Potential Sandy Damage Revised Higher to 284,000 Homes

By Douglas A. McIntyre Updated Oct 29, 4:54AM EDT · Published Oct 28, 10:05AM EDT

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As forecasters become more certain about where Hurricane Sandy will reach shore, one research firm has increased its estimates of potential damage to up to 284,000 homes with an aggregate value of $88 billion.

CoreLogic’s latest report:

The data shows nearly 284,000 total residential properties valued at almost $88 billion at risk for potential storm-surge damage among the coastal Mid-Atlantic states, assuming the storm hits the coast as a Category 1 hurricane. Within that region, more than 238,000 total properties valued at nearly $75 billion stand at risk in eight major metro areas from Virginia to New England.

The greatest financial exposure it to residences within the state of New York where value of potential properties which could be potentially damaged is just above $35 billion. Next comes New Jersey at $22 million.

The greatest metro area risk in the New York City-Northern New Jersey-Long Island, NY-NJ-PA MSA with the CoreLogic estimate at over $48 billion.

For more information on CoreLogic storm-surge methodology, data and analysis, download a copy of the more in-depth 2012 CoreLogic Storm Surge report click here.

Douglas A. McIntyre

About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.