The Real Deal New York

Posts Tagged ‘Hurricane Sandy’

  • A storm over the Manhattan skyline

    A storm over the Manhattan skyline

    New York City, with a population fast approaching 9 million and vast cultural, historical, and financial resources, is fast approaching the danger zone for climate change. Some would say it has already arrived. [more]

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  • The renaissance in Red Hook

    November 12, 2014 12:09PM
    Rendering of Est4te Four's project in Red Hook, Brooklyn

    Rendering of Est4te Four’s project in Red Hook, Brooklyn

    Being cool in New York is increasingly becoming more difficult. Williamsburg and Bushwick — once the ultimate strongholds of true hipsterdom — have opened to young professionals who are settling down with their children and pets. And while Red Hook is still a place of lofts and artists, new developments are sprouting up. For more about what’s going on in the area, click here.

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  • string

    From left: 2010 FEMA map, 2014 proposed new map and Scott Stringer

    UPDATED, 9:45 p.m., October 30: The New York City flood zones contain 84,000 properties valued at a total of $129 billion, according to a report by Comptroller Scott Stringer’s office. [more]

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  • From left: Governor Andrew Cuomo and LIPA crews

    From left: Governor Andrew Cuomo and LIPA crews

    Gov. Andrew Cuomo interfered with a commission tasked with looking into the post-Superstorm Sandy operations of  the Long Island Power Authority much in the same way as he did with a commission tasked to look into public corruption, according to a new investigative report from the New York Times.  [more]

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  • Hurricane Sandy: a retrospective

    October 29, 2014 09:28AM
    A look back at TRD's Hurricane Sandy coverage

    A look back at TRD’s Hurricane Sandy coverage

    Today marks the second anniversary of Superstorm Sandy, which devastated New York – 61 people lost their lives and more than 300,000 homes across the state were damaged. New York City’s real estate industry also suffered major losses – private landlords sustained more than $8.5 billion in property damage, and the city’s government sustained property damages of about $4.5 billion, according to an estimate from Mayor Michael Bloomberg’s office.

    At the time, The Real Deal took a close-up look at how the storm impacted the real estate industry — from the landlords who were hit hardest to the brokers who’ve found displaced residents new homes to the developers who are most likely to cash in on the rebuilding efforts. Take a look at some of our key coverage here. [more]

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  • From left: Sandy damage in Mantaloking, NJ and Rockaway, NY

    From left: Sandy damage in Mantaloking, NJ and Rockaway, NY

    New Yorkers who are looking to stormproof their homes could be facing high costs to do so in the near future. [more]

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  • Sandy damage in the Rockaways

    Sandy damage in the Rockaways

    The city’s Build It Back Program will give priority to residents from areas that were highly damaged by Superstorm Sandy on rebuilding jobs. [more]

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  • From left: James Oddo and Sandy damage in Staten Island

    From left: James Oddo and Sandy damage in Staten Island

    A portion of South Beach in Staten Island could be transformed by a plan to rebuild homes damaged during Superstorm Sandy on a common elevated platform.

    The South Beach Civic Association has proposed replacing vulnerable bungalows and two-story houses in Sunnymeade Village with about 50 elevated homes, the Wall Street Journal reported. The plan has the backing of borough president James Oddo, who has advocated for elevated housing in other low-lying areas including Midland Beach and Ocean Breeze, according to the newspaper. [more]

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  • A home being razed on Fox Beach on Staten Island

    A home being razed on Fox Beach on Staten Island

    Following Hurricane Sandy, the community of Fox Beach on Staten Island was deemed too dangerous and too expensive because of the rising cost of flood insurance. Now that neighborhood is being raised, and locals bought out. But some are still fighting to save their homes.

    “I don’t know if they are offering me enough money, where I could buy something else for us. The guy down there moved into a studio. I don’t want to do that once I’ve owned a house,” Franca Costa told NPR. Costa is now one of only a handful of holdouts left. [more]

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  • Mayor Bill de Blasio at press conference on Superstorm Sandy recovery

    Mayor Bill de Blasio at a press conference on Superstorm Sandy recovery

    New York City officials believe they can quadruple the pace of repairing and renovating homes damaged by Superstorm Sandy by hiring additional contractors.

    The city intends to hire dozens of contractors who would be paid with federal funds to rebuild storm-ravaged properties through the Build It Back program, the Wall Street Journal reported. The city will seek proposals for services that include elevating houses above water levels to prevent damage from storm surge, according to the newspaper. [more]

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  • sandy

    Damaged homes in the Far Rockaways section of Queens

    The Federal Emergency Management Agency is calling for the repayment of more than $5.8 million in Hurricane Sandy aid.

