Does 5 PENN PLAZA face NYC Local Law 97 penalties in 2030?

Under 2030 statutory caps, 5 PENN PLAZA has a projected annual penalty of $645,444/year under Article 320 from 2024.

What is the statutory compliance pathway for 5 PENN PLAZA (BBL 1007570031)?

5 PENN PLAZA is classified under Article 320 from 2024 based on NYC Department of Buildings Covered Buildings List records.

Office BBL: 1007570031 Article 320 from 2024

5 PENN PLAZA

5 PENN PLAZA, Manhattan, NY 10001

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Statutory Compliance Finding & Executive Summary

According to official NYC DOB records and Local Law 84 benchmarking, 5 PENN PLAZA (Manhattan, BBL 1007570031) is subject to NYC Local Law 97 under Article 320 from 2024. Based on a reported emissions intensity of 6.62 kgCO2e/sq ft against a 2030 statutory limit of 2.68 kgCO2e/sq ft, the property faces an estimated statutory penalty of $645,444 per year starting in 2030 (total 5-year cumulative exposure of $3,227,220) unless decarbonization retrofits or a Good Faith Effort penalty pause under 1 RCNY § 103-14(i) are implemented.

Reported Carbon Intensity

6.62 kgCO2e/sq ft

LL84 Benchmarking CY2024

2024–2029 Cap & Status

8.46 kg/sq ft

Compliant ($0)

2030–2034 Annual Penalty

$645,444/year

$645,444/yr

5-Year Cumulative Exposure

$3,227,220

2030–2034 statutory liability

Property Benchmarking & Compliance Ledger

NYC Admin Code § 28-320

Gross Floor Area (GFA)

611,625 sq ft

Dwelling / Commercial Units

0 units

Governing Compliance Pathway

Article 320 from 2024

Statutory Excess Rate

$268 per metric ton excess CO2e (§ 28-320.6)

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