Deal Spotlight
Multifamily Express Green (MEG) Loan for Energy Efficient Retrofits in Brooklyn Condominium
Condominium Units
$
Total Project Cost
$
NYCEEC Loan
The Project
Building Type
Condominium
Building Size
8 Units
8,060 Square Feet
Year Built
2012
Location
Bedford-Stuyvesant, Brooklyn
Upgrades/Technology
Roof Replacement,
Building Exterior Retrofit
NYCEEC Loan Product
MEG Loan
Loan Term
10 years
Closing Date
May 2026
NYCEEC provided a $482,000 Multifamily Express Green (MEG) Loan to an eight-unit multifamily condominium in Bedford-Stuyvesant, Brooklyn, to finance a comprehensive building envelope and roof upgrade project. Constructed in 2012, the all-electric property will undergo a series of energy efficiency improvements to strengthen the building’s exterior, improve overall energy performance, and bolster thermal continuity. The project will include a full roof replacement, facade waterproofing, and new perimeter barriers to reduce uncontrolled air leaks.
Together, these upgrades will help to stabilize operating conditions across the building while lowering energy usage and improving physical durability. Additional measures like tapering insulation to improve drainage, upgrading monitoring systems, repairing damaged exterior walls, and adding protective layers to the roof will further improve efficiency and resilience. The project was referred to NYCEEC through the NYC Accelerator, helping connect the condominium with financing to support critical infrastructure improvements.
Getting this loan literally helped make our dreams come true.
The Project Numbers
NYCEEC Loan
$482,000
Borrower Equity
$53,000
Total Project Cost
$530,000
The Results
The project reflects a different take on energy efficiency – supporting an already electrified building by reducing demand through improved building performance, rather than simply switching fuel source. By strengthening the building envelope and minimizing energy loss, the upgrades are expected to reduce overall electricity usage, lower operating costs for residents, and ease strain on the electric grid. Along with increasing affordability and comfort for residents, the project demonstrates how targeted efficiency improvements can play a critical role in scaling energy resilience in New York City.