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When the first tenants move into the Reuters building at 3 Times Square later this month, the 30-story skyscraper win have some of the freshest indoor air in the city, thanks to a state-of-the-art filtration system.
Its specially designed facade will let light in while keeping heat out, and overall energy costs will be 30% lower than in a comparable office tower.
In other words, 3 Times Square - like its neighbor, the Conde Nast building at 4 Times Square - will be a " green building." That means it may be the first to be eligible for a recently enacted green-building state tax credit of as much as 5% to 7% of the cost of construction.
"We're waiting for the (final) regulations to come out to determine if it was a smart bet on our part," says John J. Gilbert III, chief operating officer of Rudin Management Co., the management agent for the Rudin family, which is developing the site.
Of course, the tax...