October 30, 2012

Goldman Sachs has two buildings that were directly in Hurricane Sandy’s path.

While damage in the immediate area of one of its buildings has been significant - see the picture below - in an interview with Bloomberg TV, Goldman COO Gary Cohn said the buildings suffered “very little damage”. [story continued below photo]

Half-submerged cars near Goldman Sachs building in New York C... on TwitpicCohn told Bloomberg TV the buildings suffered a little bit of “flooding here and there but outside of that, our buildings are in very good shape and are ready to go.”

Still, the big issue will be how to get people back into 200 West St. to work, he noted.

The MTA has suspended all subway service since Sunday evening. According to reports, 4 feet of seawater flooded subway tunnels at the height of the storm and 7 subway lines are now flooded. The MTA has so far not indicated when service is expected to resume.

Meanwhile, asked by a reporter whether Goldman’s back up office in Jersey City was too close to its offices in Manhattan, Cohn said that Goldman is currently re-evaluating its contingency plans.

“It’s obviously one of the things we’ll talk about. We like our location right now as we like the ability to move people seamlessly between the New York and New Jersey location.”

He noted that the two offices do stand fairly independently from each other and are isolated in terms of their power grids.

He also pointed out that Goldman has 1600 people in Salt Lake City who can carry out most if not all of Goldman’s operations.

Melanie Rodier has worked as a print and broadcast journalist for over 10 years, covering business and finance, general news, and film trade news. Prior to joining Wall Street & Technology in ...