As the presence of green buildings grows, developers and commercial tenants consider the costs and benefits of these real estate investments. This study investigates the price effects of environmental certifications on commercial office buildings in New York City and San Francisco. Specifically, looking at the levels of supply and demand in each region as an indicator of a price differential. If San Francisco’s heightened awareness towards environmental preservation increases the demand for green space more rapidly than the supply, the differential in real estate values in San Francisco will be larger than New York City. Using data from CoStar’s commercial real estate database and city’s assessor’s offices, a hedonic regression analysis estimates the effects of green certifications on rent and assessed value. By isolating two cities and analyzing their attitude towards green products in conjunction with the price differential, conclusions are drawn on consumer’s willingness to pay.