Brookfield Properties

A high-rise office building leverages building redevelopment to overhaul HVAC systems, incorporate heat pumps, and dedicated outdoor air systems for complete decarbonization by 2035.

660 Fifth Avenue, developed by Brookfield Properties, highlights how a building redevelopment can be leveraged by property owners to improve functionality and efficiency of building systems, setting a successful precedent for high-rise offices of the future. The 41-story, 1.4 million square foot commercial property was built in 1957 and is currently completing a full redevelopment to modernize the building.

The decarbonization plan for 660 Fifth Avenue involves a phased approach from 2023-2035 to electrify heating and eliminate steam usage through measures such as expanding the building's thermal network, installing water-to-water and air-to-water heat pumps, and fine-tuning HVAC sequences, with the goal of reducing site EUI by 59.8% and greenhouse gas emissions by over 6,500 metric tons annually.

• Brookfield will achieve net-zero annual carbon emissions by 2035 at 660 Fifth Avenue 
• Modern heat recycling and fresh air systems help Brookfield meet accelerated climate goals.

Brookfield Properties acquired its interest in 660 Fifth in 2018 with the intent to redevelop and reposition the property into an iconic, trophy-class office building. The redevelopment plan included a full façade upgrade to create the largest windows in New York City redevelopment history, as well as full upgrades to the property’s mechanical systems resulting in a 60% EUI reduction and 40% water use reduction at the property. In addition to major operating expense savings as result of such improvements, the property will also be able to lease space for significantly more, helping accelerate the return on investment.

The business case for this decarbonization project was analyzed by comparing the net present value (NPV) and return on investment (ROI) of the proposed energy conservation measures against the original redevelopment scope and budget. The analysis considered factors such as implementation costs, operational cost savings from reduced steam and electricity consumption, increases in property value, and the impact of potential Empire Building Challenge funding. The proposed measures are estimated to generate an unlevered 17.9% internal rate of return (IRR) with EBC funding compared to 6.7% without it, showing the important impact of public-private partnerships.

Fresh Air

This project involves overhauling the building’s HVAC system to position the building for full decarbonization by 2035. To supply the building with fresh air, Brookfield will deploy a mechanical system known as a dedicated outdoor air system (DOAS), which consists of a separate ventilation system that runs parallel to heating and cooling components.

Heat Recovery

Brookfield will also recapture wasted heat throughout the building via water-to-water heat pumps and air-to-water heat pumps. This project will dramatically reduce steam use in the building by applying heat pumps in numerous heat recovery and reuse applications to recapture heat that normally would be rejected into the atmosphere. Brookfield’s project highlights how a building redevelopment can be leveraged by property owners to improve functionality and efficiency of building systems, setting a successful precedent for high-rise offices of the future.

About Brookfield Properties

Brookfield Properties is a fully integrated, global real estate services company that owns and operates 40 million square feet of office, residential, hotel, and retail property in New York.

The Empire Building Challenge

The Empire Building Challenge (EBC) is a $50 million investment by New York State to demonstrate different pathways for achieving carbon neutrality in tall buildings. Through the establishment of a private-public partnership with leading real estate owners and their engineering experts, exciting approaches to cold climate decarbonization are being tested in the New York market. The EBC’s new Retrofit Playbook for Large Buildings includes step-by-step guidance and real-world case studies for decarbonizing and modernizing a range of building types. With the potential to replicate these solutions across real estate controlled by the first cohort of Empire Building Challenge partners and beyond, the impact of each project will accelerate New York’s progress toward the Climate Leadership and Community Protection Act’s (Climate Act)  goal of reducing greenhouse gas emissions 85% by 2050.