Straight out of Orwell Local Law 97
The race to comply with New York's sweeping climate law
Local Law 97, which targets carbon emissions from buildings, has been giving the city's real estate industry agita since it was passed in 2019. Buildings must meet the law's mandates beginning in 2024 or face steep penalties.
In this month's Forum, we spoke with owners and managers at three buildings—a mostly rent-stabilized apartment building, a luxury co-op, and a market-rate apartment tower—to find out the realities of what it takes (and how much it costs) to comply with Local Law 97
thoth: https://www.crainsnewyork.com/climate-change/new-york-building-owners-race-meet-local-law-97-requirements