Tishman Speyer’s 375 Hudson Street is First Existing Office Building in NYC Designated as LEED® Gold | Announcements | Tishman Speyer

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Tishman Speyer’s 375 Hudson Street is First Existing Office Building in NYC Designated as LEED® Gold

New York, NY August 3, 2010

Tishman Speyer Collaborated with Building Tenants Saatchi & Saatchi, Penguin Group (USA) and Turner Construction to Achieve Sustainable Operations

Tishman Speyer announced today that 375 Hudson Street, a 1,076,164-square-foot office building it owns in Soho in lower Manhattan, has been awarded the LEED® Gold for existing office buildings designation by the U.S. Green Building Council. The 19-story property is the first existing office building in New York City to achieve Gold status through environmentally friendly improvements and retrofits.

Located in the heart of the desirable Hudson Square area of Soho, with entrances on Hudson Street and West Houston Street, 375 Hudson Street is home to a mix of prominent companies and serves as New York headquarters for Saatchi & Saatchi, Penguin Group (USA) and the Turner Construction Company.

Tishman Speyer Co-CEOs Jerry Speyer and Rob Speyer said, “At Tishman Speyer, our philosophy is that good business and environmentally sound practices go hand in hand. This achievement at 375 Hudson reflects our global commitment to sustainable development and operations. We want to thank our tenants at 375 Hudson for being true partners in achieving this important milestone.”

Tishman Speyer implemented and achieved several sustainability measures at the building prior to and throughout the LEED® certification process, including:

• reduced electricity consumption by nearly 110,000 kWh per year by making changes to the HVAC and mechanical systems and installing variable-frequency drives on the cooling tower fans
• reduced steam consumption by improving heat exchangers and making other HVAC improvements that reduced heating demand
• reduced annual water consumption by 1 million gallons by replacing original restroom fixtures with low-flow aerators and new water closets
• adopted an expanded recycling program that encompassed not only office paper and waste, but batteries, electronic waste and construction debris
• implemented a building-wide “green cleaning” policy focusing on improving air quality and ensuring the purchase of sustainable cleaning and janitorial paper supplies

The building has also earned the ENERGY STAR® label from the United States Environmental Protection Agency for its energy efficiency.

“We’re thrilled to have supported Tishman Speyer in this achievement—it’s part of our True Blue commitment to becoming the world’s most sustainable agency,” said Adam Werbach, Chief Sustainability Officer at Saatchi & Saatchi. Saatchi & Saatchi also planted a rooftop garden growing a wide variety of vegetables and herbs.

Heidi Kagan, Penguin Group (USA) VP and Director of Building Administration, said, “Penguin Group (USA) has been investing in a greener future for years now, and we continue to implement programs that have a positive impact on the environment, the company, our employees and the building where we work. It’s very gratifying that our ongoing efforts and commitment to sustainable practices contributed to this acknowledgement.”

Turner Construction Company’s Chief Sustainability Officer Michael Deane said, “We congratulate Tishman Speyer on the LEED® Gold certification for 375 Hudson Street, our headquarters in New York. Turner, the largest green builder in the United States, shares Tishman Speyer’s commitment to sustainability, and welcomes the improvements that have made the building more energy and water efficient while providing a healthier working environment for our employees.”

About Tishman Speyer (www.tishmanspeyer.com)

Tishman Speyer is one of the leading owners, developers, operators and fund managers of first-class real estate in the world. Since 1978, Tishman Speyer has acquired, developed and operated over 325 projects totaling over 116 million square feet and a property portfolio of over US$54.2 billion in total value across the United States, Europe, Latin America and Asia, including signature properties such as New York’s Rockefeller Center and Chrysler Center, Berlin’s Sony Center, and Torre Norte in São Paulo, Brazil. Tishman Speyer to date has 11 million square feet of LEED® certified projects, with another 9 million square feet expected to be certified by the end of 2010.