September 10, 2026 New York City’s Local Law 97 is changing the economics of building ownership and modernization. Many buildings over 25,000 square feet are subject to carbon-emissions limits, with financial penalties for exceeding those limits and substantially more stringent requirements beginning in 2030. At the same time, New York is experiencing significant façade renewal, building electrification and office-to-residential conversion. Together, these forces create an op
