The fact that the PATH train doesn't stop at Exchange Place is quite frustrating for people trying to get to a building like 101 Hudson or 95 Greene St. in
Jersey City. Your choice is to go to
Grove Street and possibly take a bus, or go to
Pavonia/
Newport and take the
light rail to these buildings. The light rail is an additional $1.50, and isn't very fast.
With all this, the reason why Exchange Place is currently not in service is not because the station is flooded or destroyed in any way due to the attacks of September 11, 2001, but because there is no cross track to have trains change direction on. In other words, if a train going towards NYC was to start going towards Hoboken or 33rd St., it would have to reverse on the same track. Ideally, it should be able to switch to the other (correct) track. Unfortunately, the next place to switch was in the World Trade Center.
As a result, there is no way to run a proper schedule including Exchange Place without increasing the complexity of switch operators tremendously, and slowing down the rest of the PATH operations.