THE RUDIN FAMILY IN COLLABORATION WITH CROWN CASTLE LAUNCHES FIRST MULTI-TENANT CITIZEN BROADBAND RADIO SERVICE NETWORK (CBRS) AT 345 PARK AVENUE
The Rudin Family
CBRS will bring greater capacity, improved security, and the ability to accommodate significantly more IoT devices
NEW YORK, March 5, 2021 – The Rudin Family, in collaboration with the nation’s leading communications infrastructure company, Crown Castle International Corp. (NYSE: CCI) ("Crown Castle"), announced today that 345 Park Avenue has become one of the first multi-tenant commercial office buildings in the United States to enable Citizens Broadband Radio Service (CBRS). Known as the “innovation band,” the CBRS radio spectrum will enable 345 Park tenants to create and access their own dedicated, private broadband wireless network.
Construction of the neutral host CBRS network has been completed in the lobby and concourse levels, and additional areas within the building will be connected later this year. Construction coincided with a full renovation of the lobby and concourse designed by Skidmore, Owings and Merrill. The launch at 345 Park coincides with the first anniversary of the Federal Communication
The new initiative will improve wireless performance in 345 Park by doubling the current wireless capacity and will provide more flexibility for configuring wireless solutions for improved security and visitor features. While tenants, employees and visitors can utilize this higher capacity private network, it also allows building ownership to accommodate significantly more devices. The system will also support more bandwidth in the lobby for tenants and visitors as they adhere to new social distancing guidelines.
“This exciting new technology goes beyond what was possible even a few years ago,” said Michael Rudin, Senior Vice President at Rudin Management Company, the operating arm of Rudin Family holdings. “The spectrum that this technology is based in is the wave of the future, and tenants and owners alike who rely on fast, reliable connectivity will need this in order to stay competitive.”
“CBRS is consistent with our company’s focus on shared assets for the benefit of all. This is of great value to building owners, tenants, and wireless network operators,” said Paul Reddick, Vice President of Strategy, Business and Product Development for Crown Castle.
As one of the most technologically-advanced properties in the Plaza District today, 345 Park Avenue is WiredScore Platinum and currently utilizes the Nantum operating system, a smart building platform developed by Rudin’s start-up technology company, Prescriptive Data, to save money, make tenants more comfortable, and dramatically increase energy efficiency. The new multi-tenant CBRS network will seamlessly integrate with Nantum to provide faster real-time updates to both ownership and tenants including floor-by-floor occupancy data, indoor air quality, lobby occupancy and elevator wait times.
KPMG LLP, a 345 Park tenant, recently selected Nantum to be part of a new patent-pending blockchain capability called KPMG Climate Accounting Infrastructure (CAI). CAI helps organizations more accurately measure greenhouse gas emissions, track offsets and report on non-financial factors to investors, lenders, and tenants following industry standards and frameworks such as SASB, TCFD, GRI, and others. The new CBRS network brings heightened bandwidth and security to capture data continuously, which can improve the foundational emissions and consumption data KPMG CAI will use.
“Real estate owners and operators are under immense pressure to assess the impact of different climate risks on their assets, improve tenant experience and report progress toward emissions reduction goals to stakeholders,” said Arun Ghosh, KPMG One Americas Blockchain & Cryptoassets leader. “A CBRS network can provide the fault tolerant, local 5G backbone to enable KPMG Climate Accounting Infrastructure to capture highly granular data, powered by Nantum, to derive the trusted insights needed to measure progress toward net-zero by accounting for decarbonization and the transition to renewable energy.”
The CBRS network at 345 Park was designed with the infrastructure to meet future demands including 5G software upgradable radios, which will provide faster speeds and elevated user experiences. Additionally, this private network was built as an Open RAN solution that will lead to lower cost and more flexibility.
Built in 1969 by Sam, Jack, and Lewis Rudin and designed by Emery Roth & Sons, the full-block office tower is situated between East 51st and 52nd Streets and Park and Lexington Avenues. In addition to KPMG, the property is 100% leased to such prestigious tenants as Blackstone, the National Football League (NFL), Loeb & Loeb, and Rudin Management Company.
About The Rudin Family
The Rudin Family owns and operates one of the largest privately held real estate portfolios in New York City. Among its real estate holdings, which includes the high-tech Dock 72 office tower at Brooklyn Navy Yard, are 16 commercial office buildings containing approximately 10.5 million square feet of space and 17 apartment buildings comprising over four million square feet of residences. For more information about The Rudin Family, please visit https://www.rudin.com/.
About Crown Castle
Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 80,000 route miles of fiber supporting small cells and fiber solutions across every major U.S. market. This nationwide portfolio of communications infrastructure connects cities and communities to essential data, technology and wireless service - bringing information, ideas and innovations to the people and businesses that need them. For more information on Crown Castle, please visit www.crowncastle.com.