Case Study

Multifamily

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

Multiple, NJ

Image of Multifamily property for NJ & NY Commercial Real Estate Developer Saves $105K+

$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.

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$1.75MM+ in Added Property Value

NJ & NY Multifamily Properties Save $105K+ - Multiple, NY

In this case study, a New Jersey-based Commercial Real Estate Developer partnered with National Flood Experts (NFE) to reduce annual flood premiums and increase the property value of their multifamily properties in NJ & NY. NFE successfully removed flood insurance mandates from 15 buildings, resulting in approximately $105,000 in annual cost savings and over $17.5 million in increased property value.

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≈$814K in Property Value Added

OH A-Zone Property Saves $48K In Annual Premiums - Lebanon, OH

Learn how National Flood Experts helped a top Affordable Housing Owners increase the value of their multifamily property in Lebanon, OH, by more than $814,000. Through NFE’s comprehensive engineering review, four buildings were successfully removed from the high-risk “A” flood zone, eliminating the lender mandate for flood insurance and decreasing annual expenses by $48,000+ while also increasing property value.