Irene barely affects NYC commercial real estate industry

New York /
Aug.August 29, 2011 04:46 PM

Now that Hurricane Irene has come and gone, commercial real estate firms across the city have been assessing the damage to their portfolio, and according to Crain’s, most have come away relatively unscathed.

For example, the city’s largest commercial landlord, SL Green, said there were only minor leaks across some of its 36 buildings. “We had nothing that even rises to the level of an insurance claim,” said Elizabeth Majkowski, senior vice president of operations at the firm.

At the city’s highest profile construction site, the World Trade Center, there was no damage to any of the 225 trees surrounding the memorial, and limited flooding in the basement of One World Trade Center, where construction has already resumed. Ultimately, New York City took all necessary precautions before the hurricane, which helped limit damage, according to Crain’s. As The Real Deal reported before the storm hit, experts felt the city’s skyskrapers were unlikely to be endangered by the wind and rain, although at least one architect consultant was concerned how flying debris might have affected the glass facade of newly built towers. [Crain’s]


Related Articles

arrow_forward_ios
The Daily News Building at 220 East 42nd Street and SL Green CEO Marc Holliday (Credit: Getty Images)
SL Green puts Daily News building up for sale
SL Green puts Daily News building up for sale
SL Green snags private-equity firm at One Vanderbilt
SL Green snags private-equity firm at One Vanderbilt
SL Green snags private-equity firm at One Vanderbilt
SL Green’s locks in big bank lease at Hudson Yards redevelopment site
SL Green’s locks in big bank lease at
Hudson Yards redevelopment site
SL Green’s locks in big bank lease at
Hudson Yards redevelopment site
106 Spring Street with SL Green's Marc Holliday of SL Green and Paceline Equity Partners' Sam Loughlin (Google Maps, iStock)
One of Soho’s priciest retail spaces sells at UCC foreclosure auction
One of Soho’s priciest retail spaces sells at UCC foreclosure auction
SL Green's Marc Holliday and Brookfield Asset Management's Bruce Flatt with Tower 46. (SL Green, Brookfield)
SL Green to sell its 25% stake in Tower 46 to Brookfield
SL Green to sell its 25% stake in Tower 46 to Brookfield
SL Green CEO Marc Holliday with 11 Madison Avenue and 100 Park Avenue (SL Green, Google Maps/Illustration by Alexis Manrodt for The Real Deal)
SL Green sees improved “market vibe,” office return in “a blink of an eye”
SL Green sees improved “market vibe,” office return in “a blink of an eye”
From left: 11 Madison Avenue, Beam Suntory CEO Albert Baladi and SL Green CEO Marc Holliday (Photos via Beam Suntory; SL Green)
Beam Suntory will move HQ to 11 Madison Ave from Chicago
Beam Suntory will move HQ to 11 Madison Ave from Chicago
From left: Isaac Zion with JMC Holdings' Matthew Cassin (left) and David Taylor (right) (Photos via SL Green; JMC)
Former SL Green exec Isaac Zion joins Acram Group
Former SL Green exec Isaac Zion joins Acram Group
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...