Deal Spotlight
Scalable Solution for High Performance Building Envelope Systems Implemented in East Harlem
$
0
NYCEEC Loan
0
MT CO2e
Lifetime GHG Savings
0
MMBtu
Lifetime Source Energy Saving
The Building
Building type
Multifamily
Building size
- 1 Building
- 28,640 Square Feet
- 50 Units
- 34 Affordable Units
Year Built
1974
Location
New York, NY
Project type
Building Retrofit
Upgrades
Panelized High
Performance Building
Envelope Installation
NYCEEC Loan Product
Direct Loan
Term
1.5 Years
Closing Date
April, 2023
The Project
NYCEEC provided a $700,000 loan to Dextall, an innovative company that produces unitized prefabricated exterior wall systems with the goal of accelerating decarbonization by creating affordable and efficient solutions for retrofitting buildings. NYCEEC’s loan helped to finance the costs to manufacture and ship Dextall’s panels for installation at a retrofit project at The Heritage in the East Harlem neighborhood of New York City.
The Heritage is owned by L+M Development Partners, one of the largest affordable housing developers in the U.S. The building is currently under a 40-year regulatory agreement to preserve long-term affordability.
Total Project Cost
$1,400,000
NYCEEC loan
$700,000
The Results
Dextall was approved by NYSERDA in August 2021 as one of four designated prefabricated panel providers with the purpose of forwarding the goals of the RetrofitNY Program. Dextall aims to reduce onsite waste and labor costs through offsite manufacturing, increase energy efficiency (exceeding code requirements by upwards of 16% and reaching Passive House standards for affected areas), and reduce the length of construction. NYCEEC was excited to help finance the improvements at this rental building, to promote the environmental aims of Dextall, and to help bolster the RetrofitNY program.