Brooklyn Condos Join Big Apple’s High Performance Building Movement with Loan from NYCEEC

NYCEEC lends a helping hand to New York City’s high performance building movement.

By Anca Gagiuc, Associate Editor

651 New York Avenue

651 New York Avenue, Brooklyn, NY

New York—The New York City Energy Efficiency Corp. provided a $1.8 million construction loan for Hello Living’s multifamily condominium project 651 New York Ave in Brooklyn. The funds are aimed for the project’s energy efficiency measures.

“We’re committed to advancing high performance building standards because it’s the right thing to do—conserving energy, saving money, improving comfort and reducing greenhouse gases,” said Chris Diamond, head of engineering at NYCEEC. “651 New York Avenue is a great example of how buildings should be constructed if we want to effectively fight climate change.”

High-performance buildings have benefits that go beyond energy cost savings. Controlled ventilation, tight air sealing and insulation improve the residents’ living environment. Furthermore, well-insulated properties are more resilient, as they can maintain optimum temperatures much longer in case of power outages.

The six-story, 40-unit condominium located in Prospect-Lefferts Gardens, Brooklyn strives to achieve 45 percent energy savings and 62 percent greenhouse gas savings, compared to a conventionally developed building. The high efficiency measures installed at the property include triple pane windows and doors, high efficiency heat pumps and thick exterior foam insulation.

“As a property developer, working with NYCEEC was great,” said Eli Karp, CEO of Hello Living. “NYCEEC tailored a solution that fit our borrowing needs by providing a loan for just the efficiency work.  We’re excited to embark on this new partnership with NYCEEC.”

NYCEEC has financed over $64 million of projects across 4.2 million square feet of property throughout New York City since 2012. The clean energy technologies include energy efficiency, renewables, demand management, cogeneration and fuel conversions, across all building types and neighborhoods.

Rendering courtesy of Hello Living

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