A fire broke out in the World building around 10:00 p.m. on January 31, 1882, supposedly because of a draft of wind from the nearby Temple Court Building. The fire destroyed much of the block within a few hours, killing six people and causing more than $400,000 in damage (equivalent to $11 million in 2020). The World building was said to have "made itself notorious the country over for burning up in the shortest time on record", and it took a week to examine the wreckage, Several days after the fire, the Real Estate Record and Guide said that "the ground is so valuable that it will no doubt be immediately built upon".
