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1200 Fifth Avenue may pay $18,935/year in fees starting in 2030

Multifamily Housing · 112,559 sq ft · Manhattan

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 71 tons over the cap, a $18,935 penalty.
What is the estimated penalty for 1200 Fifth Avenue right now?

$0/year

  • 1200 Fifth Avenue is 47 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 762 to 459 tons.
  • A cleaner grid cuts emissions from 715 to 529 tons by 2030. Current trends put it 71 tons over the cap, up from 0.
How much would the building need to cut its emissions to avoid the penalty?

14% less emissions than today

How energy efficient is 1200 Fifth Avenue?

5/100, grade D

  • It scores 5 out of 100 (grade D), which is well below average compared to its peers.
  • It uses 109 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 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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