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481 Wales Avenue may pay $58,403/year in fees starting in 2030

Multifamily Housing · 37,006 sq ft · Bronx

Current fee: $43,530/year

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Why is this property expected to pay a fee beginning in 2030?
  • Beginning in 2030, NYC drops the emissions cap by 40%.
  • At the same energy use, this property will be 218 tons over the cap, a $58,403 penalty.
What is the estimated penalty for 481 Wales Avenue right now?

$43,530/year

  • This property is 162 tons over the cap, a $43,530 penalty.
How will this property’s penalty change in 2030?
  • The emissions cap will be lowered by 40% in 2030, from 250 to 151 tons.
  • A cleaner grid cuts emissions from 412 to 369 tons by 2030. Current trends put it 218 tons over the cap, up from 162.
How much would the building need to cut its emissions to avoid the penalty?

60% less emissions than today

How energy efficient is 481 Wales Avenue?

7/100, grade D

  • It scores 7 out of 100 (grade D), which is well below average compared to its peers.
  • It uses 146 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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