The four-alarm fire broke out on the 50th floor just after 5:30 p.m. Saturday and was contained less than an hour later, according to the Fire Department of New York.
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Authorities said a man was critically injured in the apartment fire and transported to the hospital, where he later died. Four firefighters also suffered minor injuries.
The man was later identified as 67-year-old Todd Brassner, according to New York police.
Twitter video showed flames shooting out of the building.
President Donald Trump is currently at the White House and not at Trump Tower. He tweeted out a thank you to firefighters once the blaze was contained.
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There were no evacuations inside the building, but some people self-evacuated, authorities said.
Trump's business is based at Trump Tower and his residence is there, but he has spent little time in New York since taking office.
Eric Trump, the president's second-oldest son, tweeted that the fire was in a residential apartment at the tower.
The cause of the fire remains under investigation.
The Associated Press and ABC News contributed to this report.