Dumpster-lined streets and sidewalks strewn with destroyed art hint at the damage Hurricane Sandy wreaked on New York's most important art district last week; but as electricity slowly returns and flood waters recede, the impact of the "super storm" is still uncertain in New York's downtown Chelsea neighborhood, CNN reported.

"Chelsea is the center of America for contemporary art," Zach Feuer, owner of Zach Feuer gallery said. "This is a big cultural loss."

The destruction has left the contemporary and modern art world reeling, and as the recovery effort continues the massive creative and monetary toll is rising fast.

"I would not be surprised if, when it's all said and done, the damage that is done to our art world will be in the hundreds and hundreds of millions of dollars in unrecoverable work," gallery owner Leo Koenig said.