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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.