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Local Law 97 penalty estimate

585 8th Avenue

Hotel · 103,133 sq ft · Manhattan

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What would the estimated penalty be in 2030, assuming nothing changes?

$0/year

  • Beginning in 2030, the city drops the emissions cap by 47%.
  • At the same energy use, 585 8th Avenue will stay under the cap.
  • So it owes no penalty.
What is the estimated penalty for 585 8th Avenue right now?

$0/year

  • NYC caps a building's yearly greenhouse gas emissions.
  • 585 8th Avenue is 451 tons under the emissions cap.
  • So it owes no penalty.
Why does the penalty change in 2030?
  • The emissions cap will be lowered by 47% in 2030, from 1,018 to 542 tons.
  • NYC's grid will become cleaner by 2030, reducing this building's projected emissions from 567 to 379 tons.
  • Energy use is held the same.
  • Tons over go from 0 to 0 tons.
How much would the building need to cut its emissions to avoid the penalty?
  • No cut is needed.
  • At its current energy use it stays under the 2030 cap.
How energy efficient is 585 8th Avenue?

63/100, grade C

  • 585 8th Avenue scores 63 out of 100 for energy efficiency.
  • That is grade C on the city's scale. 50 is typical for its type.
  • It uses 78 kBtu per sq ft a year.
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 match of this property type to the city's category is still being checked
  • ○The compliance route the city assigns is not confirmed

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