75-59 263rd Street: Local Law 97 penalty estimate: $9,171,876 a year from 2030
What would the estimated penalty be in 2030, assuming nothing changes?
$9,171,876/year
- Beginning in 2030, the city drops the emissions cap by 50%.
- At the same energy use, 75-59 263rd Street will be 34,223 tons over the cap.
- Penalty is $268/ton over the cap, $9,171,876 total
266 ton cap34,223 over
What is the estimated penalty for 75-59 263rd Street right now?
$11,074,908/year
- NYC caps a building's yearly greenhouse gas emissions.
- 75-59 263rd Street is 41,324 tons over the emissions cap.
- Penalty is $268/ton over the cap, $11,074,908 total
531 ton cap41,324 over
Why does the penalty change in 2030?
- The emissions cap will be lowered by 50% in 2030, from 531 to 266 tons.
- NYC's grid will become cleaner by 2030, reducing this building's projected emissions from 41,855 to 34,489 tons.
- Energy use is held the same.
- Tons over go from 41,324 to 34,223 tons.
How much would the building need to cut its emissions to avoid the penalty?
100% less emissions than today
- This building must emit 100% less to avoid penalties.
- Owners can utilize energy efficiency upgrades or switch from gas or oil to electric.
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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