Post-Tropical Storm Sandy

City Stretches Zoning Code to Address Growing Concern Over Climate Change

Sandy barrels toward the northeast (Credit: NASA)

The city announced today that it is implementing new measures that will stretch current zoning codes in order to help property owners update buildings to meet new flood standards in the wake of Hurricane Sandy — and in the face of climate change.

The measures will allow home and building owners to rebuild destroyed properties and meet new safety standards. They are also intended to limit the cost of future federal flood insurance premiums by better protecting properties in flood-prone areas.

“We are beginning the process of updating our building code and zoning regulations so that new construction meets standards that reflect the best available data about flood and climate risks,” said Mayor Michael Bloomberg in a statement.  “This is particularly important for homes and businesses damaged or destroyed by Hurricane Sandy – and the rules we are putting in place today will enable them to rebuild and re-open safely.” Read More

Year in Real Estate

Fast & Furious: The minute-by-minute, behind-the-scenes negotiations that led to this year’s F.E.M.A transaction

New York And New Jersey Continue To Deal With Aftermath Of Hurricane Sandy

The whirlwind negotiations between the Federal Emergency Management Agency and Muss Development to create an impromptu relief outpost in Queens in the days following Hurricane Sandy’s descent on New York would not have happened had it not been for one of the real estate industry’s leading dynasties.

In a deal that would later come to symbolize the overall dedication of the city’s real estate titans, government officials and executives banged out terms for 200,000 square feet of temporary space at the Forest Hills Tower in a mere five days, a minor miracle in the world of office leasing. Read More

Post-Tropical Storm Sandy

FEMA and Muss Development Ink Deal for Hurricane Relief Headquarters in Two Days

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The Federal Emergency Management Agency has pulled together a Queens home base for its Hurricane Sandy relief efforts in a matter of days.

FEMA, as the agency is better known, is taking 200,000 square feet across 10 of 17 floors in the Forest Hills Tower, located at 118-35 Queens Boulevard in Forest Hills, Queens.

Negotiations began last week with owner Muss Development, and by Sunday the relief agency had begun its move into the building. Read More