Any value in waterfront homes post-Sandy?

A real estate agent who believes in waterfront value called Sandy a “bump in the road.”

If the city rebuilds the waterfronts, will New York buyers come?

That is a question being mulled over by city brokers and builders after Sandy slid houses from foundations and sent floodwaters rushing into waterfront property around the boroughs.

Many New Yorkers are still unable to sleep in their homes, with a slew destroyed in the storm and hundreds more damaged and slated for bulldozing by the city.

Waterfront recovery will also be the topic at a Municipal Art Society event next week, where Secretary of Housing and Urban Development Shaun Donovan, assigned by President Barack Obama to oversee recovery here, will speak.

One thing real estate experts agree on is that flooding will add to the list of concerns investigated by New York browsers, alongside bedbugs, views and square footage.

Doug Perlson, CEO and founder of RealDirect, said two separate buyers recently looking in the Financial District added a new specification: no apartments in Zone A, which was evacuated. One specifically sent a map of the evacuation zone, he said.

“I think that’s the knee-jerk reaction,” he said.

In the Rockaways, he added, people who rented from his father fled “and have no intention of coming back,” he said.

“He’s seeing a lot of renters say, ‘It’s not worth it.’”

But that is certainly not the case for everyone, especially those with decades in the same area. “I think there’s a tremendous loyalty to the neighborhood,” he said.

But skittishness might not translate into ghost-town waterfronts.

Gary Malin, president of Citi Habitats, said the pull of the water would never be trumped by safety concerns.

“The views are something people crave,” he said.  “It’s in unlimited supply, and very serene, and people love that.”

Harold Kobner, associate broker at Argo Residential real estate, agreed, “This was a bump in the road.”

Buyers that want the water know it carries risks, he said.



Discuss the water

At the Municipal Art Society, their Road to Resilience series focuses on waterfronts next week.  The event, “Sink or Swim: Principles and Priorities for Waterfront Restoration in a Post-Sandy Era,” hones in on how to make long-term investments in infrastructure that also assess the rising sea level.

The keynote speaker will be Secretary of Housing and Urban Development Shaun Donovan, assigned by President Barack Obama to oversee recovery here.

The program is free, but register at mas.org.



News
Entertainment
Sports
Lifestyle
National

Sister of accused Boston Marathon bombers arrested for…

The sister of the accused Boston Marathon bombers was arrested in New York City for threatening a woman over the phone, saying she could "put a bomb on you," police…

Local

Mayor announces public housing improvements

Mayor Bill de Blasio spoke at the Lincoln Houses in East Harlem on Wednesday, calling for the scaffolding to come down at NYCHA complexes across…

National

Peter Theo Curtis: American released by Syrian militants…

An American writer freed this week from two years in the captivity of insurgents in Syria spoke briefly outside his family's Cambridge home Wednesday of…

Local

Bratton defends 'broken windows' work as NYPD support…

Sixty percent of those polled said they support the "broken windows" theory approach popularized by Commissioner Bratton since his first term in the 1990s.

Television

'So You Think You Can Dance' recap: Season…

Season 11’s top four dancers gave their final performances before America’s Favorite Dancers are announced next week.

Going Out

Labor Day in NYC: Make the last weekend…

Soon, it’ll be time for wool accessories and knee-high boots. Even the Pumpkin Spice Latte has already arrived — but we still have one last…

Going Out

Things to do this week in NYC, Aug.…

MUSIC The Electric Zoo Festival Aug. 29-31, 1 p.m. Randall’s Island Park $99-$369, www.electriczoofestival.com The electronic music celebration returns for a fifth year, with 150,000 attendees…

Going Out

5 things to do this weekend in NYC

The Electric Zoo Festival Aug. 29-31, 1 p.m. Randall’s Island Park $99-$369, www.electriczoofestival.com The electronic music celebration returns for a fifth year, with 150,000 attendees expected. David Guetta,…

NFL

Mario Manningham on the bubble as Giants play…

Former Super Bowl hero Mario Manningham hopes his second go-around with Big Blue doesn’t end with Saturday’s final cut day.

NFL

Source: Stephen Hill 'faces a battle' to make…

A team source says Stephen Hill, who has battled injuries and poor performances during his first two years, is no lock to make the Jets’ final roster.

Sports

Serena Williams leaving legacy of talented American women…

It seems only a matter of when, not if, Serena Williams will win her 18th career grand slam championship.

College

When are 2014 college football playoffs? (Schedule, date,…

When and where are 2014 college football playoffs? A look at the schedule, date, TV, time for the semi-finals at championship game.

Food

Recipe: Samuel Adams beer-marinated grilled shrimp

Summer calls for two things: a cold beer and light food. Sam Adams' Latitude 48 IPA fairly bursts with citrus notes, making it an ideal marinade…

Wellbeing

4 healthy ingredient swaps to make your meals…

When it comes to eating well, everyone knows they could be doing better. But cooking in an apartment on a busy schedule is a recipe…

Wellbeing

Heart trumps brain when it comes to movies…

When you need a good cry, do you reach for the movie that’s “based on a true story”? Science says you’re giving your brain far…

Sex

The 10 types of people you meet online

Does it ever seem like online dating profiles tend to get a little repetitive? It turns out you are not the only one to have…