Hurricane Sandy is being touted as the most costly storm to ever hit New York City and New Jersey. But what impact did Sandy have on multifamily owners? While figures are hard to come by, some of the major REITs have addressed the costs for damages incurred. One of the largest blows was dealt to Highlands Ranch, Colo.–based UDR. A week after the storm, some residents were still without power at its Lower Manhattan properties, which saw ground-floor flooding. Before insurance proceeds, estimates put the damage at between $11 million and $14 million. Rochester, N.Y.–based Home Properties estimates repair costs in the $1 million to $1.5 million range. And Denver-based Aimco reports $1 million to $2 million in repair costs, much of which will be covered by insurance. But amid the insurance assessments and adjustments is compassion. For instance, tenants at eight New York City properties owned by the Moinian Group will receive rent credits for each day they are displaced due to Hurricane Sandy.