Sandy, now a Category One Hurricane, is currently moving slowly away from Great Abaco in the Caribbean at 7mph with a maximum sustained speed of 75mph.
The National Hurricane Center's 5:00 p.m. update reports a tropical storm warning from the Florida east coast to St. Augustine. The tropical storm warning for Lake Okeechobee has been discontinued, and a tropical storm watch that effects between South Santee River, South Carolina and Duck, North Carolina has been changed to a tropical storm warning. The Watch also impacts the Albemarle and Pamlico Sounds.
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A tropical storm watch has been placed in effect for Bermuda, Savannah River to South Santee River, and Florida's East Coast (North of St. Augustine to Fernandina Beach).
A tropical storm warning is in effect for Great Abaco and Grand Bahama Islands, Florida's East Coast from North of Deerfield Beach to St. Augustine.
Gale watches have also been put into place for areas bordering the north of tropical storm warning areas.
Meteorology Director of Weather Underground Jeff Masters states, "It's looking like a very serious storm that could be historic," reports CBS News.
"The Perfect Storm only did $200 million of damage and I'm thinking a billion [from Sandy]," he adds.
New York Mayor Michael Bloomberg assured residents, "What we are doing is we are taking the kind of precautions you should expect us to do, and I don't think anyone should panic."
The Hurricane has taken the lives of 40 people after passing through Cuba and Haiti.
Keep an eye on Latinos Post for regular updates on Hurricane Sandy.