Deal Spotlight
Financing for Local Law 43 Compliance with Fuel Conversion in Manhattan Co-op
$
0
Annual cost savings
0
%
Projected PM 2.5 savings
0
%
Projected GHG savings
The Building: West 90th Street
Building type
Multifamily
Building size
1 building
48,000 square feet
54 units
Year built
1929
Location
New York, NY
Project type
Energy efficiency and fuel conversion
Upgrades
HVAC and fuel conversion
NYCEEC loan product
Equipment loan
Term
5 years
Closing date
December 2013
The Project
The fuel conversion project brought the co-op into compliance with Local Law 43: Clean Heat and installed much more efficient separation of the heat and hot water systems because the boiler can now be shut down in the summer.
Total Project Cost
$548,000
Other Sources
$148,000
NYCEEC Loan
$400,000
Annual Savings
$27,848
Simple Payback Period
14.4 years
The Results
The oil tank was removed during the project and the building is now cleaner and better performing. The project preserved the building’s line of credit and resulted in energy cost savings and compliance with Local Law 43.