Cooper Square

ENERGY SAVINGS AT KIPS BAY

With energy expenses affecting just about every segment of society and industry, everyone is seeking ways to reduce costs.Keith Werny, a Cooper Square Realty Senior Vice President, found a solution for Kips Bay Towers, the landmark 1,100-unit condominium between First and Second Avenues in the 30s designed by world-renowned architect I.M. Pei.

The two-building complex used steam heat, which is significantly more expensive than either gas or oil. Werny wanted to convert to a dual gas/oil system. Fortunately, each building had two compactor shafts so one could be altered for use as a chimney in the conversion.

The board decided to move forward with the project and budgeted $860,000. The lowest bid, however, came in at $1.2 million. Werny was persistent and negotiated with the low bidder to reduce the cost and then applied for and received a grant from the New York State Energy Research and Development Authority (NYSERDA), which provides grants to encourage energy efficient projects.These steps brought the project within $62,000 of the budget. Werny then negotiated with an oil supplier who provided the needed funds.

A dual gas/oil system permits a building to determine which fuel to use based on cost. If the price of oil is lower, the system can quickly switch over to using oil and conversely, if gas is less expensive, it can switch to gas.

The system is working well and came in significantly below the budgeted amount for steam in the first year.