Moinian digs geothermal pump for co-op
August 12, 2008 07:24AM
655 Park Avenue
Developer Joseph Moinian is digging a 1,500-foot-deep geothermal well to heat and cool to the triplex at 655 Park Avenue he is renovating for his wife, Nazee Moinian. The building's co-op board denied requests for an HVAC system, prompting the installation, which costs about $150,000 more than central air, but pays for itself in less than a decade with energy savings. Says one of the Moinians' engineers, Ivan Pollack: "It's the next big frontier for the superrich," he says. "Who's going to be greener?" The drilling at the building at East 67th Street began July 18 and will last about a month.
[NYMag]
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