Case Study

Multifamily

NJ & NY Commercial Real Estate Developer Saves $105K+

Multiple, NJ

$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 Commercial property for 84 Lumber Saves $175K+ Annually Across 13 Properties

Portfolio Saves BIG in 10 States

84 Lumber Saves $175K+ Annually Across 13 Properties - Rockaway, NJ

NFE reviewed 84 Lumber’s entire portfolio and uncovered $175,000+ across 13 states. Be sure to check out our inaugural episode of In the Zone to hear the full story!

Image of Multifamily property for RI Affordable Housing Community Adds $142K in Property Value

LOMA Success Saves $8.5K/Year

RI Affordable Housing Community Adds $142K in Property Value - North Kingstown, RI

Learn how National Flood Experts helped an affordable housing community in North Kingstown, RI, increase the value of their property by $142,000, remove lender mandates for five buildings, and improve annual NOI by $8,500+. Through NFE’s comprehensive engineering review, flood expert survey, and advanced modeling services, five buildings were successfully removed from the high-risk “A” flood zone.

Image of Multifamily property for Multifamily Property in Salem, NJ, Achieves $7.5K NOI Boost

$125K in Added Property Value

Multifamily Property in Salem, NJ, Achieves $7.5K NOI Boost - Salem, NJ

Discover how a multifamily property in Salem, NJ, achieved a $7.5K NOI boost. With expert guidance from NFE, the property's three buildings were removed from the Special Flood Hazard Area (SFHA), resulting in significant annual premium savings and increased property value.