Local Law 97 in 2026: Where Co-op and Condo Boards Stand
October 18, 2026
New York’s landmark emissions law is now in its second compliance cycle. Here’s what boards need to know about costs, deadlines, and the relief efforts underway.
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Where the Compliance Clock Stands
Covered buildings — generally those over 25,000 square feet, which includes many co-ops and condos — file annual emissions compliance reports every May 1. Buildings have now moved through a second filing cycle, and residential co-ops and condos continue to be flagged as among the properties most likely to struggle meeting the city’s 2030 emissions limits, largely due to older building systems and the cost of retrofits.
The Price Tag
A study by the Council of New York Cooperatives & Condominiums estimated that bringing some smaller residential buildings into compliance could cost more than $90,000 per apartment by 2030. For many boards, that means a real conversation with shareholders or unit owners about financing — assessments, loans, or reserve draws — well before any penalty becomes a risk.
Help on the Way — Slowly
New York’s 2025 state budget allocated funding, administered through NYSERDA, for energy-efficient equipment in co-op and condo apartments. The program is budgeted for the 2026 fiscal year, but NYSERDA still has to finalize the rules and application process, so boards should watch for guidance rather than assume funds are available today.
A Possible Reprieve for Smaller Buildings
A City Council bill aimed at easing Local Law 97 penalties for co-ops and condos with lower average assessed values per unit has been introduced, but as of this writing it remains stalled in committee. Boards should not plan around relief that hasn’t passed.
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