UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                     FORM 4

                  STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

    Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
       Section 17(a) of the Public Utility Holding Company Act of 1935 or
               Section 30(f) of the Investment Company Act of 1940

[ X ] Check this box if no longer subject to Section 16. Form 4 or Form 5
      obligations may continue. See Instruction 1(b).
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1. Name and Address of Reporting Person*

    Blumenthal,                      Randall             A.
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   (Last)                           (First)             (Middle)
    c/o Goldman, Sachs & Co.
    85 Broad Street
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                                    (Street)

    New York,                        New York             10004
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   (City)                           (State)              (Zip)


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2. Issuer Name and Ticker or Trading Symbol

    StorageNetworks, Inc.
    (STOR)
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3. I.R.S. Identification Number of Reporting Person, if an entity (voluntary)


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4. Statement for Month/Year

    June/2001
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5. If Amendment, Date of Original (Month/Year)


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6. Relationship of Reporting Person(s) to Issuer
   (Check all applicable)

   [   ]   Director                             [   ]   10% Owner
   [   ]   Officer (give title below)           [ X ]   Other (specify below)


                          Former Director
               -------------------------------------------

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7. Individual or Joint/Group Filing (Check Applicable Line)

   [ X ] Form filed by One Reporting Person
   [   ] Form filed by More than One Reporting Person

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                              Table I -- Non-Derivative Securities Acquired, Disposed of,                                          |
                                                 or Beneficially Owned                                                             |
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                                    |            |            |                                |              |6.       |          |
                                    |            |            | 4.                             |5.            |Owner-   |          |
                                    |            |            | Securities Acquired (A) or     |Amount of     |ship     |          |
                                    |            | 3.         | Disposed of (D)                |Securities    |Form:    |7.        |
                                    |2.          | Transaction| (Instr. 3, 4 and 5)            |Beneficially  |Direct   |Nature of |
                                    |Transaction | Code       | -------------------------------|Owned at End  |(D) or   |Indirect  |
1.                                  |Date        | (Instr. 8) |               | (A) |          |of Month      |Indirect |Beneficial|
Title of Security                   |(Month/Day/ | -----------|     Amount    | or  |  Price   |(Instr. 3     |(I)      |Ownership |
(Instr. 3)                          |Year)       |  Code  | V |               | (D) |          |and 4)        |(Instr.4)|(Instr. 4)|
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                                    |            |        |   |               |     |          |              |         |          |
Common Stock                        |  6/20/01   |   P    |   |        400    |  A  |  $13.02  |              |    I    |   01,02  |
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                                    |            |        |   |               |     |          |              |         |          |
Common Stock                        |  6/20/01   |   S    |   |        400    |  D  |  $12.40  |8,587,447(02) |    I    |   01,02  |
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Reminder: Report on a separate line for each class of securities beneficially
          owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction
  4(b)(v).

FORM 4 (continued)


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                    Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned                                 |
                            (e.g., puts, calls, warrants, options, convertible securities)                                         |
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               |        |        |       |               |                 |                        |       |9.      |10.   |      |
               |        |        |       |               |                 |                        |       |Number  |Owner-|      |
               |        |        |       |               |                 |                        |       |of      |ship  |      |
               |2.      |        |       |               |                 |                        |       |Deriv-  |of    |      |
               |Conver- |        |       | 5.            |                 |7.                      |       |ative   |Deriv-|11.   |
               |sion    |        |       | Number of     |                 |Title and Amount        |       |Secur-  |ative |Nature|
               |or      |        |       | Derivative    |6.               |of Underlying           |8.     |ities   |Secur-|of    |
               |Exer-   |        |4.     | Securities    |Date             |Securities              |Price  |Bene-   |ity:  |In-   |
               |cise    |3.      |Trans- | Acquired (A)  |Exercisable and  |(Instr. 3 and 4)        |of     |ficially|Direct|direct|
               |Price   |Trans-  |action | or Disposed   |Expiration Date  |------------------------|Deriv- |Owned   |(D) or|Bene- |
1.             |of      |action  |Code   | of (D)        |(Month/Day/Year) |             |Amount    |ative  |at End  |In-   |ficial|
Title of       |Deriv-  |Date    |(Instr | (Instr. 3,    |-----------------|             |or        |Secur- |of      |direct|Owner-|
Derivative     |ative   |(Month/ |8)     | 4 and 5)      |Date    |Expira- |             |Number    |ity    |Month   |(I)   |ship  |
Security       |Secur-  |Day/    |------ | ------------- |Exer-   |tion    |             |of        |(Instr.|(Instr. |(Instr|(Instr|
(Instr. 3)     |ity     |Year)   |Code |V|  (A)| (D)     |cisable |Date    |Title        |Shares    |5)     |4)      |4)    |4)    |
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               |        |        |     | |     |         |        |        |             |          |       |        |      |      |
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Explanation of Responses:

01:  The  Reporting  Person  is a  managing  director  of  Goldman,  Sachs & Co.
("Goldman Sachs").  Goldman Sachs is an indirect wholly-owned  subsidiary of The
Goldman  Sachs  Group,  Inc.  ("GS  Group").   The  Reporting  Person  disclaims
beneficial  ownership of the securities  reported herein except to the extent of
his pecuniary  interest  therein,  if any. The  Reporting  Person ceased to be a
director of StorageNetworks, Inc., effective May 15, 2001.

02: The securities reported herein as purchased and sold were purchased and sold
and were beneficially owned directly by Goldman Sachs.  Goldman Sachs will remit
appropriate profits, if any, to the Company.

As of May 15,  2001,  Goldman  Sachs and GS Group  may be  deemed to have  owned
beneficially  and  indirectly,  in aggregate,  8,587,447  shares of Common Stock
through certain investment partnerships of which affiliates of Goldman Sachs and
GS  Group  are  the  general   partner  or  managing   partner   (the   "Limited
Partnerships").  Goldman  Sachs is the  investment  manager  of  certain  of the
Limited Partnerships.



By:  s/ Roger S. Begelman                                       July 10, 2001
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      **Signature of Reporting Person                             Date
            Attorney-in-fact

**     Intentional misstatements or omissions of facts constitute Federal
       Criminal Violations.

       See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note:  File three copies of this Form, one of which must be manually signed.
       If space provided is insufficient, see Instruction 6 for procedures.


       Alternatively,   this  Form  is  permitted  to  be  submitted  to  the
       Commission in electronic  format at the option of the reporting person
       pursuant to Rule 101(b)(4) of Regulation S-T.