Monday, August 29, 2011

Construction Firms Get Back to Business

The storm brought interruptions and anxiety, but little or no damage across the city; like many other New Yorkers, the Port Authority of New York & New Jersey reports a bit of water in the basement.

New York City's real estate industry sailed through Hurricane Irene with only very minor damage, and contractors were able to resume work bright and early Monday morning at construction sites around town, according to industry and city officials.

“We did very well,” said Lance Jay Brown, co-chairman of the New York chapter of American Institute of Architects. “Winds were not high enough to cause damage and the flooding was confined to a few areas.”

SL Green Realty, the city's largest landlord, reported only some minor problems with leaks at a few of its 36 buildings. “We had nothing that even rises to the level of an insurance claim.”

Elizabeth Majkowski, senior vice president of operations, said it helped that the company had a few days notice to make preparations, such as securing any equipment and removing any loose materials from spots where construction was going on. The company also had staff in the 31 buildings it manages in the portfolio all weekend to address the minor problems if and as they arose.

Meanwhile, there was minimal damage to the World Trade Center site and none of the 225 trees around the 9/11 Memorial were hurt, according to the Port Authority of New York & New Jersey. The agency reported there was limited flooding in the basement of One World Trade Center and the water has since been pumped out. Work has resumed on the site.

Last week, New York City's Department of Buildings ordered that all construction work stop on Saturday afternoon by 2 p.m. because of the impending storm.

Crain's New York Business
August 29, 2011