A few days after Superstorm Sandy in 2012 Jonathan Resnick was at 199 Water Street, assessing. “It was the Wild West down there,” he recalled. Eight-million gallons of water; disaster recovery experts randomly handing out cards; building owners and tenants trying to make sense of it all. “There was a real feeling of helplessness. There was nothing to do but stand, arms crossed, watching the water flow.”
New federal flood maps, expected to take effect in 2016, will place some 71,500 New York City buildings—532 million square feet of interior space—in the 1 percent annual chance floodplain, the majority of which are in Zone A, where waves above three feet are not expected.
Read complete story on CommercialObserver.com: Downtown Developers Are Keeping an Eye On the Water