A managing principal at New York-based Castellan Real Estate Partners, Paul Salib leads the company’s efforts in acquiring assets and overseeing its portfolio. Paul Salib’s firm takes financial viability into consideration as it maximizes every opportunity to reduce energy and resource usage throughout its numerous real estate holdings.
With the knowledge gained from energy audits it contracted Bright Power, Inc., to perform, Castellan has undertaken major projects including balancing and tuning of heat distribution in buildings, converting to natural gas boilers, and installing sophisticated heat monitoring and management systems. It has also undertaken smaller projects to improve energy and resource usage.
These small-scale projects include insulating roof cavities, air-sealing common door areas, using high efficiency bulbs in common area lighting, installing new toilets that control water usage per flush, and installing low-flow shower heads. Based on projected payback periods, Castellan will enjoy these projects’ economic returns during the firm’s ownership holding period. Many of these projects qualify for New York State Energy Research and Development Authority rebates as well, further reducing payback periods.