The Research Foundation of the State University of New York (SUNY) purchased the historic building located at 35 State Street for its corporate headquarters. The original structure, built in the 1830s, was used as the Thorpe and Sprague Stage Coach office and the Albany Museum. In 1902, the Albany Trust Company purchased the site and commissioned renowned architect Marcus T. Reynolds to design a new structure. Over the last century, 35 State Street has been home to Albany Trust, Banker Trust, First American Bank and KeyCorp. In 1970, the building as accepted into the National Register of Historical Places.
In 2009, The Research Foundation at 35 State Street, reached out to Carrow Real Estate Services to assist with an efficiency and maintenance initiative for the historic building.
As part of the energy conservation initiative at 35 State Street, Carrow standardized the building's temperatures and lowered the winter set point by four to six degrees Fahrenheit. Carrow installed motion sensors in restrooms and occupancy sensors throughout the building, reducing an estimated 25,000-40,000 kWh ($3,700-$5,900) per year. Carrow transitioned 35 State Street to a new electricity supplier, resulting in the savings of $0.037 per kWh ($18,000) per year. Carrow also transitioned 35 State Street to a new natural gas supplier, resulting in savings of $1,350 per year.
Carrow Real Estate Services worked with the Research Foundation on upgrading the two geared traction passenger elevators at 35 State Street. The modernization fully upgraded the 42 year old elevators with new hoist motors, power drives, door operating equipment motion controllers, dispatch logic controller, car and hall fixtures and cab finishes.
Because The Research Foundation owns 35 State Street and is the sole tenant, Carrow Real Estate Services acts as a third party manager in conjunction with The Research Foundation's facility management team. Carrow has a property manager and maintenance technician dedicated to 35 State Street who, working with The Research Foundation, quickly responds to maintenance requests and oversees establishment and compliance of vendor contracts. The Carrow team conducts update meetings with and is in daily contact with on-site facility personnel.
Carrow Real Estate Services has helped The Research Foundation modernize 35 State Street while maintaining the historic features that make 35 State Street a beautiful and well-preserved national landmark.