Landlords see red vs. new green bldg. rules

Landlords have blasted a new push by left-wing city lawmakers to require environmental retrofitting of about 1,000 Big Apple apartment buildings in a 2019 green-buildings law expansion, saying the measure would require millions in upgrades they cannot afford during the COVID-19 economic downturn.

“This bill would add a sixfigure, and in some cases more, item to the budget of a small- or medium-sized rentstabilized building,” said Joseph Condon of the Community Housing Improvement Program, a group representing owners of rent-stabilized housing. “Housing providers already have to grapple with increasing tax burdens, increasing insurance costs, and other increasing operational costs during this economic downturn.”

The bill, introduced by Councilman Costa Constantinides (D-Queens), would require that many buildings with rent-regulated apartments meet the council’s greening mandate for buildings larger than 25,000 square feet, which requires a 40 percent emissions reduction by 2030 — and 80 percent by 2050.

Large buildings account for 30 percent of the greenhouse-gas emissions in the five boroughs, according to some estimates.

Zachary Steinberg of the Real Estate Board of New York said the council’s timing is way off. “Any expansion of local carbon-emission mandates must be reflective of the buildings’ physical and financial realities, particularly now in a moment of economic downturn,” Steinberg said.