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Fire Islands Sandy Comeback

Fire Islands Sandy Comeback
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http://www.wsj.com/articles/fire-islands-sandy-comeback-1425490179ET Fashion designer Sully Bonnelly owns a modernist beach house on Fire Island with a double-height, glass-walled living room and space for sculptures collected from his travels around the world. When superstorm Sandy struck the 32-mile-long barrier island on the south shore of Long Island in October 2012, his house on high ground was spared. Even now, three years later, the real-estate market in Fire Island rests on a fulcrum of risk and reward.

When superstorm Sandy struck the 32-mile-long barrier island on the south shore of Long Island in October 2012, his house on high ground was spared. But hundreds of others were flooded and some of the nearby dunes and beach washed away.

Even now, three years later, the real-estate market in Fire Island rests on a fulcrum of risk and reward. “It is not for the fainthearted,” said Suzy Goldhirsch, president of the Fire Island Association, a community organization. “But there is a stunning quality of beauty.…There will always be people who want to live there.”

A complete recovery isn’t expected until the Army Corps of Engineers finishes a $207 million rebuilding project that includes a system of 15-foot-high dunes and sand berms that protect many homes on Fire Island. That project isn’t scheduled for completion until next year.

“There is a big waiting game going on,” said Michael Dougherty, a broker at KP Property Group who has a home in Davis Park, a community that was hard hit by the storm. “Anyone who is considering selling is going to wait until this dune is put in by the government.” Fire Islands Sandy Comeback – WSJ

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