News: Owners Developers & Managers

Alloy partners with Radial Power and MaxSolar to bring offsite solar energy to 505 State St. residences

Brooklyn, NY Alloy Development (Alloy) has selected Radial Power and MaxSolar to provide 100% renewable energy at New York City’s first all-electric residential tower, 505 State St., through two separate community solar agreements – helping it to reach its goal of being NYC’s first all-electric, carbon-free skyscraper. In partnership with Radial Power, 505 State St. will receive an allocation of 900 kilowatts from a recently constructed rooftop solar array at the Gateway Mall in East New York. At the same time, MaxSolar will provide up to 2.4 megawatts of new solar capacity from its Old Mill project on a former cattle farm in Yorktown, NY. Alloy is the first developer to pursue such a program following a Local Law 97 rule issuance by the New York City Department of Buildings in 2022, which confirmed that developers can comply with the law through community solar programs. The 25-year agreements are within ConEd territory, which assists in New York City’s overarching goal to completely green the city’s grid.

Serving as a model for green living, 505 State St. replaces all functions typically run by natural gas with electricity. All kitchens, for example, are equipped with induction cooktops, and each unit has a heat-pump dryer. Base-building systems, like hot water heating and HVAC, are also entirely electric, eliminating carbon emissions from homes and across the building. Eliminating gas usage and building more efficient apartments improves air quality for residents, reduces their monthly utility bills, and helps reduce the effects of climate change. The selection of Radial Power and MaxSolar follows Alloy’s 2022 issuance of an RFP to identify off-site renewable energy suppliers. Local green energy non-profit Solar One advised Alloy on the RFP through its Here Comes Solar program.  

The solar announcement comes soon after residents began moving into 505 State St., a 44-story tower located at the intersection of State St. and Flatbush Ave. that is now 90% leased. 505 State is the first phase of the Alloy Block, a mixed-use development designed by Alloy comprising five old and new buildings that will provide residential, office, cultural, and retail space. Once complete, the Alloy Block will be home to over 1000 residences and include approximately 200 permanently affordable apartments for residents, as well as 60,000 s/f of class A office space and 50,000 s/f of retail space. The Alloy Block includes the city’s first two public schools designed to Passive House standards, each designed by Architecture Research Office: a new Khalil Gibran International Academy – a public high school founded in 2007 with a particular focus on both English and Arabic languages and culture – and a public elementary school, PS 146. Both new schools opened in September for the 2024-2025 school year.

505 State St. is leading the way for energy-efficient transit-oriented development, with more than 200 bike parking spaces and no parking for cars. Located adjacent to Atlantic Terminal, the city’s second-largest transit hub, the Alloy Block is next to the Brooklyn Cultural District and Barclays Center and bounded by Flatbush Ave., Schermerhorn St., Third Ave., and State St. It was approved through the City’s Uniform Land Use Review Procedure in September 2018.

“We are always focused on finding creative solutions to power the city’s green energy transition that complement local environmental policy,” said Alloy vice president David McCarty. “We developed the city’s first all-electric skyscraper and passive house public schools, and a commitment to harnessing offsite solar energy is another important step the industry can take to build more sustainability. We’re proud to work with MaxSolar and Radial Power to make 505 State Street the city’s first building to be fully powered by offsite solar energy, and we hope it sets the standard for many more projects across the five boroughs.”

READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
Strategies for turning around COVID-distressed properties - by Carmelo Milio

Strategies for turning around COVID-distressed properties - by Carmelo Milio

Due to the ongoing pandemic, many landlords are faced with an increasing number of distressed properties. The dramatic increase in unemployment and reduction in income for so many has led to a mass exodus out of Manhattan, an increase in the number of empty rental units
The CRE content gap: Why owners and brokers need better digital narratives in 2026 - by Kimberly Zar Bloorian

The CRE content gap: Why owners and brokers need better digital narratives in 2026 - by Kimberly Zar Bloorian

As we head into 2026, one thing is clear: deals aren’t won by who has the best asset; they’re won by who presents it best. Yet many owners, operators, and brokers are entering the new year with outdated photos, inconsistent branding, and limited digital presence. This