Here's a look at some of the damage inside one of the buildings impacted by the crane collapse.
This photo shows the hook of the crane after it crashed into a New York Law School office.
A spokesperson for the school said the hook fell into a window of a building at 47 Worth Street.
Meanwhile, those affected by the collapse include restaurant owners who say they lost thousands of dollars in business last night.
One neighborhood resident said it was difficult explaining to his children what happened.
"I was sort of taken aback, I got an email from the school principal down here and they talked about the tragedy and how they we're going to have counselors on duty and talk about the kids so this goes beyond being so close to home," said one father. "This is two blocks from where we live so it's pretty terrifying."
There's no word yet on when the crane will be removed.