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Local Law 97 penalty estimate

388 EAST 141ST STREET: $1,376,466/year in fees starting in 2030

Multifamily Housing · 670,550 sq ft · Bronx

Current fee: $1,136,863/year

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What would the estimated penalty be in 2030, assuming nothing changes?

$1,376,466/year

  • Beginning in 2030, the city drops the emissions cap by 40%.
  • At the same energy use, 388 EAST 141ST STREET will be 5,136 tons over the cap.
  • Penalty is $268/ton over the cap, $1,376,466 total
What is the estimated penalty for 388 EAST 141ST STREET right now?

$1,136,863/year

  • NYC caps a building's yearly greenhouse gas emissions.
  • 388 EAST 141ST STREET is 4,242 tons over the emissions cap.
  • Penalty is $268/ton over the cap, $1,136,863 total
Why does the penalty change in 2030?
  • The emissions cap will be lowered by 40% in 2030, from 4,526 to 2,729 tons.
  • NYC's grid will become cleaner by 2030, reducing this building's projected emissions from 8,768 to 7,865 tons.
  • Energy use is held the same.
  • Tons over go from 4,242 to 5,136 tons.
How much would the building need to cut its emissions to avoid the penalty?

66% less emissions than today

  • This building must emit 66% 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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