Does 488 7th Avenue face NYC Local Law 97 penalties in 2030?

Under 2030 statutory caps, 488 7th Avenue has a projected annual penalty of $44,069/year under Article 320 from 2024.

What is the statutory compliance pathway for 488 7th Avenue (BBL 1007860042)?

488 7th Avenue is classified under Article 320 from 2024 based on NYC Department of Buildings Covered Buildings List records.

Multifamily Housing BBL: 1007860042 Article 320 from 2024

488 7th Avenue

488 7th Avenue, Manhattan, NY 10018

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Statutory Compliance Finding & Executive Summary

According to official NYC DOB records and Local Law 84 benchmarking, 488 7th Avenue (Manhattan, BBL 1007860042) is subject to NYC Local Law 97 under Article 320 from 2024. Based on a reported emissions intensity of 5.20 kgCO2e/sq ft against a 2030 statutory limit of 3.35 kgCO2e/sq ft, the property faces an estimated statutory penalty of $44,069 per year starting in 2030 (total 5-year cumulative exposure of $220,345) unless decarbonization retrofits or a Good Faith Effort penalty pause under 1 RCNY § 103-14(i) are implemented.

Reported Carbon Intensity

5.20 kgCO2e/sq ft

LL84 Benchmarking CY2024

2024–2029 Cap & Status

6.77 kg/sq ft

Compliant ($0)

2030–2034 Annual Penalty

$44,069/year

$44,069/yr

5-Year Cumulative Exposure

$220,345

2030–2034 statutory liability

Property Benchmarking & Compliance Ledger

NYC Admin Code § 28-320

Gross Floor Area (GFA)

88,872 sq ft

Dwelling / Commercial Units

104 units

Governing Compliance Pathway

Article 320 from 2024

Statutory Excess Rate

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

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