Small-Scale Carbon Capture

A relatively small device — it takes up a few parking spaces at most — promises to speed up the decarbonization of buildings at a time when more owners and regulators are trying to do just that. Also, more leasing and sales brokers than ever are utilizing social media to seal deals. Discover how they do it.

These stories are part of our Daily Round Up, Click here to get it delivered straight to your inbox.

— Tom Acitelli, Co-Deputy Editor

Carbon Capture Becomes Reality in NYC Apartment Buildings

The Grand Tier could be the set for “Only Murders in the Building.” The glassy Upper West Side building rises 30 stories, just across Broadway from Lincoln Center’s broad plaza, and across West 64th Street from well-heeled restaurants like Bar Boulud and Cafe Fiorello. But the building is notable for a different reason than its enviable location and cultured residents. Down in the basement, the owner, Glenwood Management, has installed the first small-scale carbon capture system designed for a commercial building, and it’s been sucking carbon out of the air ever since. The system, devised by startup CarbonQuest, sucks carbon dioxide emitted by the building’s natural gas usage into its equipment, then cools and liquifies it, storing the liquid form in tankers that can then be sold by the ton. “It looks like a refinery, a bunch of pumps and depressors, all run by a computer program,” said Josh London, senior vice president of management at Glenwood, which is leading the effort.

Read the rest of the story

Younger Commercial Real Estate Netizens Are Embracing Social Media to Make Deals

Instagram sensation Taco is maybe the greatest sales dog in history. Taco, broker Kyle Inserra’s beloved French bulldog, helped Inserra score a 2018 restaurant sale in Irvington, N.Y., when a potential buyer and fellow Frenchie fan reached out because of Taco’s regular appearances on Inserra’s Instagram page. “[The buyer] said, ‘I'm just reaching out to you because I see you have a French bulldog and I also have a restaurant I want to sell,’ ” Inserra said. “And I took that deal and got it done.” TikTok, Instagram and LinkedIn — apps known for cute dances, popular influencers and motivational posts — have taken over headlines and our spare time. Now, social media is taking over commercial real estate. Or, a select few brokers are taking over it.

Read the rest of the story

---------------------------------------------------------------------------------

Enjoying these stories on all things CRE? Unlock unlimited access to our content?with a subscription. And for a daily version of this newsletter,?sign up here.