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Local Law 97 penalty estimate

2940 Ocean Parkway

Multifamily Housing · 490,424 sq ft · Brooklyn

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Is this property expected to be penalized in 2030 at current energy use?
  • Beginning in 2030, NYC drops the emissions cap by 40%.
  • At the same energy use, this property will stay under the cap.
  • So it may not owe a penalty.
What is the estimated penalty for 2940 Ocean Parkway right now?

$0/year

  • 2940 Ocean Parkway is 1,470 tons under the emissions cap.
  • So it may not owe a penalty.
How will this property’s penalty change in 2030?
  • The emissions cap will be lowered by 40% in 2030, from 3,310 to 1,996 tons.
  • NYC's grid will become cleaner by 2030, reducing this building's projected emissions from 1,841 to 1,575 tons.
  • At the same energy use, this property goes from 0 to 0 tons over the cap.
How much would the building need to cut its emissions to avoid the penalty?
  • No cut is needed.
  • At its current energy use it stays under the 2030 cap.
How energy efficient is 2940 Ocean Parkway?

80/100, grade B

  • It scores 80 out of 100 (grade B), which is well above average compared to its peers.
  • It uses 63 kBtu per sq ft a year.
How reliable is this estimate?
  • This is a planning estimate, not the city's official number.
  • Owners report their own energy use, and reports can have mistakes.
  • The city makes the final call.
  • ✓Energy use comes from the building's own 2024 report to the city
  • ✓Emissions rates for 2024 to 2029 match the law
  • ✓Emissions rates for 2030 on match the city rule
  • ✓The property type is matched to the city's category
  • ○The compliance route the city assigns is not confirmed

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