News: Owners Developers & Managers

350-352-354 West 12th St. completes decarbonization project with VRF Solutions

New York, NY A five-story co-op at 350-352-354 West 12th St. in the West Village has completely eliminated the carbon footprint of its three contiguous landmark buildings. Led by VRF Solutions LLC, a design-build mechanical contractor, the project entailed the installation of air source heating, air-conditioning, and hot water systems. 

The new mechanical systems will effectively decarbonize the buildings, bringing them into compliance with the Climate Mobilization Act (CMA), passed in 2019. Also known as Local Law 97, it mandates the decarbonization and electrification of New York City’s fossil fuel-based building infrastructure. Starting in 2024, the city will be imposing penalties based on a building’s carbon footprint.

“These are 158-year-old, landmark buildings featuring time-honored architectural details that are lovely to look at, but not energy efficient by today’s standards,” said VRF president Tom Esposito. “With the retrofit of the heating, air-conditioning, and domestic hot water infrastructure, the buildings are not only more comfortable, but they are also able to meet critical environmental standards and help the co-op avoid significant carbon penalties from the city.”

The benefits of the work include:

• Individual temperature control for improved occupant comfort

• Improved indoor air quality (IAQ) 

• Decarbonization

• Reduced operation and maintenance costs

• Increased property values

The 42-unit co-op was able to complete the work in less than a year because VRF Solutions provided a comprehensive design-build program that handled all of the project’s engineering, permit expediting, procurement, contracting, and commissioning work. 

Joe Novella, chief building scientist, said, “In the time it would have taken other co-ops to conduct a preliminary study and explore how to approach a project like this, VRF delivered the finished project. Because we do all the work in-house, our ability to value-engineer and execute on our client’s decarbonization and electrification projects takes half the time and is less expensive than the conventional approach.”

MORE FROM Owners Developers & Managers

GFP Development and CetraRuddy to speak at ICF “On the Future of City Living”

Manhattan, NY After the reveal of Wrey, the second office-to-residential luxury conversion by GFP Development and award-winning architecture and interior design firm CetraRuddy, two of its key design protagonists will speak at ICFF “On the Future of City Living.”
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
IREON Insights:  Research and development tax credit: Very important deadline for amendments is July 6 - by Richard Levychin

IREON Insights: Research and development tax credit: Very important deadline for amendments is July 6 - by Richard Levychin

If you are a company that either claimed or qualify for the research and development tax credit you need to be aware of the following update resulting from the One Big Beautiful Bill Act (OBBBA).
Hunt Commercial Real Estate Q&A:  Location, location, location? - by David Hunt

Hunt Commercial Real Estate Q&A: Location, location, location? - by David Hunt

In working with our clients, we break down our search objectives into two categories. The first category involves the specific needs of your business such as warehouse height, amount of office space and number of loading
Hunt Commercial Real Estate Question and Answer:  Evaluating the buyer - by David Hunt

Hunt Commercial Real Estate Question and Answer: Evaluating the buyer - by David Hunt

The Purchaser: This is usually a subjective decision. As an example, a large public company may be a desirable purchaser because it is financially strong, but
Follow the upside: How NYC  investors are rethinking real estate - by Thomas Donovan

Follow the upside: How NYC investors are rethinking real estate - by Thomas Donovan

In my earlier years of brokerage, my team had our investor list divided into five brackets – multifamily, retail, office, industrial and development. For the most part, multifamily investors only wanted to see multifamily