NYC to Rate Your Building’s Energy Efficiency

Under the new Local Law 33 of 2018, New York City will begin to assign letter grades to buildings rating them on their energy usage, and by 2020 that information will become public.  Under the City’s expanded “Benchmarking” regulations—set out in Local Law 133 of 2016—owners of all buildings over 25,000 square feet must report water and energy consumption annually through the City’s online portal (https://www.energystar.gov/buildings/facility-owners-and-managers/existing-buildings/use-portfolio-manager). Failure to report can carry fines of up to $2,000 per year.

The City will use the reported information to create metrics to track and compare the energy efficiency of similar buildings, and ultimately will release a rating for each property, which will be available to the public. A better rating will have a positive impact on property values, giving owners an incentive to take action to cut back on water and energy consumption, as part of the City’s goal to reduce greenhouse gas emissions by 80% between 2005 and by 2050.

We at DEPM care deeply about energy conservation and have instituted many improvements in our client buildings, including converting boilers from oil to gas, replacing incandescent lights with energy saving LED lights, installing new windows and more. Our managers are working with all their properties to implement conservation initiatives and to prepare for the energy grades. For more information on the City’s Benchmarking program, visit https://www1.nyc.gov/site/buildings/business/benchmarking.page

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New York City will soon begin giving out letter grades to all buildings over 25,000 square feet, rating their energy efficiency. This “Benchmarking” info will become public in 2020, and could impact property values. Now’s the time to to implement energy-saving programs in your property.

Take the Carbon Challenge And Help Reduce Greenhouse Gas Emissions

Launched in 2007, the City’s ambitious PlaNYC program laid out long-range plans for improving the quality of life in New York City. In the years since, huge strides have been made toward achieving many of these goals, from cleaner air to more comprehensive recycling. An important part of this plan is the “NYC Carbon Challenge,” whose goal is to reduce greenhouse gas (GHG) emissions by 30 percent by the year 2030.

Residential buildings are the largest single contributor to the City’s GHG emissions, accounting for 37 percent. As leaders in our industry we recognized our responsibility to advocate for positive change in the City, and Douglas Elliman Property Management became an active Participant in the Carbon Challenge.

Since joining the program in January, we have embarked on meeting the Multi-Family Property Challenge goal of reducing emissions by at least 30 percent over ten years in at least 15 of our managed properties. We expect to far exceed that goal, and are already well on our way as more of our clients recognize the impact they can have in creating cleaner, safer air.

Nearly a year ago, DEPM was recognized by the NYC Clean Heat program, another facet of PlaNYC, for converting over 75 percent of our managed properties to cleaner fuel. As one of the few property management firms on the Clean Heat Task Force, we have worked hard to convert our properties from highly polluting No. 6 and No. 4 fuel oil to cleaner sources of heat, such as No. 2 oil, natural gas, biodiesel or steam. Not only are these buildings helping to improve the air quality in their neighborhoods, but in many cases they are saving money as well.

There is plenty that multi-family buildings can do to help make the Mayor’s Carbon Challenge a reality. Start by visiting the website at http://www.nyc.gov/html/gbee/html/challenge/multifamily-buildings.shtml and download the Handbook for Co-ops and Condos at http://www.nyc.gov/html/gbee/downloads/pdf/handbook_for_co-ops_and_condos.pdf for tips on the benefits of conservation, and how to make changes in your building that will save both energy and money.

Properties that participate in the program will receive a free mini-energy audit to help them get started. For more information, please call our in-house expert Vice President + Architect Peter Lampen at 212-370-9200 or email peter.lampen@ellimanpm.com.

Help build a cleaner New York City: Take the Carbon Challenge!

Visit nyc.gov and download the handbook to learn what Co-op and Condo owners can do to help reduce carbon emissions and improve the City's air quality.

Visit nyc.gov and download the handbook to learn what Co-op and Condo owners can do to help reduce carbon emissions and improve the City’s air quality.