Does 38-40 Saint Nicholas Place face NYC Local Law 97 penalties in 2030?

Under 2030 statutory caps, 38-40 Saint Nicholas Place has a projected annual penalty of $54,969/year under Article 320 from 2026 (rent regulated).

What is the statutory compliance pathway for 38-40 Saint Nicholas Place (BBL 1020540096)?

38-40 Saint Nicholas Place is classified under Article 320 from 2026 (rent regulated) based on NYC Department of Buildings Covered Buildings List records.

Multifamily Housing BBL: 1020540096 Article 320 from 2026 (rent regulated)

38-40 Saint Nicholas Place

38-40 Saint Nicholas Place, Manhattan, NY 10031

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Statutory Compliance Finding & Executive Summary

According to official NYC DOB records and Local Law 84 benchmarking, 38-40 Saint Nicholas Place (Manhattan, BBL 1020540096) is subject to NYC Local Law 97 under Article 320 from 2026 (rent regulated). Based on a reported emissions intensity of 9.96 kgCO2e/sq ft against a 2030 statutory limit of 3.35 kgCO2e/sq ft, the property faces an estimated statutory penalty of $54,969 per year starting in 2030 (total 5-year cumulative exposure of $274,845) unless decarbonization retrofits or a Good Faith Effort penalty pause under 1 RCNY § 103-14(i) are implemented.

Reported Carbon Intensity

9.96 kgCO2e/sq ft

LL84 Benchmarking CY2024

2024–2029 Cap & Status

6.75 kg/sq ft

$26,681/yr

2030–2034 Annual Penalty

$54,969/year

$54,969/yr

5-Year Cumulative Exposure

$274,845

2030–2034 statutory liability

Property Benchmarking & Compliance Ledger

NYC Admin Code § 28-320

Gross Floor Area (GFA)

31,014 sq ft

Dwelling / Commercial Units

30 units

Governing Compliance Pathway

Article 320 from 2026 (rent regulated)

Statutory Excess Rate

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

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