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


Sierra Leone Ebola patient, recovered from family, dies…

An Ebola patient whose family sparked a nationwide hunt when they forcefully removed her from a treatment center and took her to a traditional healer has died.


VIDEO: Cop reassigned as NYPD investigates alleged head…

An officer alleged to have stomped on a Brooklyn man's head last week had his gun taken away and placed on modified duty.


New York Times calls for legalization of pot

The New York Times editorial board on Saturday endorsed a repeal of the federal ban on marijuana, becoming the largest paper in the nation to back the idea.


Two injured after cable snaps on Ohio amusement…

(Reuters) - A cable on a large swing ride at an Ohio amusement park snapped and struck two riders as the swing was in motion,…


Newport Folk Festival: Photo gallery of 35 moments…

As has been the tradition since Bob Dylan plugged in a bajillion years ago, the Newport Folk Festival embraces more musical genres than its name implies.


MKTO: Behind the bromance

MKTO's Malcolm Kelley and Tony Oller talk about the American Dream tour, Demi Lovato and getting turned down by girls.


James Earl Jones and Rose Byrne head to…

Two-time Tony winner James Earl Jones returns to the New York stage next month as an eccentric grandfather in a revival of the 1930s comedy…


Box office: Scarlett Johansson wins battle of brains…

Scarlett Johansson's "Lucy" handily dispatched with Dwayne Johnson's "Hercules" over the weekend.


Yankees looking to trade for Josh Willingham: Report

CBS Sports’ Jon Heyman reported Sunday the Yankees are interested in Twins outfielder Josh Willingham.


Joe Torre: I'm in Hall of Fame because…

Joe Torre spent 18 years putting together a near Hall of Fame career as a player. But it was the 12 years he spent as…


Yankees GM Brian Cashman breaks down art of…

The action frequently accelerates as the non-waiver trade deadline approaches, as it will on Thursday.

Auto racing

Jeff Gordon captures fifth title at Brickyard 400

Jeff Gordon captures fifth title at Brickyard 400


This Week In Health: Friends share similar DNA,…

Friends share similar DNA, study finds Location: U.S. Study subjects: Nearly 2,000 people Results: When it comes to our social networks, it seems that birds of…


Are liberal arts colleges turning away from the…

Bryn Mawr College, a small women's college located just outside of Philadelphia, announced last week that it would be making standardized tests like the SAT…


Recent grads discover school superintendent plagiarized parts of…

  Two recent high school graduates made a surprising discovery about the commencement speech their school superintendent delivered at their graduation: portions of it was copied…


Feeling stuck? Get out of the entry-level job…

Television and movies may be littered with 20-something characters who seem directionless when it comes to their careers, but author Mary Traina says she finds…