The fire, which resulted in the partial collapse of the building on the Largo do Paisandu street in the center of Sao Paolo, has claimed the life of at least one person, the firefighters reported.
According to the Globo broadcaster, at least three people went missing as a result of the fire.
The huge fire started at 1:36 a.m. local time (4:36 GMT), the city's fire department spokesperson said.
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According to media reports, the apartment building was uninhabited, however, locals say that some squatters lived there. The fire department suggested that one person could be heard calling for help on the upper floors of the tower block.
Footage published on social media shows the fire-ravaged building collapsing.
The neighbouring buildings were evacuated and the area was cordoned off by the police. A total of 57 engines and 160 firefighters have responded to the emergency, trying to bring the fire under control.
The blaze broke out in two buildings on the Largo do Paissandu street on Tuesday, causing one of them to come down. The neighboring property is still on fire.