    The agency is investigating about 4,500 households for allegedly receiving improper funds after the 2012 storm. Of the households, 850 have been asked to return $5.8 million. The remaining households are still under review. [more]

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  • Former mayor Michael Bloomberg

    Former Mayor Michael Bloomberg

    Poor program design and execution by the Bloomberg administration resulted in long waits for New Yorkers seeking funds to rebuild homes in the aftermath of Superstorm Sandy, an investigation by the New York Times found.

    The newspaper found that in trying to prevent the corruption that plagued New Orleans’s recovery from Hurricane Katrina, Bloomberg’s office created a complicated program that yielded gridlock. The investigation also points blame at the administration of Bill de Blasio for failing to promptly make changes to the program, dubbed Build It Back. [more]

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  • New Jersey Gov. Chris Christie and the state's coast following Superstorm Sandy

    New Jersey Governor Chris Christie and the state’s coast after Sandy

    UPDATED, 3:56 p.m., September 4: The Garden State managed to steer clear of major errors in its handling of post-Superstorm Sandy ads promoting the shore and featuring Governor Chris Christie, the federal government found. But the state didn’t make the grade with its procurement of a marketing contract worth up to $25 million, an audit by the Department of Housing and Urban Development’s inspector general found. [more]

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  • New York City Housing Recovery Build It Back program

    The latest numbers from the New York City Housing Recovery’s Build it Back program

    After getting off to a slow start, a program to help New York City homeowners make repairs to houses damaged by Superstorm Sandy is gaining momentum. [more]

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  • storm

    (Credit: ArchDaily)

    Mayor Bill de Blasio’s administration plans to use federal Hurricane Sandy grants to complete a 13-year initiative to map every building along the city waterfront.

    The final leg of the project will cover private, federal and state-owned buildings. The city Economic Development Corporation, which has handled mapping for many city-owned buildings thus far, issued a request for proposals today to find a private firm to wrap up the project. The firm would also have to update all the mapping data collected since 2001. [more]

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  • Hurricane Sandy damage on Staten Island

    Hurricane Sandy damage on Staten Island

    WEEKENDEDITION It’s been nearly two years since Hurricane Sandy devastated parts of New York. And now, thanks to Habitat for Humanity, some Staten Island and Brooklyn victims are finally able to repair their homes. [more]

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  • NYU Langone Medical Center at 550 First Avenue

    NYU Langone Medical Center at 550 First Avenue

    The Federal Emergency Management Agency approved $1.13 billion in funds for repairs and mitigation projects for NYU Langone Medical Center.

    The federal aid will account for 90 percent of the project’s total costs, Crain’s reported. A planned budget allocates $540 million to repair NYU’s Smilow Research Center, Schwartz Care Center, the Medical Science Building, Skirball Institute, Tisch Hospital, Alumni Hall, Rusk Institute, Perelman Building, Schwartz Hall and Coles Student Laboratories. [more]

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  • New York City flood zones

    New York City flood zones

    New building requirements that protect against flooding have put landlords of public and regulated multifamily buildings in a catch-22 situation, according to a new report from the NYU Furman Center.

    New flood insurance rates imposed in the wake of Superstorm Sandy leave landlords with a tough choice: pay higher insurance premiums or embark on costly retrofits that would lower those premiums, the New York Observer reported. The dilemma affects 1,500 buildings with 90,000 units of public, subsidized or rent-stabilized housing. The report concludes that the only viable choice for many landlords is to make them market rate. [more]

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  • sandy-stringer

    Hurricane Sandy damage in New York, and Scott Stringer

    The city Department of Homeless Services paid $19.9 million in emergency contracts during Hurricane Sandy for services that were never provided, according to a report from Comptroller Scott Stringer’s office cited by the Wall Street Journal.

    The contracts were intended to give victims a temporary shelter. Instead, the agency “made the city vulnerable to waste, fraud and abuse,” Stringer wrote in the report. [more]

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  • Hurricane Sandy damage in New York (left) and New Jersey (right)

    Hurricane Sandy damage in New York (left) and New Jersey (right)

    New York City is back on track with post-Hurricane Sandy rebuilding, according to Mayor Bill de Blasio. Nearby New Jersey, however, is under fire for spending nearly $100 million in federal funds on contractors, including one that was later fired for poor performance, according to a report released Wednesday. [more]

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