Buying in Storm Zone 1 - Alphabet City

Rollingstone article is old news. FIDI apts hit by Sandy have more than rebounded as Sandy is one of those rare events. Sea level rising by a foot would not have any impact on Sandy like events where the surge I believe was 10-15 feet. That is probably why you can not get a discount in alphabet city.

Read the Rolling Stone report - it clearly states that the East Side Resilience project is not expected to be sufficient. Alphabet City does trade at a discount.

Shouldn't this also affect property values in FiDi, Dumbo and near the waterfront in Williamsburg? Even if storm surges are a rare event, it is rational to be concerned in general about buying on the water giving definite rising of sea levels.

I agree that this should be a big negative about buying in alphabet city, though depending on how far west you are (Ave A rather than Ave C) it may be mitigated. I don't count rebounded property values to be reassuring given the irrational exuberance of the market within the past 2 years.

Alphabet City "trades at a discount" for a whole host of reasons, including the neighborhood, that it is miles from the subway (and in some cases from a decent grocery store), and below par housing stock.

>>>FIDI apts hit by Sandy have more than rebounded as Sandy is one of those rare events.<<<

I think storms like Sandy will become far less "rare" in the coming years. I for one would never buy in a designated flood zone.

As 300_mercer is pointing out, this whole climate change stuff is a hoax by people like Eric Schneiderman to distract from his eyeliner.

Battery Park City had much worse flooding than the eastern section of the East Village, but I would not want to live in any storm evacuation zone. But Ave B may be safe. I think there may have been some basement flooding on B in the area around 11th to 14 Sts but by the time I walked up there (after Sandy) the water had receded. I saw about 3 inches of water on Ave C , though. I live on the LES just below B and my bldg is 20 ft above sea level so I feel safe for the foreseeable future (I am 56 and don't think I'll live to see the flooding that will eventually happen here). Personally I wouldn't buy east of Ave B because the prospect of having to evacuate terrifies me. I have 3 pets, no car and nowhere to go. In the hours before an evacuation there will be no rental cars available.