In this week’s episode of Inside R&E, Michael T. Carr, real estate attorneys at R&E, answer the leading questions surrounding Local Law 97, implemented in November 2019 as part of New York City’s comprehensive effort to reduce greenhouse gas emissions from buildings. With compliance periods starting as early as January 1, 2024, Michael explain which buildings are subject to LL97 requirements along with the financial and legal consequences of non-compliance. As owners await clarity on the regulations to be passed by the Department of Buildings regarding LL97, this episode shows how real estate players can proactively address these challenges by staying at the forefront of legal developments and meeting with design and engineering experts to determine how their properties will be impacted by LL97 and to determine exactly what changes are needed to bring their buildings to compliant emissions levels.
Michael regularly advises some of the largest landlords in New York City concerning their real estate operations needs. His advisory work extends through litigation strategy, leasing strategy and compliance issues. In connection with Michael’s work advising on compliance issues, LL97 has clearly become the leading new concern faced by both landlords and tenants.
For any questions related to this episode, please contact Michael T. Carr at [email protected], (212) 551-1286.
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