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838 5 Avenue may pay $19,975/year in fees starting in 2030

Multifamily Housing · 70,892 sq ft · Manhattan

Current fee: $13,419/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 75 tons over the cap, a $19,975 penalty.
What is the estimated penalty for 838 5 Avenue right now?

$13,419/year

  • This property is 50 tons over the cap, a $13,419 penalty.
How will this property’s penalty change in 2030?
  • The emissions cap will be lowered by 40% in 2030, from 479 to 289 tons.
  • A cleaner grid cuts emissions from 529 to 363 tons by 2030. Current trends put it 75 tons over the cap, up from 50.
How much would the building need to cut its emissions to avoid the penalty?

21% less emissions than today

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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