Hurricane Sandy proved to us how completely unprepared we were to deal with a superstorm of such magnitude that caused an estimated $32B in damages to New York.
There are projections that more super storms are in our future.
Some property owner/developers are taking measures to lessen the potential impact of another storm in a variety of ways such as barrier systems, emergency generator pumps and independent communication systems.
Some new developments are being built on stilts such as Rudin Management and Boston Properties Brooklyn Navy Yard project Dock 72.
Talk about being visionary, smart and very lucky, look at The Ikea building in Red Hook which was built up high years before Sandy devastated the neighborhood.
The 55 Water Street project in Manhattan has it’s lobby controls including Fire Command and elevator security on the 3rd floor in case the 1st floor floods. The building also has a 2 foot thick concrete encasement with a submarine door in the basement for the generator fuel oil controls.
BASF has proposed a coastal park in Red Hook which would consist of a hybrid system of berms and gates and a secondary system of breakwaters dikes and ponds for water runoff. The park would have bikeways and public space to protect and enhance the lifestyle of the neighborhood residents.
Another project called The Big U was put forth by Architect Bjarke Ingels. There would be a buffer zone built with green sloping hills, embankments and gardens that would surround all of lower Manhattan.
The project has gotten the thumbs up, receiving $350M in Federal Funds.
It is clear that the Real Estate Industry is preparing for the worst if and when it comes again.
If you are planning to sell your Brooklyn property, whether a residential property, a commercial building, mixed use, multi family, vacant land, coop or condominium or a development opportunity, call us. You will be very happy that you did.
Thank you.
Accord Real Estate Group team
