A crane on the 74th story of the $1.5 billion One57, a luxury residential tower being built in Manhattan, collapsed after it was hit by wind gusts from Hurricane Sandy, according to meteorologists. The crane's arm "flipped over the cab" and dangled alarmingly, prompting city officials to evacuate in surrounding buildings as a precautionary measure. An inspection was being undertaken by "the best of the best" of the city's engineers and inspectors, said Tony Sclafani, spokesman for the city's Buildings Department.