Landlords mull heating fuel conversions sooner rather than later

TRD New York /
Jul.July 22, 2011 06:10 PM

Apartment buildings throughout the city are reviewing their heating systems as they consider how to comply with new regulations issued by the Bloomberg administration in April, the New York Times reported. The new rules require that around 10,000 buildings using cheap, but “dirty,” No. 6 heating oil switch to No. 4 heating oil by 2014. But because the rules also state that buildings will either need to begin using No 2. heating oil or natural gas by 2030, some landlords are considering making the larger switch earlier in order to save money on multiple conversions. While the conversion process is expensive, natural gas costs about 30 percent less than fuel oil. According to the Times, for the Brevoort, a co-op tower in Greenwich Village, switching to natural gas cost $225,000 and involved replacing the burner on the boiler, removing two 20,000-gallon oil tanks, and installing equipment to draw gas from the available Con Edison pipeline. However, the Brevoort’s board now expects to save $70,000 a year in fuel costs. The New York State Energy Research and Development Authority hopes to offer more grants to encourage fuel conversion in the future. [NYT]


Related Articles

arrow_forward_ios
Tamara Mellon and her former home at 155 West 11th Street (Credit: Getty Images)

Jimmy Choo co-founder Tamara Mellon sells condo for $19M

297 West 12th Street and Steve Croman (Credit: Google Maps and Getty Images)

Croman backed out of deal over rent-control concerns: lawsuit

Steve Croman and 566 Hudson Street (Credit: Google Maps, iStock)

Steve Croman sued over illegally deregulating apartments

184-188 West 10th Street (Credit: Google Maps)

Here’s what the $10M-$20M NYC investment sales market looked like last week

These are some of the most notable resi sales of the week

These are some of the most notable resi sales of the week

Charity doesn’t come cheap: Former Bear Stearns exec relists townhouse for $60M

Charity doesn’t come cheap: Former Bear Stearns exec relists townhouse for $60M

Historic Greenwich Village theater Quad Cinema could face eviction

Historic Greenwich Village theater Quad Cinema could face eviction

Bradley Cooper revealed as buyer of this  off-market townhouse

Bradley Cooper revealed as buyer of this
off-market townhouse

arrow_forward_ios
Loading...