SUCCESS BY THE NUMBERS

85
PROJECTED ENERGY SAVINGS
72
PROJECTED GHG REDUCTION
1
VEHICLES REMOVED OFF THE ROAD

OVERVIEW


651 New York Avenue is a new construction 6-story, 40-unit condominium in Prospect Lefferts Gardens, Brooklyn. The construction developer sought to build the property to high performance building standards.

NYCEEC provided a loan for just the efficiency work, enabling the developer to upgrade from standard building code to deeper, high performance building standards.

  • Project type: High performance energy efficiency
  • Total project cost:  $14,500,00M
  • Financial product: Equipment loan
  • NYCEEC role:  $1,839,410M loan

THE CLIENT CHALLENGE


651 New York Avenue is a new construction 6-story, 40-unit condominium in Prospect Lefferts Gardens, Brooklyn. The construction developer sought to build the property to high performance building standards. Conventional lenders did not recognize the financial benefits of this deeper energy efficient standard.

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THE NYCEEC SOLUTION


NYCEEC provided a loan for just the efficiency work, enabling the developer to upgrade from standard building code to deeper, high performance building standards. Specific high-performance building measures included

  • Triple pane windows and bi-folding doors

  • High efficiency VRF heat pumps for all residential and common spaces

  • Thermal break installation & spray foam insulation in the concrete slab between the solar shades and interior spaces

  • Solar shading to reduce solar gain

THE RESULTS

The benefits of a high performance building extend well beyond just the energy cost savings. Residents enjoy a healthier, quieter and more comfortable living environment because of controlled ventilation, tight air sealing and insulation. Well-insulated buildings are also more resilient because they can hold comfortable and livable temperatures much longer during power outages.

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The combination of NYCEEC’s financial solutions and high performance building standards are transforming New York City’s building and construction industry

– Mr. E. Karp | CEO Hello Living