Deal Spotlight
Financing for Fuel Conversion in Brooklyn Affordable Multifamily Housing
$
0
Annual cost savings
0
%
Projected energy savings
0
%
Projected GHG savings
The Building: Spencer Place
Building type
Affordable multifamily
Building size
1 building
4,500 square feet
5 units
Year built
1930
Location
Brooklyn, NY
Project type
Energy efficiency and fuel conversion
Upgrades
Lighting and fuel conversion
NYCEEC loan product
Equipment loan
Term
5 years
Closing date
August 2013
The Project
The project was a retrofit of the affordable multifamily building in Brooklyn. The building owner sought to save money and improve building performance by implementing energy upgrades recommended in its NYSERDA energy audit.
Total Project Cost
$56,985
NYCEEC Loan
$56,985
Annual Savings
$5,484
The Results
Spencer Place upgraded its building systems at no initial cost and was able to increase tenant comfort with minimal disruption. The building is now greener and better-performing.