The structure was owned by developer Larry Silverstein's private company and built on land owned by the Port Authority. Seven World Trade Center was Silverstein's first deal with the PA, a relationship which peaked when Silverstein Properties Inc. net leased four additional World Trade Center buildings including the now-decimated towers in a historic $3.2-billion transaction four months ago.

Seven World Trade Center was compromised earlier in the day when One World Trade Center, the second tower to collapse, leaned against the building prior to imploding. The smaller building's structural integrity was severely compromised and fires that sprang up as a result of the impact burned throughout the day. Firefighters were unable to get near the structure, which tilted slowly to the south for the next eight hours before collapsing into rubble yesterday afternoon. Another smaller building, located on West Street, was similarly damaged and is expected to topple as well.

A makeshift triage center for victims of the terrorist attacks has been set up at Chelsea Piers and the facility's ice rink has been converted into a morgue where bodies removed from the Trade Center site can be identified. The Red Cross is operating 12 shelters throughout the city that are serving as temporary housing.