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Assessing Post-Sandy CRE Impacts

I have no doubt we will recover after Hurricane Sandy however it may take a while to sort out the impact to commercial real estate in the northeast.

By Frank Romeo | Updated on November 13, 2012

I am a shore native and I have been through quite a few hurricanes but as I watched the devastation on the Weather Channel from my hotel in Southern California I couldn’t help but realize that this one was different. All the mistaken weatherman predictions that had made me a skeptic had come true. I watched in real time as the place I called home was transformed into something no longer recognizable, my family and friends at home without power had no idea. The town where I attended my 20th high school reunion 48 hours before the storm hit was splinters and sand; the beach front where I sat with my family a few months prior was now underwater and the homes and buildings that served as a back drop were destroyed. I drove from New Jersey through Connecticut to Boston the week after and could not help but notice the widespread damage; evidence of flooding; broken windows; tarp covered roofs and trees toppled from their roots, one that appeared to take a nest of underground utilities with it.

I have no doubt we will recover after Hurricane Sandy however it may take a while to sort out the impact to commercial real estate in the northeast.

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