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FeeWarden

Local Law 97 penalty estimate

705 Gerard Avenue may pay $5,630/year in fees starting in 2030

Multifamily Housing · 68,505 sq ft · Bronx

Current fee: none

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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 21 tons over the cap.
  • Penalty is $268/ton over the cap, $5,630 total
What is the estimated penalty for 705 Gerard Avenue right now?

$0/year

  • 705 Gerard Avenue is 116 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 462 to 279 tons.
  • NYC's grid will become cleaner by 2030, reducing this building's projected emissions from 346 to 300 tons.
  • At the same energy use, this property goes from 0 to 21 tons over the cap.
How much would the building need to cut its emissions to avoid the penalty?

7% less emissions than today

How energy efficient is 705 Gerard Avenue?

59/100, grade C

  • It scores 59 out of 100 (grade C), which is above average compared to its peers.
  • It uses 86 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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