In New York-area, 119K homes, valued at $48B, at risk for storm surge damage

TRD New York /
Oct.October 29, 2012 09:00 AM

Despite homeowners’ efforts to protect their properties from the wrath of Hurricane Sandy — windows boarded, outdoor furniture brought inside, construction projects secured — nearly $87 billion in residential real estate is “at risk for potential storm-surge damage,” according to a new report from the real estate data firm Core Logic.  Some 119,000 homes, valued at about $48 billion, in the New York City–Northern New Jersey–Long Island metro area are exposed.

“The CoreLogic analysis measures damage from storm surge” — primarily flooding — “and does not include potential damage from wind and rain associated with hurricanes,” the report stated.

In New York, more than 81,000 homes, worth an estimated $35 billion, could face storm-surge damage. In New Jersey, 75,000 homes, valued at $22 billion, are exposed.

The Category 1 Hurricane, bearing down on the Mid-Atlantic and the Northeastern United States, puts some 284,000 homes at risk across Virginia, Maryland, Delaware, Pennsylvania, New Jersey, New York and Massachusetts, according to Core Logic. Coastal Connecticut is also expected to be hard-hit, but the report did not include data from that state. —Gabrielle Birkner


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