History: Collapse Of The World Trade Center, September 11, 2001, Lower Manhattan, New York City, United States

In 1998, the Port Authority approved plans to privatize the World Trade Center. In 2001, the Port Authority sought to lease the World Trade Center to a private entity. Bids for the lease came from Vornado Realty Trust, a joint bid between Brookfield Properties Corporation and Boston Properties, and a joint bid by Silverstein Properties and The Westfield Group. By privatizing the World Trade Center, it would be added to the city's tax rolls and provide funds for other Port Authority projects. On February 15, 2001, the Port Authority announced that Vornado Realty Trust had won the lease for the World Trade Center, paying $3.25 billion for the 99-year lease. Vornado outbid Silverstein by $600 million though Silverstein upped his offer to $3.22 billion. However, Vornado insisted on last minute changes to the deal, including a shorter 39-year lease, which the Port Authority considered nonnegotiable. Vornado later withdrew and Silverstein's bid for the lease to the World Trade Center was accepted on April 26, 2001, and closed on July 24, 2001.
Destruction
On September 11, 2001, terrorists hijacked American Airlines Flight 11 and crashed it into the northern façade of the north tower at 8:46 a.m., the aircraft striking between the 93rd and 99th floors. Seventeen minutes later, at 9:03 a.m., a second team of terrorists crashed the similarly hijacked United Airlines Flight 175 into the south tower, striking it between the 77th and 85th floors. The damage caused to the north tower by Flight 11 destroyed any means of escape from above the impact zone, trapping 1,344 people. Flight 175 had a much more off-centered impact compared to Flight 11, and a single stairwell was left intact; however, only a few people managed to pass through it successfully before the tower collapsed. Although the south tower was struck lower than the north tower, thus affecting more floors, a smaller number, fewer than 700, were killed instantly or trapped. At 9:59 a.m., the South Tower collapsed after burning for approximately 56 minutes. The fire caused steel structural elements, already weakened from the plane impact, to fail. The north tower collapsed at 10:28 a.m., after burning for approximately 102 minutes.