Streep has been prevented from moving back into the $10 million Tribeca penthouse following the storm and is now looking for a new temporary home, reports The New York Daily News.
The Iron Lady actress has apparently been told that she will not be able to return to the apartment "for what's looking like four months [or] could be even longer", according to an insider.
Streep's Tribeca building is the same site where a parking garage attendant died during Hurricane Sandy when he refused to abandon his post.
More than 100 people died in total as a result of the storm, with the East Coast of the US also sustaining heavy damage.
Bruce Springsteen, Bon Jovi, Alicia Keys and Kanye West are to headline a special benefit show at Madison Square Garden on December 12 titled The Concert for Sandy Relief.
Watch Meryl Streep in the trailer for Hope Springs below: