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FeeWarden

Local Law 97 penalty estimate

865 Noble Avenue may pay $376,870/year in fees starting in 2030

Multifamily Housing · 238,800 sq ft · Bronx

Current fee: $205,458/year

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Why is this property expected to pay a fee beginning in 2030?
  • Beginning in 2030, the city drops the emissions cap by 40%.
  • At the same energy use, 865 Noble Avenue will be 1,406 tons over the cap.
  • Penalty is $268/ton over the cap, $376,870 total
What is the estimated penalty for 865 Noble Avenue right now?

$205,458/year

  • NYC caps a building's yearly greenhouse gas emissions.
  • 865 Noble Avenue is 767 tons over the emissions cap.
  • Penalty is $268/ton over the cap, $205,458 total
Why does the penalty change in 2030?
  • The emissions cap will be lowered by 40% in 2030, from 1,612 to 972 tons.
  • NYC's grid will become cleaner by 2030, reducing this building's projected emissions from 2,379 to 2,378 tons.
  • Energy use is held the same.
  • Tons over go from 767 to 1,406 tons.
How much would the building need to cut its emissions to avoid the penalty?

60% less emissions than today

  • This building must emit 60% less to avoid penalties.
  • Owners can utilize energy efficiency upgrades or switch from gas or oil to electric.
How reliable is this estimate?
  • This is a planning estimate, not the city's official number.
  • Owners report their own energy use, and reports can have mistakes.
  • The city makes the final call.
  • ✓Energy use comes from the building's own 2024 report to the city
  • ✓Emissions rates for 2024 to 2029 match the law
  • ✓Emissions rates for 2030 on match the city rule
  • ✓The property type is matched to the city's category
  • ○The compliance route the city assigns is not confirmed

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