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New York City enacted Local Law 97 in 2019 to help reduce greenhouse gas emissions generated by buildings throughout the City.1 The law is part of the City’s Climate Mobilization Act, which aims to reduce building emissions by 40% by 2030 and 80% by 2050 from their 2005 levels.2It applies to buildings that are larger than 25,000 square feet on one tax lot, or multiple buildings on the same tax lot whose combined footprint exceeds 50,000 square feet.3 Covered buildings are required to meet...
New York City enacted Local Law 97 in 2019 to help reduce greenhouse gas emissions generated by buildings throughout the City.1 The law is part of the City's Climate Mobilization Act, which aims to reduce building emissions by 40% by 2030 and 80% by 2050 from their 2005 levels.2It applies to buildings that are larger than 25,000 square feet on one tax lot, or multiple buildings on the same tax lot whose combined footprint exceeds 50,000 square feet.3 Covered buildings are required to meet...
New York City enacted Local Law 97 in 2019 to help reduce greenhouse gas emissions generated by buildings throughout the City.1 The law is part of the City’s Climate Mobilization Act, which aims to reduce building emissions by 40% by 2030 and 80% by 2050 from their 2005 levels.2It applies to buildings that are larger than 25,000 square feet on one tax lot, or multiple buildings on the same tax lot whose combined footprint exceeds 50,000 square feet.3 Covered buildings are required to meet...
I recently attended the IMN Distressed CRE Forum in New York, alongside my colleagues Brian Cohen, Zev Gewurz and Doug Rosner. It was great to connect with and hear from people across many different places in the industry, including Brian, who moderated the panel, “Underwriting & Financing Distressed Property Acquisitions.” It was also striking to note how similarly everyone views the current challenges and opportunities around distressed commercial real estate.
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