If this storm gets a direct hit on NYC, the effects really could be disastrous, depending on the size and direction of the storm surge. I don't know how many of you have actually been to NYC, but I have, and frankly even a 10' surge would flood the subways and most of Manhattan. If the surge pushes the Hudson River back on itself, the effect could be doubled or tripled. NYC is basically all built slightly above sea level. A ten-foot tsunami heading through downtown is nothing to sneer at.
Hopefully this won't end up being a "perfect storm" or worst-case scenario. But when public officials of major cities turn white and grim, they are definitely worried.
I hope everyone in the path of this storm takes prudent safety precautions, and comes through okay. Sending good thoughts your way.