High tides are flooding coastal communities with record frequency

As sea levels rise, coastal communities prone to flooding are not only threatened by storm surges, but also the moon. Last year, there were twice as many high-tide flooding days — defined as days when tides are 1.75 to 2 feet above the daily average high tide — than there were 20 years ago, according to the National Oceanic Atmospheric Administration. Storms used to be the main cause of flooding, but now the full moon’s

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Climate change a “non-issue” in Hamptons despite exceptional vulnerability

Sea levels are rising. Catastrophic storms are increasing. Temperatures are soaring to unprecedented highs. Yet here in the Hamptons, oceanfront property is at an all-time premium. One Southampton estate is asking $175 million. Another is in contract with a last asking price of $145 million; its listing agency, Bespoke, says it’s a record sum for a single parcel. A new listing asks $85 million for “the largest single lot on the ocean in Southampton village”

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Owners’ chance for emissions cap break is over

The window for certain property owners to apply for a break from the city’s emission caps has closed. Owners had until June 30 to apply for a temporary adjustment to emission limits set by Local Law 97. Under the measure, buildings larger than 25,000 square feet must start meeting new greenhouse-gas emission levels in 2024. The rules are intended to help the city meet its goal of cutting emissions 40 percent by 2030 and 80

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WATCH: How to plan the New York City of 2050

A new administration is heading for New York City, but developer Jonathan Rose believes a plan for the next four years is not enough. “We need to have a collective vision,” Rose said in the latest episode of TRD’s Coffee Talk. That means planning for the New York of 2050, not 2024. “Say we want to be the best school system in the world,” Rose explained in an interview with TRD’s Hiten Samtani. “It’s a

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Real estate clashes with climate advocates over proposed fossil fuel ban

In January, Mayor Bill de Blasio vowed to ban fossil fuel hookups in new buildings by 2030. Now, the City Council is trying to bump up that deadline. The council on Thursday introduced a bill that would effectively bar the use of natural gas in any new building or property that undergoes a major renovation. The measure, sponsored by Brooklyn Council member Alicka Ampry-Samuel, would kick in two years after it passes, several years ahead

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Hudson Valley hotel project scores state’s largest clean energy loan

SY Holdings’ Hudson Valley boutique hotel project scored a $21.6 million construction loan through the state-approved clean energy program. The development is being pitched as one of the greenest hotels in the country. CleanFund provided the debt for the 65-room Wildflower Farms in Gardiner, according to Commercial Observer. It’s the largest loan closed under New York state’s Commercial Property Assessed Clean Energy program, or C-PACE. The program provides cheaper financing for energy-efficient new construction and

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WATCH: How climate change puts real estate at risk

Where should you invest when seas are rising, temperatures and going up, and extreme weather events are looming? “There is no place on earth that is completely safe and no risk,” CBRE Global Investors’ Aleksandra (Sasha) Njagulj said in the latest installation of TRD Tips. “It doesn’t really depend that much on the building type or use… where the risks become more complex is actually infrastructure.” Njagulj, who oversees CBRE’s Environmental, Social, and Governance team,

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Watch: Urban Green Council’s John Mandyck on tackling climate change in NY

In the next five years, New York City’s building owners will need to radically rethink their approach to climate change — both for the health of the planet, and to avoid hefty fines. On the latest episode of the REInterview, TRD’s Hiten Samtani sat with the Urban Green Council CEO John Mandyck to break down real estate’s path to a greener future. And one thing is clear: Change is coming, thanks to Local Law 97,

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Landlords can now retroactively tap financing tool for energy improvements

New York City landlords and developers who borrowed money in the last three years for energy-saving improvements just got some good news. But they’ll have to wait to take advantage. Property owners can retroactively tap a new financing tool to secure a lower interest rate for work already done on projects like adding LED lights, upgrading insulation or installing solar panels on buildings. That’s according to new guidelines the city released last week on the

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