What’s News, Breaking: Tuesday, May 23, 2023
NEW RESIDENTIAL COMPLEX WILL HAVE CITY’S
LARGEST EVER ACTIVE GEOTHERMAL SYSTEM
CONEY ISLAND — The newest residential property on Surf Avenue, slated for completion early next year, will feature the largest active geothermal system in New York City’s history. The development, at 1515 Surf Avenue, effectively uses the Earth to heat and cool the building and to power its domestic hot water systems — thus eliminating the need for traditional equipment that runs on fossil fuels.
LCOR, a real estate investment, development, and management firm, on Tuesday, May 23, topped out the development, a 463-unit residential property, with 139 units designated affordable, when leasing begins, probably in the first quarter of 2024. LRC Construction is in charge of the building, and LCOR has partnered with Ecosave USA on the geothermal system’s design and installation, estimating that the building’s carbon emissions can be reduced by more than 60% over the norm.