One Manhattan landlord whose properties were flooded during Hurricane Sandy has a dual identity: Scott Rechler is owner of the Starrett-Lehigh Building (and many other commercial properties in Manhattan) and an appointee to the Port Authority board. Rechler is now eyeing lower Manhattan as a place to invest post-Sandy, on the theory that he can buy buildings in the flood zone, repair and upgrade them, and make an eventual profit. [Bloomberg]
Filed under:
Loading comments...