Times Square car bomb fails to explode

“We avoided what could have been a very deadly event,” said New York Mayor Michael R. Bloomberg at a press conference.

“We are very lucky,” New York Mayor Michael R. Bloomberg said at a press conference early this morning. “We avoided what could have been a very deadly event,” he continued, speaking about a crude car bomb of propane, gasoline and fireworks that was discovered in a smoking Nissan Pathfinder in the heart of Times Square early Saturday evening.

A large area of midtown was closed and evacuated after the device was discovered.

No suspects are in custody, although police said a surveillance video showed the vehicle driving west on 45th Street before it parked between Seventh and Eighth Avenues. Police are looking for additional video from office buildings that weren't open at the time.