New York & Tri-State + Uptown/Bronx + Finance | September 12, 2018

NYCEEC Finances Clean Fuel Conversions Across 6 Bronx Buildings

Nonprofit specialty finance company NYCEEC has provided $1.4 million in loans to six buildings in the Bronx, all managed by Annal Management. The loans will be used for energy efficiency improvements and clean heat conversions on the properties, which were constructed in the 1930s and 1950s.

“New York has an enormous number of small to mid-sized rent-regulated properties,” said Posie Constable, NYCEEC’s director of business development. “This deal shows just how easy it is to make immediate improvements in their energy use and greenhouse gas impact.”

Dual Fuel Corporation was selected to install the new equipment and advanced controls. Construction is expected to be complete by September, in time to take advantage of $250,000 in Con Edison’s fuel conversion incentives. Four of the buildings are due to repay their loans over five years; the other two have six-year windows.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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