Local Law 97 penalty estimate
2 East 55th Street may pay $83,882/year in fees starting in 2030
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Why is this property expected to pay a fee beginning in 2030?
- Beginning in 2030, the city drops the emissions cap by 47%.
- At the same energy use, 2 East 55th Street will be 313 tons over the cap.
- Penalty is $268/ton over the cap, $83,882 total
0Cap: 2,251 tons2.6k
What is the estimated penalty for 2 East 55th Street right now?
$0/year
- NYC caps a building's yearly greenhouse gas emissions.
- 2 East 55th Street is 601 tons under the emissions cap.
- So it may not owe a penalty.
0Cap: 4,223 tons3.6k
Why does the penalty change in 2030?
- The emissions cap will be lowered by 47% in 2030, from 4,223 to 2,251 tons.
- NYC's grid will become cleaner by 2030, reducing this building's projected emissions from 3,623 to 2,564 tons.
- Energy use is held the same.
- Tons over go from 0 to 313 tons.
How much would the building need to cut its emissions to avoid the penalty?
13% less emissions than today
- This building must emit 13% less to avoid penalties.
- Owners can utilize energy efficiency upgrades or switch from gas or oil to electric.
How energy efficient is 2 East 55th Street?
39/100, grade D
- 2 East 55th Street scores 39 out of 100 for energy efficiency.
- That is grade D on the city's scale. 50 is typical for its type.
- It uses 138 kBtu per sq ft a year.
DCBA
390100
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 match of this property type to the city's category is still being checked
- ○The compliance route the city assigns is not confirmed
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