Fire Island Pines Recovering from Hurricane Sandy

FIRE ISLAND PINES, New York (November 06, 2012)  –  FIP Ventures, which
owns and operates 80% of the commercial properties at Fire Island
Pines, is pleased to report that The Pines weathered Hurricane Sandy
well, and that The Pines has already made good progress recovering in
the wake of the storm.

While parts of Fire Island suffered devastating damage, the Fire Island
Pines Property Owners’ Association (FIPPOA) reports that The Pines
experienced the least damage of any Fire Island community. FIPPOA
reports that no one was hurt, no homes were destroyed, and that any
damage is repairable this winter. Additionally, FIP Ventures notes that
the properties it operates are located on the harbor side of The Pines,
which experienced less of Sandy’s force than the beachfront houses on
the ocean side of the island.

FIP Ventures operates the Blue Whale restaurant, Hotel Ciel, and
Canteen cafe. It is also rebuilding the Pavilion dance club, which was
lost by fire less than a year ago. The Blue Whale and Hotel Ciel
suffered some wind damage, and there was flooding at FIP Ventures’ staff
house, but all indications are that any needed repairs will be able to
be made in the near future.

Construction on the new Pavilion should resume as well, after initial
clean-up and when local authorities allow contractors access to the
island again. FIP Ventures secured construction permits for the building
earlier this year, and the Pavilion’s foundation and septic system were
completed before the storm arrived.

As seen on the special website set up by FIPPOA, the community has
already organized itself to keep Pines residents informed and streamline
communications related to recovery. More information can be found at
their website:  http://sites.google.com/site/fippoasandy/

The Pines’ water and cell phone service have been restored, LIPA is
working to bring back electricity, and ferry service may return as soon
as this weekend. Local agencies are enacting measures to expedite
permitting for repairs. In short, Fire Island Pines withstood the storm
relatively intact, repairs will continue this winter, and The Pines will
be strong and vibrant once again this Spring.

Matthew Blesso, CEO and Founder of Blesso Properties and Operating
Partner of FIP Ventures, notes:  “Hurricane Sandy’s severity was
unprecedented, at least in recent history, and with it came
unprecedented damage across the island and throughout The Pines. We will
continue to assess damage to our properties, but expect to address any
necessary repairs in the coming weeks and to resume construction of the
new Pavilion very soon and be open for this summer.”

On the community spirit at The Pines, Blesso adds:  “Fire Island Pines
unites and stands strong in times of crisis. Time and again, we have
witnessed this community’s extraordinary resilience. We have no doubt
that The Pines will bounce back from this setback, clean up, rebuild,
and be ready to welcome back its residents and visitors in no time at
all.”

Contact:
Constantino Papadakis
General Manager, FIP Ventures:
constantino@thepinesfireisland.com

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