Goldman dodged the subprime tidal wave. But despite being masters of cleansing toxic paper, there is still a steep learning curve on the firm’s part on how to run a construction site. In light of two recent building disasters in Manhattan, Goldman is on the hot seat for keeping the building site of its West Side Highway headquarters-to-be safe. It’s never good when metal plates are landing in the middle of adjacent little league fields while a game is going on. And you don’t exactly gain trust by not showing up to a community meeting on the topic, especially when the city PAID YOU to stick around and not move everything to Jersey. How ironic that one of the greatest empire builders of all time has trouble building its own building.

Famous for its deft avoidance of one Wall Street crisis after another, Goldman Sachs Group Inc. hasn't been so lucky with its future headquarters.

Now under construction, the 43-story building in lower Manhattan, designed with six gigantic, state-of-the-art trading floors, was supposed to be the envy of Wall Street.

But the $2.4 billion building has been beset by problems. In December, architect Robert Woo suffered paralyzing injuries when seven tons of aluminum wall studs fell from the building and crushed a trailer he was in. May 17, a 30-inch-by-30-inch aluminum plate dislodged from a construction hoist and plunged 18 stories. It landed like a knife in the grass, according to witnesses. The project has been hit with 20 building-department violations.

"I was really scared," says 10-year-old Alexander Monticciolo, who was playing baseball when the plate landed about 20 feet away from him. "When it landed, everyone just stared at it."

Tuesday, New York City's Department of Buildings lifted a stop-work order imposed after the latest incident, but so far construction has resumed only on the lowest 13 floors, which are enclosed by windows.

The accidents pit the image-obsessed Goldman against Tishman Construction Corp., a 110-year-old firm that has built landmarks such as the Hancock Tower in Chicago and the Twin Towers in New York. Goldman has insisted Tishman take extra safety precautions.

Among them: Netting now must completely shroud the building, and a senior Tishman executive has been assigned to the site full-time to oversee safety. Goldman Chief Executive Officer Lloyd Blankfein now receives regular briefings on the status of the building, according to a person familiar with the matter.

"We are not experts in the ways of construction," Goldman Chief Administrative Officer Jeffrey Schroeder told about 40 frustrated parents and nearby residents last week. "But we are deeply concerned about your safety."

Richard Kielar, a Tishman senior vice president, says that the changes, "on top of an already robust safety plan, will prevent this type and similar ones from happening again." He says the moves are "aimed at achieving a zero-incident goal on the project." Among other moves, the closely held construction firm will have nearly 1,000 workers on the site go through a safety refresher course. "All violations on the project have been addressed immediately and pertinent information provided to the Department of Buildings."

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