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

Excess Flood Insurance Requireme

Excess Flood Insurance Requirement Eliminated for DE Multifamily Property - Dover, DE

Explore how a Dover, DE, multifamily property eliminated excess flood insurance requirements, added property value, and reduced annual flood insurance expenses thanks to NFE's comprehensive engineering review and Flood Expert Survey (FES). NFE's analysis, supported by on-site data collected during the FES, qualified 3 of 4 buildings for removal from the high-risk flood zone, eliminating the lender mandate for flood insurance for those three buildings and eliminating the excess flood insurance requirement.

Image of Multifamily property for Oregon Multifamily Community Increases NOI by $66k Annually

$1.1 MM in Added Property Value

Oregon Multifamily Community Increases NOI by $66k Annually - Eugene, OR

Discover how a Eugene, OR, multifamily property owner increased NOI by more than $66,000 by working with National Flood Experts (NFE)

Image of Multifamily property for Refinance Requirement for Flood Insurance Avoided

Slashing Refinance Red Tape

Refinance Requirement for Flood Insurance Avoided - Boise, ID

Discover how a multifamily property owner in Dover, DE, eliminated the need for flood insurance coverage while maximizing their refinance. NFE’s engineering review helped the owners overcome restrictions while also increasing property value.