Immediately after "Superstorm" Sandy, N.Y. and N.J. officials indicated that the cost of the storm's damage would be staggering but now they have come up with preliminary estimates of just how formidable. The combined total damage estimate for both states is about $62.8 billion, according to official reports.
N.Y. Gov. Andrew Cuomo, citing a study with local government officials and private firms including PricewaterhouseCoopers and the PFM Group, estimates that repair work and response to the storm cost New York State $32.8 billion and he anticipates a further $9.1 billion in mitigation and prevention costs. N.J. Gov. Chris Christie says that a preliminary analysis of the storm's damage to the state puts the total cost at $29.4 billion.