The Real Deal New York

A storm’s silver lining?

December 13, 2012 04:00PM

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Mayor Bloomberg surveying Sandy destruction in the wake of the storm

From the December issue: The New York City area is very much still in recovery mode from Superstorm Sandy, which devastated the city and its suburbs in late October. Debris is still being cleaned. Public transportation is not yet fully restored. And as of press time, many were still homeless. Plus a pall of mourning is present for the nearly 100 people who died from the disaster, many by drowning in their basements. Yet the deadly storm has a scrap of a silver lining for the real estate industry. That’s because rebuilding after the hurricane — not to mention preparing for future mega-storms — will require an effort of Marshall Plan proportions. [more]