West 40th Street (not to be confused with Disneyland) Courtesy Newyorkette

We're getting multiple reports that two manholes are on fire on West 40th Street between 7th and 8th Avenues. One tipster says several fire trucks are on the scene, and the entire area is covered in smoke. According to reports over the wires, the FDNY called "all hands" to fight a transformer fire with an extension into a 14 story building. "High carbon monoxide readings" are being reported near the scene. There are no injuries reported yet.

City Room reports that one exploding manhole "shot flames three stories high." And after the explosion, a firefighter yelled, "It’s not Disneyland, people. Get the hell out of the way." The last time this happened officials shut down an entire block in midtown, forcing the cancellation Jersey Boys and a major inconvenience for Thom Yorke fans trying to get to his show at Roseland. (Mercifully, this incident will not affect any Radiohead-related events.)

UPDATE 2:27: Carbon monoxide readings are reportedly 220 PPM in the basement of a building at 218 West 40th Street, and occupants are being evacuated from the building.

UPDATE 4:26: Tipster Carolita Johnson tells us, "I saw the mini-fireball come out of the manhole nearest me (I was in Inakaya restaurant; they all screamed inside). Doesn't look like anyone was hurt as the firemen had already cordoned off the area. It's still smoking, black smoke, burnt plastic smell, two hours later."