Exchange Place provides access to the Jersey City waterfront and a station on the Hudson–Bergen Light Rail, where connections are available to Bayonne and North Bergen.

Exchange Place station flooded after the September 11 attacks and was closed until June 29, 2003, when it became a temporary terminal.

The above-ground entrance and platforms were refurbished in the late 1960s and early 1970s after the Port Authority of New York and New Jersey took over operations of the Hudson and Manhattan Railroad.

[5] The present-day station entrance pavilion at Exchange Place was constructed at a cost of $66 million,[6] and was dedicated on September 13, 1989.

At this time, the surrounding Paulus Hook area was beginning to undergo revitalization with new office building construction.

[7][8] The Exchange Place station was closed as a result of the September 11, 2001 attacks, due to water from firefighting flooding the tunnels.

[13] In 2012, the station was inundated by 13 million US gallons (49,000 m3) of saltwater from the Hudson River, which had overflowed as a result of Hurricane Sandy.

Nearby attractions include the Colgate Clock, Goldman Sachs Tower, Harborside Financial Center, Paulus Hook, and the Hudson and Manhattan Railroad Powerhouse.