While superstorm Sandy damaged many of our properties, the damage was relatively quite minor. Most of our apartments never lost power, and 95% had power restored within 3 days. 100% of our apartments had power within 14 days. Only 2 tenants out of thousands were actually forced to leave their apartments. Less than 3% of our tenants decided to leave on their own, mostly to be with family, and virtually all of them have returned. Even our waterfront properties, like Harbortown, in Perth Amboy, were fortunate, as they were buffered by Sandy Hook and Staten Island.

 We were lucky, others weren’t. Therefore, we’ve reached out to the affected communities, offering the option of shorter term leases, and waiving application fees, for storm victims.  We still have many apartments available for immediate occupancy. We’ll also be making substantial charitable contributions to the relief organizations involved.