Deal Spotlight
Upgrades to HVAC for Efficiency and Comfort in Brooklyn Multifamily Buildings
$
0
Annual cost savings
0
%
Projected energy savings
0
%
Projected GHG savings
The Building: Boro Park Village
Building type
Multifamily
Building size
2 buildings
50,000 square feet
52 units
Year built
1984
Location
Brooklyn, NY
Project type
Energy efficiency
Upgrades
HVAC
NYCEEC loan product
Equipment loan
Term
6 years
Closing date
April 2015
The Project
The owners wanted to take advantage of NYSERDA’s incentives and low-cost financing from its Green Jobs Green New York (GJGNY) program. Along with the NYCEEC loan the owners installed upgrades to its aerators, air sealing, direct-fired (instant) hot water heaters, energy management system, heating and heat distribution balancing, insulation, variable frequency drives.
Total Project Cost
$243,000
Incentives
$65,000
NYCEEC Loan
$130,000
Annual Savings
$24,812
The Results
Not only were the annual cost savings extremely helpful to the buildings’ bottom line, the buildings are now more comfortable. They are less drafty and heat more evenly with significant reductions in wasted energy. The hot water systems were also able to provide instant hot water, meeting the residents’ needs and comfort.