IoT and Real Estate
When Hurricane Sandy struck the East Coast of the United States in 2012, it left a path of destruction affecting 24 states and causing more than $71 billion in damage. The storm did some of its worst damage in New Jersey and New York, where flooding in New York City’s
streets and subway tunnel lines knocked out power in and around the city for days.
SIlverstein, a property developer whose projects were hit harder than most, used the disaster as an opportunity to hit the reset button.
Silverstein deployed a mobile application that allows tenants to place and monitor work orders and requests, in addition to tracking the exact location of a shuttle bus specific to their residential buildings. It also serves an emergency-alert system, giving Silverstein a direct line of communication, via text messages, emails and automated voice calls, with tenants, residents, vendors and partners in the event of another catastrophic event. Perhaps its most innovative and comprehensive solution, Silverstein has created a centralized monitoring system for many of its buildings, including 4 World Trade Center. “We’re on the forefront of secure, safe, and effective IoT innovation in real estate,” said Bill Dacunto, executive vice president at Silverstein Properties. Building management systems are much smarter, with every device networked to provide continual feedback. “When building managers get information in real time they can immediately address whatever needs to be fixed,” he added. By analyzing utility usage and incorporating efficient energy cells during peak hours to supplement supply, Silverstein has also been able to reduce energy costs for its buildings.
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