is utilizing a number of the recommended strategies and projects to achieve significant energy savings and reduce operating costs. Implemented strategies have included optimizing operating procedures, performing lighting retrofits, and investing in major capital upgrades with quick paybacks such as installing variable frequency drives (VFDs) and investing in HVAC upgrades. The SMRs also incorporated a real-time energy monitoring program across the portfolio that allows property personnel to constantly monitor their total energy usage (electric, steam, oil, and natural gas) in real-time, and continuously identify and eliminate inefficiencies. These strategies are only a few examples of Paramounts evolving, innovative methods to reduce its energy consumption and its overall environmental footprint. Compared to its 2007 baseline, the district currently prevents the emissions of more than 14,700 metric tons of greenhouse gases annually, which is equivalent to the carbon sequestered by more than 377,600 tree seedlings planted and grown for 10 years.