Media Interview: Waterfront property rebounds after Sandy

ROCKAWAYS — Lisa Jackson, owner of Rockaway Properties, moved to Carroll Gardens in late 2012 after Sandy walloped her Queens neighborhood, planning to switch gears and restart her business selling homes in Downtown Brooklyn instead.

 

But two months after relocating, her phone started ringing with inquiries about sales for oceanfront property in the Rockaways.

 

She's now back in Queens — and is busier than ever.

 

"I closed over 30 homes after the storm and have another 20 under contract," Jackson said.

 

Many homeowners in Sandy-affected areas are still struggling to rebuild, and housing advocates are bracing for a wave of foreclosures. But the real estate market in million-dollar neighborhoods such as Neponsit and Belle Harbor in the Rockaways, and the Financial District in Manhattan, are back in demand, according to brokers.

Manhattan after Hurricane Sandy

Manhattan has been relatively safe from Hurricane Sandy.  The crane at One57 (the $90 million penthouse) snapped and a tree fell on a low rise Chelsea building.  Overall, structures in Manhattan are fine  because (i) Manhattan island is well protected geographically (ii) structures in Manhattan are made of brick/concrete/steel.

Many buildings in Lower Manhattan have flooded basements, no power and some had to evacuate residents/employees post hurricane while building management fixes the problems.  This is incomparable to the damage seen in the news in parts of Queens, Long Island, Jersey.  Subway systems are still down but everything should be back to normal in a week.