After Sandy, buildings flood city’s most vulnerable neighborhoods

12K new apartments are in most serious flood zones

TRD New York /
Jul.July 06, 2018 10:01 AM

New York City flood zones illustration (Credit: Google Maps and Pixabay)

Despite the lessons of Hurricane Sandy, developers continue to build in the city’s most flood-prone areas.

About 12,350 of new apartments under construction or planned as of January are located within the city’s most serious flood zones, according to Localize.city. A majority of these projects — 45 — are located in southern Brooklyn in Coney Island, Brighton Beach and Gravesend, the New York Times reported. Hunters Point in Queens, which is located in a high-risk zone, increased its population 90 percent from 2010 to 2016, jumping from 3,979 households to 7,553.

The worst flood zone is known as the 100-year flood plain, which means it has a 1 percent chance of flooding any given year. In the life of a 30-year mortgage, that translates to a 26 percent chance of at least one flood.

While individual buildings have incorporated flood protection measures — like moving mechanical equipment to a higher floor — it’s not clear whether the surrounding neighborhoods will be able to weather such storms.

“I think we have short-term memory,” said Patrick W. Smith, an agent with Stribling & Associates, who lives and works in Long Island City. “Home buyers still ask about the flood zone, but it hasn’t stopped anyone from buying.”

Older homes in flood-risk zones could face a significant spike in insurance rates once the new FEMA map is approved. Rates for some homeowners could jump from $400 to $4,000, said Zachary Paganini, a student at the Graduate Center of the City University of New York.

The Real Deal previously dove into the dangers of building in neighborhoods most vulnerable to rising sea levels and Sandy-caliber storms. [NYT] — Kathryn Brenzel


Related Articles

arrow_forward_ios
Keeping lawns freshly cut and outdoor spaces in tip-top shape could result in greater rewards for sellers. (Credit: iStock, IMDB)

Curb your enthusiasm: Homes with spruced-up outsides sell at premium

Elsa Segura (left) was arrested in connection to realtor Monique Baugh's (right) murder (Credit: iStock)

Second suspect charged in real estate agent’s abduction, murder

Mayor Bill de Blasio and subway damage caused by Hurricane Sandy (Credit: Getty Images)

Program to rebuild Sandy-damaged homes needs extra $92M

Clockwise from top left: John Gomes, Ronita Kalra, Eric Beniam and McKenzie Ryan (Credit: Getty Images, iStock, Wikipedia)

“We’re putting ourselves in situations where anything is possible”: Real estate agent’s killing rattles industry

As the years go by_A look back at 17 years of real estate history

A look back at 17 years of real estate history

157 West 57th Street (Credit: iStock)

One57 condo with reduced ask tops a slow week of luxury contracts

Clockwise from top left: 730 Fifth Avenue, Unit #PH21; 730 Fifth Avenue, Unit #18A; The Pierre, Unit #3101; and The Park Imperial, Unit #64

Priciest homes listed last week include $60M pad at Crown Building

Army Corps of Engineers Commander Lt. Gen. Todd Semonite and flooding caused by Hurricane Sandy in 2012 (inset) (Credit: Getty Images)

A $119B seawall still might not protect Manhattan, critics say

arrow_forward_ios
Loading...