Posted in Blog  
  on Jan 05, 2014

Hurricane Sandys Damage to New Jersey and New York

Hurricane Sandys Damage to New Jersey and New York

A Year After Hurricane Sandy: What Have Happened to Its Survivors?

With an estimated total damage amounting to $50 billion, Hurricane Sandy is the second costliest hurricane that struck the United States since 1900. The damage that the hurricane caused in New York City is estimated to reach $19 billion. This estimate includes all public, private, and indirect costs within the city alone. In New Jersey, the total business losses were estimated to be $8.3 billion. Almost 19,000 small businesses in the state have sustained damage. Not to mention the 305,000 housing units in New York and 346,000 housing units in New Jersey that have been damaged or destroyed during the massive destruction of the hurricane.

The Recovery

After the hurricane was over, there were more than 2,100 FEMA housing inspectors who have been dispatched. Today, there were more than 160,000 completed home inspections. That’s about 76 home units per FEMA inspector. FEMA housing inspectors account 49.9% of repairs that are attributed to safety. Safety related projects were prevalent in the following months after Sandy devastated New Jersey and New York metro areas, said officials.

Cash donations have helped New Jersey stand from the ground after the state was devastated by Hurricane Sandy. Over $5.6 billion has been paid out to storm victims in the state; 3.5 billion came from the National Flood Insurance program. FEMA grants to individuals and households accounted to $415 million.

In New York City, FEMA has $1 billion financial support to families whose properties were destroyed or damaged by the natural disaster. The $855 million was used to aid survivors with temporary rental costs and home repairs. The remaining $145 million was used to fund other uninsured related hurricane expenses like moving costs, funeral costs, transportation costs, personal property, and medical/dental costs.

Hurricane Sandy’s Pain Insurance Claims

Hurricane Sandy’s pain insurance claims in New York amounted to $2.1 billion. This includes 501,447 insurance claims made by the hurricane’s victims. In New Jersey, total amount of paid insurance claims amounted to $1.56 billion including the 328,946 claims made by the victims.

Moving Forward

If not for Hurricane Sandy, flood maps in the U.S. will not be updated. For the first time since 1983, flood maps in the country have been updated. In 1983, the number of residents in New York City who are at risks of living in flood prone areas was 218,000. When flood maps were updated, the residents in NYC who are living in flood prone areas are 398,000.

Because of the mass destruction that struck New York City and New Jersey, Hurricane Sandy Task Force launched the “Rebuild by Design” completion. The campaign aims to develop actionable projects that will improve the lives of the persons living in the affected areas that have been affected by the hurricane. In addition, buildings in New York with over 300,000 sq. ft. and those with more than 7 stories are required to undertake flood protection and preventive measures by 2030. This action is necessary in order to prevent the recurrence of damages brought by super Hurricane Sandy.


5 Landlord Forms that Every Landlord Should Have

When it comes to being a landlord, one should know that it is not for the unprepared individual. This should be clear that being a landlord does not simply mean that you will be taking the rent and... More

Landlord Obligations: The Responsibilities of a Landlord

Becoming a landlord is a major deal and no one can simply get up and think, “well, yes I think I should be a landlord and rent out my flat.” If you are thinking that you would like to be a landlord,... More

The Best Landlord Forums

Landlords and aspiring landlords, do not become as such, without guidance and advice. There is a lot that goes into being a landlord nowadays; in fact, there is so much to learn that it often confuses... More

The Biggest Landlord Problems and How to Fix Them

Renting out an apartment or a house can become a constant revenue source for landlords, but at the same time, it gives rise to several problems. It is a fact that high standards, a strict lease... More

Landlord Tenant Disputes

If you are currently thinking of becoming a landlord only because it helps you have a constant stream of income, you should think twice. It’s not that you should not consider offering your property... More

List of Landlord and Rental Property Tax Deductions

When it comes to paying taxes, most individuals have no idea that they may be paying so much without needing to do so. The same goes for landlords. Why should you or any other landlord be paying more... More

Landlord Advertising Guide: Marketing Your Properties

When you own a rental business and start it from scratch, you know how important it is for your business to reach the people it matters to most. How else would your business flourish and blossom? It... More

How to Handle Tenants from Hell

For a landlord, it is of immense importance to ensure that they only let a qualified tenant to move in. It is however every landlord’s nightmare when they get tenants from hell who make the tenancy... More

Explanation of Tenant at Sufferance

There are many terms and concepts used in the realms of landlording, and when it comes to learning everything in the property business, most aspiring property owners find them in trouble. Most... More

Handling a Tenant Breaking the Lease Agreement

Not all tenants are alike; some of them are good, others are from hell. That’s why one should know the right way to deal with bad tenants. They can be troublesome in the sense that they can damage... More