The New York Fire Department is reporting that the boom of a crane attached to a high rise on West 57th just collapsed, and is now dangling perilously over the street.
Piers Morgan snapped a photo of the crane from the window of his office, and tweeted it to his followers asking people to stay away. For once, I'd listen to him.
You can watch the scene unfold live via the CBS News Feed.
UPDATE: FDNY trucks are on their way to One57 to deal with the collapsed crane. Meanwhile, The Top of the Rock live cam has been trained on the dangling boom:
UPDATE 2: Here's a view of the crane's structural damage as seen through a telescope. Chris Wade says: "It's already broken off and is def going to fall." Also: Reports of another crane collapse at One World Trade Center, but the New York Times' Robert Mackey says no damage visible "from nearby." (Update: 1 WTC crane collapse rumor officially false.)
UPDATE 3: A CNN iReporter who happened to be shooting footage near One57 grabbed this video moments after the boom collapsed. The incident is believed to be the fault of a "strange gust of wind."