02/16/2012 11:31 am ET Updated Feb 16, 2012

World Trade Center Accident: Steel Beams Crash 40 Stories At Tower 4, Crushing Truck (VIDEO)

Steel beams crashed 40 stories at the construction site of the World Trade Center Thursday morning, crushing a flatbed truck and injuring one man.

Crane cables lifting the giant steel beams to the top of Tower 4 (which will be 72 stories tall) snapped at about 9:56AM, sending workers scrambling for safety.

Emergency personnel arrived minutes later and taped off the site of the accident, near Church Street and Cortlandt Street. The driver of the truck is being treated for minor injuries, My Fox New York reports. Other construction workers emptied out of the work area into Zuccotti Park.

Due to the FDNY investigation of the incident, there is no 1 train between Chambers Street and the Staten Island ferry.

A recent audit of the Port Authority discovered the cost of the World Trade Center project has soared to $14.8 billion.