Deal Spotlight
Financing for Efficiency Measures in Planned High-Performance Brooklyn Multifamily Building
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Projected energy savings
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Projected GHG savings
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The Building: 651 New York Ave
Building type
Multifamily
Building size
1 building
28,489 square feet
40 units
Year built
2015
Location
Brooklyn, NY
Project type
Energy efficiency
Upgrades
HVAC, windows, solar shading
NYCEEC loan product
Equipment loan
Term
1.3 years
Closing date
October 2015
The Project
NYCEEC provided a loan for just the efficiency work, enabling the developer to upgrade from standard building code to deeper, high performance building standards. Specific high-performance building measures included triple pane windows and bi-folding doors, high efficiency VRF heat pumps for all residential and common spaces, thermal break installation & spray foam insulation in the concrete slab between the solar shades and interior spaces, and solar shading to reduce solar gain.
Total Project Cost
$14.5 M
Other Sources
$12.7 M
NYCEEC Loan
$1.8 M
The Results
The benefits of a high-performance building extend well beyond just the energy cost savings. Residents enjoy a healthier, quieter and more comfortable living environment because of controlled ventilation, tight air sealing and insulation. Well-insulated buildings are also more resilient because they can hold comfortable and livable temperatures much longer during power outages.