Case Study

Land

Commercial Development Firm Wins Big in NY

Brooklyn, NY

Image of Land property for Commercial Development Firm Wins Big in NY

$10K Saved & Headaches Avoided

Solution Value: $10K premium savings & endless permitting headaches avoided (Priceless!)

Solution Type: LOMA

An entire undeveloped lot was being pulled into the SFHA, creating permitting nightmare for the owners. NFE's engineering analysis pulled the ENTIRE lot out of the SFHA both NOW and when the pending preliminary map goes into force.

The special flood hazard area (SFHA) impacted the NW corner of a vacant lot in Brooklyn, NY, and preliminary maps also pulled MORE of the lot into the SFHA. NFE's engineering analysis pulled the ENTIRE lot out of the SFHA both NOW and when the pending preliminary map goes into force.

With removal from the high-hazard flood zone, bank-mandated flood insurance is no longer required (a savings of $10,000+), plus the construction budget and building capabilities are also improved. The solution also helped facilitate a more straightforward building permit process - a tremendous win, especially in NY.

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≈$178K in Property Value Added

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$1MM+ in Added Property Value

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Discover how a multifamily property owner in Terre Haute, IN, maximized refinancing and eliminated the need for excess flood insurance coverage. NFE’s engineering review helped the owners overcome restrictions, increase property value by a staggering $1MM+, and increase NOI by $65,250 annually - all in just under two weeks!

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National Hotel Portfolio Saves $53K in Premiums - Miami & Marathon, FL

NFE's expertise helped a portfolio of hotels save more than $53K in flood insurance premiums and removed the lender mandates for 15 properties. Qualifying the buildings for Letters of Map Amendments also resulted in ≈ $670K increase in property value (assuming an 8% CAP rate).