Well, it all started with the new construction. I don't know what the condition was of the building they tore down(where you see the new steel), but they were all pretty old, and I'm guessing reached a certain equilibrium. When the building was removed, and they jostled the ground with construction, the building next to it started collapsing. Hopefully the white building will fare better.
You should see the inside of this place(white facade), with the understanding it was made as someone's private house(it's now offices). Marble stairways, mahogany wood, ornate brass or bronze latticework under the stair banisters, and an ornate ceiling that might be considered "a little much" in an opera house. Not to mention the huge marble fireplaces. Incredible building.
The one that's collapsing doesn't look bad inside either. I'd love to get in there before it comes down. Not nearly as fancy as whitey, but still well made and classy from what I could see. Low key luxury.