Case Study

Multifamily

NJ & NY Multifamily Properties Save $105K+

Multiple, NY

$1.75MM+ in Added Property Value

Solutions Found:

Flood Expert Survey

LOMA

Solutions Value: ≈$105K in Flood Insurance Mandates Removed, Adding $1.75MM+ in Property Value. Impressive!

NFE Solutions: FES (Flood Expert Survey); LOMA (Letter of Map Amendment)

National Flood Experts helped a New Jersey-based commercial real estate developer increase property value and reduce insurance premiums.

This Client owns many multifamily, mixed-use, and hotel properties across the United States, particularly in New York and New Jersey. The Client was burdened by high annual flood insurance premiums and lower property values for their assets in high-hazard flood zones. To solve this issue, they partnered with National Flood Experts (NFE) to determine what cost-saving solutions may be available for their portfolio of properties.

NFE began by reviewing 22 properties in the portfolio. Some qualified for flood zone removal without needing a site visit, while others required the team to perform a Flood Expert Survey (FES) to collect additional property-specific data. NFE removed flood insurance mandates from 15 out of 22 buildings, significantly boosting the portfolio's value and reducing annual flood premiums by more than $100,000.

The FES and LOMA process allowed NFE to provide the Client with valuable documentation proving that these 15 buildings were no longer in an SFHA. As a result, the Client's property value increased by over $1.75 million. In addition, the Client is saving approximately $105,000 annually on flood insurance premiums for the 15 properties that NFE successfully removed from the high-hazard flood zone.

Through the portfolio review, NFE helped the developer save money on flood insurance and significantly increase their overall property value. By partnering with NFE, they could make informed decisions regarding flood insurance with the lender mandates no longer in play.

View Other Case Studies

Image of Multifamily property for Cold Call Results in $116K Property Value Increase for Multifamily Owner

$116K in Added Property Value

Cold Call Results in $116K Property Value Increase for Multifamily Owner - Colorado Springs, CO

Explore how National Flood Experts helped a client increase the value of their multifamily property in Colorado Springs, CO by more than $116,000. Through NFE’s comprehensive engineering review, the building was successfully removed from the high-risk flood zone, eliminating the lender mandate for flood insurance and decreasing annual expenses by nearly $7,000 while also increasing property value.

Image of Commercial property for Vermont Shopping Center’s Annual Premium Reduced by $15K+

Shopping Center Saves $15K

Vermont Shopping Center’s Annual Premium Reduced by $15K+ - Manchester Center, VT

Learn how NFE’s engineering review identified a consulting scenario that helped a real estate investment firm reduce the annual flood insurance premium for a Manchester City, VT, shopping center by more than $15,000.

Image of Multifamily property for Property Reclassified to X-Zone Prior to Acquisition

NOI Boost on Day 1 of Ownership

Property Reclassified to X-Zone Prior to Acquisition - Canton, MI

A 36-building mulitfamily property experienced a significant boost to NOI on Day 1 of ownership due to a rush review and LOMA success by the National Flood Experts team. Thanks to the LOMA, the new owners were not required to place lender-mandated flood insurance and excess flood insurance on the property - talk about major savings and red tape avoided!