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Habitat Magazine Insider Guide




The Habitat Management Survey: Financing a Switch from No. 6 Oil

Mitchell Barry. The latest in a series of exclusive Habitat Management Survey responses. in Building Operations on August 25, 2014

New York City

Mitchell Barry, Century Management
Aug. 25, 2014

For starters, 120 feet of chimney breaching needed to be redirected to bring the chimney up to current code. Further review revealed that the oversized and outdated boiler was running well below acceptable efficiency. The project called for installing four modular boilers and two water heaters along with a massive re-piping effort.

The study and the numbers made financial sense, however, despite the cost. The board fully believed in the project and developed a financing plan that would not require assessing shareholders. The project, which will pay for itself within the next six to seven years, was completed in the fall and has already produced an efficiency boost. With Con Ed recently supplying gas, the building will now enjoy fuel savings as well. — Mitchell Barry, President, Century Management


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