NYC Co-op Owners Rally Against a Climate Law They Say Could Bankrupt Their Buildings

Co-op and condo owners rallied at Southbridge Towers in Lower Manhattan to protest New York City's Local Law 97, which penalizes large buildings that don't cut carbon emissions. Organizers say required retrofits could cost one Queens complex alone an estimated $50 million to $70 million.

The rally was organized by a group called Co-ops and Condos United of New York, which says it represents more than a million NYC homeowners, and board leaders from multiple large complexes spoke out publicly. It's a reminder that HOA- and co-op-style governance fights aren't limited to fines and dues — building-wide capital costs imposed by outside regulation can be just as disruptive.