Does 425 East 58th Street face NYC Local Law 97 penalties in 2030?

Under 2030 statutory caps, 425 East 58th Street has a projected annual penalty of $1,407,052/year under Article 320 from 2026 (rent regulated).

What is the statutory compliance pathway for 425 East 58th Street (BBL 1013700015)?

425 East 58th Street is classified under Article 320 from 2026 (rent regulated) based on NYC Department of Buildings Covered Buildings List records.

Multifamily Housing BBL: 1013700015 Article 320 from 2026 (rent regulated)

Sovereign - 425 East 58th Street

425 East 58th Street, Manhattan, NY 10022

Generate Official Board Memo ($495)

Statutory Compliance Finding & Executive Summary

According to official NYC DOB records and Local Law 84 benchmarking, 425 East 58th Street (Manhattan, BBL 1013700015) is subject to NYC Local Law 97 under Article 320 from 2026 (rent regulated). Based on a reported emissions intensity of 8.41 kgCO2e/sq ft against a 2030 statutory limit of 3.10 kgCO2e/sq ft, the property faces an estimated statutory penalty of $1,407,052 per year starting in 2030 (total 5-year cumulative exposure of $7,035,260) unless decarbonization retrofits or a Good Faith Effort penalty pause under 1 RCNY § 103-14(i) are implemented.

Reported Carbon Intensity

8.41 kgCO2e/sq ft

LL84 Benchmarking CY2024

2024–2029 Cap & Status

6.75 kg/sq ft

$439,910/yr

2030–2034 Annual Penalty

$1,407,052/year

$1,407,052/yr

5-Year Cumulative Exposure

$7,035,260

2030–2034 statutory liability

Property Benchmarking & Compliance Ledger

NYC Admin Code § 28-320

Gross Floor Area (GFA)

988,829 sq ft

Dwelling / Commercial Units

360 units

Governing Compliance Pathway

Article 320 from 2026 (rent regulated)

Statutory Excess Rate

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

Need the full statutory audit for your board packet?

Instantly generate the verified 2-page board memo, C-PACE financing schedule, and verbatim board resolutions for 425 East 58th Street.

Unlock Board Memo ($495)