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Whoa, via labs about a half-hour ago: "crane just dropped a giant block into traffic 15 floors down smashing thru a cab! i got pics on the scene." (Pix are from Selectroclash.) The wires are saying that the police are calling a level one mobilization because the crane is still unstable. Six people have been injured, and three buildings are being evacuated. More info as it develops.

Update: pix can be found at londontube and djmac on Flickr. Apparently the crane was attached to the One Ten Third development (yes, the Toll Brothers building).

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Update: Apparently the situation is still unstable (a piece of the crane is still dangling)-- Tim Minton at WNBC is getting pushed out of the area by the FDNY live on Channel 4 right now. Latest update says that the people in the cab weren't seriously injured (amazing)-- but they're being taken to the hospital for examination. Minton points out that this is the third construction accident this week. Helicopter shots are showing 3rd Ave shut down 12th-14th, but traffic is moving east-west on 14th.

Update: NYCViaRachel has 43 pictures, including closeups of the perpetrator: a large white crane.

Update: The NYPD is escorting a rescue crane from NJ, via the George Washington Bridge. And the L train is bypassing a station, probably Third Avenue. (Also, there's a signal issue at Union Square: Manhattan-bound W trains and Brooklyn-bound R trains are running express between Times Square and Canal) .

Update: The NYPD is reporting that the crane lost some counterweights and is in imminent danger of collapse. The rescue crane is now coming from Queens, and all resources will be devoted to make sure it will get there.